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Daily Chart w/ 10sma

  • #1,061
  • Apr 15, 2012 5:46am Apr 15, 2012 5:46am
Hi, this is my first post on this forum, I am after reading the whole thread and I want to thank the author for a lot of work brought in this system.Od today I'm going to test it on demo, already cleaned three times a real account on the micro-flight and in different systems, for now back to the question how to treat demo.Mam Sunday at my Brok is time to close the candle 120 min (after restart) and how it is to occupy a position on whether there is a price gap? sorry for English but it is the google translator.
my dream Australia.....
  • #1,062
  • Apr 18, 2012 6:08am Apr 18, 2012 6:08am
EUR/GB
Took a short (demo) on this earlier today.
Entry 0.8233
SL 0.8275
TP 0.8149

Its started to move quite well.
I'm not happy taking trades with the majors right now as they seem a bıt range bound and without much of a trend.
  • #1,063
  • Apr 18, 2012 6:24am Apr 18, 2012 6:24am
Hey!! You picked a nice trade!!!

Quoting robster
EUR/GB
Took a short (demo) on this earlier today.
Entry 0.8233
SL 0.8275
TP 0.8149

Its started to move quite well.
I'm not happy taking trades with the majors right now as they seem a bıt range bound and without much of a trend.
  • #1,064
  • Apr 18, 2012 6:58am Apr 18, 2012 6:58am
Quoting gregofx
Hey!! You picked a nice trade!!!
Thanks!
I also looked at EUR/CAD short but it was at resistance so I decided not to enter.
  • #1,065
  • Apr 22, 2012 3:31pm Apr 22, 2012 3:31pm
It's a shame that this forum is being forsaken. Much time has passed since the last post of BKG. I wonder if he is still using this strategy, or have found any improvement or mofificación, or even if he is developing a new strategy!! I would be delighted to hear from the creator of this fantastic strategy.
Greg.
  • #1,066
  • Apr 22, 2012 7:16pm Apr 22, 2012 7:16pm
I agree with you that the guy who started this should come back. I enjoyed it because it was similar to my style.

Anyways, I am always looking for interesting threads.
Sean Kelly Love God and love others. Do this and life is fun!
  • #1,067
  • Apr 23, 2012 7:19am Apr 23, 2012 7:19am
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF.jpg Size: 80 KB


Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 88 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 74 KB


Some trades I took Thursday that are finally straightening out.
Always Learning
  • #1,068
  • Apr 24, 2012 5:24am Apr 24, 2012 5:24am
Quoting JayTrader
Attachment

Attachment

Attachment

Some trades I took Thursday that are finally straightening out.


AUDCHF and EURAUD Hit first TP rest was moved to BE
Always Learning
  • #1,069
  • Apr 27, 2012 4:59pm Apr 27, 2012 4:59pm
Hello? anybody out here???

What a shame, BKG gave us the easyest way to trade, show us noobs how trading can be simple and profitable and nobody post here anymore.
There was a big hype about two months ago and at one point I felt like a bl@@dy spamer in here. Now I feel obligated at least to BKG to write few words.
Right lets get down to business.
Most people abandon this great thread because they couldn't get their head around something as simple as this system. I am still using it and found some nice conclusions about it.
I showed this system to few people on other forum (back in my country) as I wanted to find some answers I couldn't get here.
Same story, big hype, key questions without any kind of reply.
Only one guy was interested and smart enough to develop what surely was not said in here before.
He found almost "perfect" way to weed out fake signals and from his advice I came to conclusion about SL.
Which shouldn't be more than 40 pips, 30 would be "tight one" - yes I said it
When we can expect signal to be 90% valid???
When there is a clear breach of 10SMA from previous candle before our open just above/below SMA.
Go to your charts and have a look at previous entry points and there is the same succesfull pattern repeating all over again.
Always look for candles with nice full body, dojo pinbars may be more complicated to set SL @ 40 pips
Charts posted below, have a look
Thanks BKG I know you are busy man but when you have a moment, tell me what you think about it.

http://s18.postimage.org/3rv49gsll/sl1.gif

http://s18.postimage.org/45wg92cp5/sl2.gif


image host
swing it!
  • #1,070
  • Apr 29, 2012 8:03pm Apr 29, 2012 8:03pm
Quoting tomspin
Hello? anybody out here???

What a shame, BKG gave us the easyest way to trade, show us noobs how trading can be simple and profitable and nobody post here anymore.
There was a big hype about two months ago and at one point I felt like a bl@@dy spamer in here. Now I feel obligated at least to BKG to write few words.
Right lets get down to business.
Most people abandon this great thread because they couldn't get their head around something as simple as this system. I am still using it and found some nice conclusions about it.
I showed this system...

Like you, I too am grateful to BKG for this simple and successful system.

I have been following it from the very start and have been trading it too.

Somehow, I have not been able to utilise the Support and Resistance Indicator successfully (due to my poor skills in computer operations) so far which results in mediocre results due to some entries on fake signals.

However, I think, your suggestion of Stop Loss of 40 pips as well as use of RSI 7 indicator to confirm the entry signal will help me in my future trades. Thank you for that.

Please do keep on posting whenever you can.

I have to apologise for my inability (currently) to post my trades.

Hopefully, I should be able to do so in the near future.

Thanks again to BKG as well as all other great Traders (like you) who have kept this thread alive.
  • #1,071
  • Apr 29, 2012 8:48pm Apr 29, 2012 8:48pm
You are searching in the right direction because VALID IS ALWAYS SIMPLE IN THE NATURE!
Complicated systems create complicated losses.
Don't think - SEE! The old Chinese Kung Fu masters observed the nature and animals to implement it in their styles. Observe the cycles coming and going. The whole universe is built on waves and the price action have to obey it also. You need only good pivot and ADR indicator to measure the waves. Use 13 SMA and if candle close below 13 SMA at buy trade close the trade, do the same but opposite at sell trade. Doesn't get simpler. Don't trade less than H1 TFs because 95% losers do, don't copy the crowd! That's it.
Cheers Hermes
  • #1,072
  • Apr 30, 2012 3:09am Apr 30, 2012 3:09am
Have a look at the yellow area, these are the entry points and notice lower/higher shadow of the candles. In most cases price do not make a pullback more than 30pips/ish. Not a rule of thumb, just my observation.
I don't use RSI as a confirmation, I have it for my daytrading and I only use BKG's rules, nothing else.
Don't use indy for supp&res, learn how to do it by yourself it is basic tool you have to know to trade forex.
Let us know how you are doing.
swing it!
  • #1,073
  • Apr 30, 2012 9:40am Apr 30, 2012 9:40am
Quoting hermes777
You are searching in the right direction because VALID IS ALWAYS SIMPLE IN THE NATURE!
Complicated systems create complicated losses.
Don't think - SEE! The old Chinese Kung Fu masters observed the nature and animals to implement it in their styles. Observe the cycles coming and going. The whole universe is built on waves and the price action have to obey it also. You need only good pivot and ADR indicator to measure the waves. Use 13 SMA and if candle close below 13 SMA at buy trade close the trade, do the same but opposite at sell trade. Doesn't...
Can you elaborate how do you trade with ADX? The parameters?
Don't get what you said about 13 SMA. Care to share more? Post charts pls.

Thanks
Trade As A Sniper
  • #1,074
  • Apr 30, 2012 3:21pm Apr 30, 2012 3:21pm
Quoting tomspin
Have a look at the yellow area, these are the entry points and notice lower/higher shadow of the candles. In most cases price do not make a pullback more than 30pips/ish. Not a rule of thumb, just my observation.
I don't use RSI as a confirmation, I have it for my daytrading and I only use BKG's rules, nothing else.
Don't use indy for supp&res, learn how to do it by yourself it is basic tool you have to know to trade forex.
Let us know how you are doing.

Tomspin, Thanks a lot for clarifying.

You are right. No need for modifying BKG's simple strategy.

Will focus on honing my skills at locating the relevant Support and Demand Zones.

Best regards and good luck in your trades.
  • #1,075
  • Apr 30, 2012 4:22pm Apr 30, 2012 4:22pm
pama.fx the is not too much to elaborate.
Just plot 13 SMA on chart and go with the wind. For exits I use often 5EMA, if crossed opposite direction on close candle - exit!

Cheers Hermes
  • #1,076
  • Apr 30, 2012 7:56pm Apr 30, 2012 7:56pm
Quoting hermes777
pama.fx the is not too much to elaborate.
Just plot 13 SMA on chart and go with the wind. For exits I use often 5EMA, if crossed opposite direction on close candle - exit!

Cheers Hermes

Thanks for the additional indicators.

Please bear with me and confirm if my understanding of your method is correct :

1. Enter the Trade as per BKG's method.

2. Use 13 SMA to weed out the fake or weak signals with minimal loss.

3. Use 5 EMA to take profit and close the Trade.

Thanks for your guidance.
  • #1,077
  • May 1, 2012 3:28am May 1, 2012 3:28am
What a great trade again! I am up 100 pips, I will close the trade at 61.8 fib, anyone else in this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: 1.GIF Size: 356 KB
  • #1,078
  • May 1, 2012 3:37am May 1, 2012 3:37am
Quoting tomspin
http://s11.postimage.org/t4kgvt8df/aud_jpy.gif
adult upload image


tomspin.

from this trade, I have closed the first part of the trade at +20pips and I did manage to close the rest at breakeven, I agree that I also missed the big support just above the entry but at the end I didint lost it.
  • #1,079
  • May 1, 2012 3:48am May 1, 2012 3:48am
I missed Geppy such a nice signal, will be watching closely GBP/USD though, may be a nice sell signal today. Keep your Geppy going, I have a feeling it has more downward potential. Also EUR/GBP have crossed 10SMA today, lets see how it will end today.
That AJ trade hit my stop loss, hit ress pointed out by Jay and came back down.
I took USD/CAD last night but it is under water now about 35 points not the best pair to trade with this system(consolidation) and not the purest signal but I took it 35 pips I can loose as its my SL.
Good luck with your trade.
swing it!
  • #1,080
  • May 1, 2012 4:00am May 1, 2012 4:00am
Quoting tomspin
I missed Geppy such a nice signal, will be watching closely GBP/USD though, may be a nice sell signal today. Keep your Geppy going, I have a feeling it has more downward potential. Also EUR/GBP have crossed 10SMA today, lets see how it will end today.
That AJ trade hit my stop loss, hit ress pointed out by Jay and came back down.
I took USD/CAD last night but it is under water now about 35 points not the best pair to trade with this system(consolidation) and not the purest signal but I took it 35 pips I can loose as its my SL.
Good luck...
I agree on GBPUSD, it should go down, but it might go up once more and them it might come all the way down

I have attach a screenshot of EURGBP, there is a resistance at 0.82216 , which is 36pips above the current price, not sure if it worths the risk maybe we should wait for the bounce on the resistance and get it whe it cross 10sma down
Attached Image (click to enlarge)
Click to Enlarge Name: 1.GIF Size: 337 KB
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