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Daily Chart w/ 10sma

  • #701
  • Feb 29, 2012 8:34pm Feb 29, 2012 8:34pm
Quoting luterongo
Did you go long or short ?
Really? Did you look at the chart?
S . O . L . D
  • #702
  • Edited 10:42pm Feb 29, 2012 8:42pm | Edited 10:42pm
Quoting Rokz
Really? Did you look at the chart?
S . O . L . D

I was just gonna see if I think the same way But I will wait 12hr o so to see what happen.http://www.forexfactory.com/images/icons/icon10.gif
thanx, wish you many pips

Besides, there is a few reasons why i would go long, but not following this strategy, so let's stick to the rules.
  • #703
  • Mar 1, 2012 3:12am Mar 1, 2012 3:12am
Quoting bkg102665
This is what I look for in a trade. This trade may fail miserably but I will take it every time. 1) bounced off support 2) above 10sma and 200sma 3) broke trendline from 2 or 3 months ago.

It may not work but like I said this is what I like to see and I will take it every time!!
I have to be on the road all day today so I have locked in profit +1 since I am only up around 50 pips or so. Now I do not care what happens and I will look for another trade tonight when I get home. Trade well today friends!!!
Please ask questions and share your experiences with us all!
  • #704
  • Mar 1, 2012 3:12am Mar 1, 2012 3:12am
Quoting Chicajudy
Hello Lizpet, Sniperfxmy, and Don555,

Once the snags are virtually gone, and I have a 75:25 winners-to-losers trading ratio, and I am trading "live," I shall open a thread. My interest in the H4 and how it relates to bigger pip trades on the Day Chart w/ 10 SMA kept me out of the chancy EURO pairs this morning. I will not trade during a consolidation period on the H4 or the Day Chart methods. As usual, at least in my case, both a handsome trend and support or resistance clearance are the name of the game.

Best consistent profits to...
Looking forward to when you get started Judy as it seems that this system of bkgs integrated with your own which has already kept you out of chancy trades can only be a good thing.
  • #705
  • Mar 1, 2012 4:47am Mar 1, 2012 4:47am
what about short on eurusd?
  • #706
  • Mar 1, 2012 5:03am Mar 1, 2012 5:03am
Quoting don555
Looking forward to when you get started Judy as it seems that this system of bkgs integrated with your own which has already kept you out of chancy trades can only be a good thing.
Multiple Timeframes is my preferred application also
  • #707
  • Edited 5:09am Mar 1, 2012 5:06am | Edited 5:09am
Quoting alwaro
what about short on eurusd?

Personally I would stay away from it at the present time for 3 reasons
1/to near support
2/in strong upward trend
3/ after large candle crossing with 1&2 reasons given I would be looking for a reversal

But who knows just my opinion.
  • #708
  • Mar 1, 2012 5:18am Mar 1, 2012 5:18am
When I first found this thread my first thought was take every candle that crosses the 10sma even taking support and resistance into consideration.
But even now after a few weeks it is not as easy as it first seemed.
  • #709
  • Mar 1, 2012 5:38am Mar 1, 2012 5:38am
Hi bkg102665,

I like your trendline method.
I just find you open a new thread. I like this method too.
You are a professional trader.

I followed your method, here is my first entry as this method.
Attached Image (click to enlarge)
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Outcome is not important at all, but correct technique is what only matters
  • #710
  • Mar 1, 2012 5:43am Mar 1, 2012 5:43am
Quoting don555
Personally I would stay away from it at the present time for 3 reasons
1/to near support
2/in strong upward trend
3/ after large candle crossing with 1&2 reasons given I would be looking for a reversal

But who knows just my opinion.
Hi Don,

I understand your thoughts. And this method is simple, but not easy.
But to my understanding, EURUSD looks a good short.

I would like to see whether the 1.32 reverse the falling.
Attached Image (click to enlarge)
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Outcome is not important at all, but correct technique is what only matters
  • #711
  • Mar 1, 2012 5:58am Mar 1, 2012 5:58am
I have a slightly different view for this setup. Looks like we are testing the support, turned resistance. If price closes below the 10SMA , I would be looking to sell. Profit targets look a bit better too. I'll wait and see.
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  • #712
  • Mar 1, 2012 6:01am Mar 1, 2012 6:01am
Quoting don555
When I first found this thread my first thought was take every candle that crosses the 10sma even taking support and resistance into consideration.
But even now after a few weeks it is not as easy as it first seemed.
Stick to the pure system. It works...

People cant help tinkering with set systems. The beauty of this system is its simplicity. Try making a trading decision with a daily chart with 3 MAs, MACD, RSI, ADX and PSAR on it. Analysis paralysis.

Just ignore posts that add one thing or another to the set system

Olu
If you think you can or cannot do it you are correct
  • #713
  • Mar 1, 2012 6:16am Mar 1, 2012 6:16am
Hi Guys,

Did anyone catch the USDCAD trade over the last 2 days?

Shorted on close of signal candle at 0.9934 and increased my lots on retracement at 0.9888. Following BKG's advice, load up into a profitable trade.

Currently heading to test support at 0.9843 which I expect to be broken as the 0.9890 resistance has been broken.

I've moved stops tightly to 0.9912, which I will move to later if it continues to move down.

My TP is at around 0.9783 - 0.9727

Screenshot attached.

Hope some of you caught this one with me! Happy pipping

Cheers,
Miike
Attached Image (click to enlarge)
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  • #714
  • Mar 1, 2012 6:23am Mar 1, 2012 6:23am
Quoting miike
Hi Guys,

Did anyone catch the USDCAD trade over the last 2 days?

Shorted on close of signal candle at 0.9934 and increased my lots on retracement at 0.9888. Following BKG's advice, load up into a profitable trade.

Currently heading to test support at 0.9843 which I expect to be broken as the 0.9890 resistance has been broken.

I've moved stops tightly to 0.9912, which I will move to later if it continues to move down.

My TP is at around 0.9783 - 0.9727

Screenshot attached.

Hope some of you caught this one with me! Happy pipping...
Jip, I'm in it, but entered on the retracement.
  • #715
  • Mar 1, 2012 6:37am Mar 1, 2012 6:37am
Quoting miike
Hi Guys,

Did anyone catch the USDCAD trade over the last 2 days?

Shorted on close of signal candle at 0.9934 and increased my lots on retracement at 0.9888. Following BKG's advice, load up into a profitable trade.

Currently heading to test support at 0.9843 which I expect to be broken as the 0.9890 resistance has been broken.

I've moved stops tightly to 0.9912, which I will move to later if it continues to move down.

My TP is at around 0.9783 - 0.9727

Screenshot attached.

Hope some of you caught this one with me! Happy pipping

Cheers,
Miike...
I'm bullish on the Canadian Dollar too Mike!
  • #716
  • Mar 1, 2012 6:56am Mar 1, 2012 6:56am
Quoting riandouma
I have a slightly different view for this setup. Looks like we are testing the support, turned resistance. If price closes below the 10SMA , I would be looking to sell. Profit targets look a bit better too. I'll wait and see.
but it has already crossed belwe the 10sma. so valid short.

or do you prefer to wait for a pullback to the 10sma then enter ?

are any of you open to the idea of having a new thread that only is for posting signals generated by this system ? i.e. a signal thread for this system. on all pairs.

i think it would be a good idea. i wonder what bk thinks ?
  • #717
  • Mar 1, 2012 7:02am Mar 1, 2012 7:02am
Quoting whatfx
but it has already crossed belwe the 10sma. so valid short.

or do you prefer to wait for a pullback to the 10sma then enter ?

are any of you open to the idea of having a new thread that only is for posting signals generated by this system ? i.e. a signal thread for this system. on all pairs.

i think it would be a good idea. i wonder what bk thinks ?
I know it has, but the previous time it crossed was into support. Price has broken that support and is retesting that level for resistance. I have 2 options. Get a better price as it is testing that resistance level or be conservative and wait for it to close below the 10SMA again. Sell resistance, buy support.
  • #718
  • Mar 1, 2012 7:41am Mar 1, 2012 7:41am
Quoting Olu
Stick to the pure system. It works...

People cant help tinkering with set systems. The beauty of this system is its simplicity. Try making a trading decision with a daily chart with 3 MAs, MACD, RSI, ADX and PSAR on it. Analysis paralysis.

Just ignore posts that add one thing or another to the set system

Olu
Thank you!!

Is anybody getting this?
Please ask questions and share your experiences with us all!
  • #719
  • Mar 1, 2012 7:43am Mar 1, 2012 7:43am
Quoting whatfx
but it has already crossed belwe the 10sma. so valid short.

or do you prefer to wait for a pullback to the 10sma then enter ?

are any of you open to the idea of having a new thread that only is for posting signals generated by this system ? i.e. a signal thread for this system. on all pairs.

i think it would be a good idea. i wonder what bk thinks ?
You are welcome to post the signals here.......
Please ask questions and share your experiences with us all!
  • #720
  • Mar 1, 2012 8:09am Mar 1, 2012 8:09am
Quoting bkg102665
You are welcome to post the signals here.......
A bettor idea because if we are wrong in our decisions we have always got bkg to help us out and explain where we have made a mistake, and after all it is his thread.
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