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Daily Chart w/ 10sma

  • #1,081
  • May 1, 2012 4:13am May 1, 2012 4:13am
Quoting bkg102665
This is an alert I had made that has the ability to alert w/ alarm, a pop up window, and an email. It will alert you when a daily candle crosses and close the 10sma. You will get the alert at the close of the daily candle. I run this on 20+ currencies and every night around 8 pm I get emails to tell me which pairs have crossed the 10sma and closed. Remember that you want to take short trades when price is close to resistance and long trades when price is near support.
Thanks!
  • #1,082
  • May 1, 2012 4:14am May 1, 2012 4:14am
Friend of mine the one I mentioned in previous post says if we are less then 50 pips from ress or supp we shouldn't take a trade. It will all depend on how todays candle end. I would take it if body would be nice and full with tiny shadow on top, and I "knew" EUR/GBP would go up today, there was a nice divergence on D1 yesterday so it may be beginning of the rally.
I'll keep my eye on it.
swing it!
  • #1,083
  • May 1, 2012 1:17pm May 1, 2012 1:17pm
An easy 125 pips in less than 1 day using BK's method. I broke the rule and didn't close when price reached the blue Resistance line(using candle closes as BK suggests) so I got 5 pips. I had plans to keep the trade on for several days till piptopia. Lesson: follow rules and close at Resistance.

Didn't know BK was back. I quit following this method when it went indicator and method changing crazy. BK, speak to us...

Steve
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  • #1,084
  • May 1, 2012 1:29pm May 1, 2012 1:29pm
See Post 982; BK suggests using 4 pairs to expose us to each currency. Look at what has happened on chart:

Aud/cad: after price crossed the 10sma long it made 37 pips but did not hit my Resistance line so would be a loss of 120 pips if it closes in a few hours on the other side of the 10sma.

Eur/nzd: Discussed in previous post: +125 in less than 1 day

Chf/Jpy: 61 pips short in less than 1 day till support hit.

Gbp/usd: 370 pips in 9 days after price closed above the 10sma till it hit the closed candle resistance line.

Total: 436 pips

The only subjectivity required on these trades was the placement of the resistance and support lines.

I don't think this is luck but its too simple for most traders.

God bless you richly BK.

Steve
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  • #1,085
  • May 1, 2012 5:07pm May 1, 2012 5:07pm
Quoting stevewide
See Post 982; BK suggests using 4 pairs to expose us to each currency. Look at what has happened on chart:

Total: 436 pips

Steve
Thanks, Steve

Helpful reminder on pair exposure. Also that results need to be 'averaged' over several pair over some reasonable time frame.

BKG's system does seem to hold up well on longer term examination . . . and you're not sitting in front of the screen for hours. Pretty nice.

Forest
  • #1,086
  • May 1, 2012 5:44pm May 1, 2012 5:44pm
My trade for tonight
http://s13.postimage.org/fb48wv81z/audnzd.gif
free picture hosting

Steve method has not changed one bit, I just found out with my friend how to limit risk even more, it is still daily chart, supp & ress and entry below/above 10SMA. This trade should prove my theory about SL as it should not breach back 10SMA. I too wish to hear from BKG especially about my bits,
Best of luck
Tomspin
swing it!
  • #1,087
  • May 1, 2012 5:54pm May 1, 2012 5:54pm
Quoting tomspin
My trade for tonight
http://s13.postimage.org/fb48wv81z/audnzd.gif
free picture hosting

Steve method has not changed one bit, I just found out with my friend how to limit risk even more, it is still daily chart, supp & ress and entry below/above 10SMA. This trade should prove my theory about SL as it should not breach back 10SMA. I too wish to hear from BKG especially about my bits,
Best of luck
Tomspin

what about support at 1.26207 area?
  • #1,088
  • May 2, 2012 3:36am May 2, 2012 3:36am
Quoting migmac
what about support at 1.26207 area?
I wasn't worried about that level as it was 50 pips away, I woke up today and found I was stoped out, set SL about 5 pips to low, price moved back 35 pips and crossed SMA, so I was pretty d@mn close, oh well......
swing it!
  • #1,089
  • May 2, 2012 4:39am May 2, 2012 4:39am
Quoting tomspin
I wasn't worried about that level as it was 50 pips away, I woke up today and found I was stoped out, set SL about 5 pips to low, price moved back 35 pips and crossed SMA, so I was pretty d@mn close, oh well......
I did enter on this trade also, since I did agree with your analyse, my trade didin't close but I am still -21pips

I will updated you
  • #1,090
  • May 2, 2012 5:19am May 2, 2012 5:19am
Quoting tomspin
I wasn't worried about that level as it was 50 pips away, I woke up today and found I was stoped out, set SL about 5 pips to low, price moved back 35 pips and crossed SMA, so I was pretty d@mn close, oh well......
Another way to enter trades that may keep you out of Trades like the audnzd trade is to BuyStop or Sellstop a few pips A/B the entry candle(depending on long/Short) rather than using a market order. Nothing wrong with what your doing but you will end up giving back to the market more often if the market has no more momentum, especially if you are using a small stop. I put an order on for the audnzd and audusd last night and stayed out of both. Just another tool for the tool box
Always Learning
  • #1,091
  • May 2, 2012 5:27am May 2, 2012 5:27am
Quoting JayTrader
Another way to enter trades that may keep you out of Trades like the audnzd trade is to BuyStop or Sellstop a few pips A/B the entry candle(depending on long/Short) rather than using a market order. Nothing wrong with what your doing but you will end up giving back to the market more often if the market has no more momentum, especially if you are using a small stop. I put an order on for the audnzd and audusd last night and stayed out of both. Just another tool for the tool box
Jay,

will you be so kind to tell what order levels (ep, sl and tp ) did you place for the audnzd ?

thank you
  • #1,092
  • May 2, 2012 9:47am May 2, 2012 9:47am
Quoting migmac
Jay,

will you be so kind to tell what order levels (ep, sl and tp ) did you place for the audnzd ?

thank you
Original post got deleted. Probably my dazzling computer skills
Hope this helps

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Always Learning
  • #1,093
  • May 15, 2012 11:46am May 15, 2012 11:46am
Im New to this thread but I found it and it trades very similar to what I do so tell me Do i understand this correctly please advise

I see the dayly USDJPY possiably going to close above teh 10 SMA resting on support and at a 50% retracement of a nice up move .
Everything looks right to me if it closes on teh correct side
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  • #1,094
  • May 15, 2012 5:54pm May 15, 2012 5:54pm
I'm in too .



Quoting Landfar
Im New to this thread but I found it and it trades very similar to what I do so tell me Do i understand this correctly please advise

I see the dayly USDJPY possiably going to close above teh 10 SMA resting on support and at a 50% retracement of a nice up move .
Everything looks right to me if it closes on teh correct side
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 27 KB
  • #1,095
  • May 15, 2012 7:36pm May 15, 2012 7:36pm
Quoting gregofx
I'm in too .
strong restistance at 80.602
  • #1,096
  • May 15, 2012 7:37pm May 15, 2012 7:37pm
Quoting JayTrader
Original post got deleted. Probably my dazzling computer skills
Hope this helps

Attachment
Thank you Jay!
  • #1,097
  • May 15, 2012 7:41pm May 15, 2012 7:41pm
Went short Euro AUD also i see the TL under but one above also so with all the bad news out there on the euro I'm expecting it to break south.

We will see
  • #1,098
  • May 15, 2012 7:45pm May 15, 2012 7:45pm
Forgot the snap shot
Attached Image (click to enlarge)
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  • #1,099
  • May 16, 2012 8:11am May 16, 2012 8:11am
Best system i ever saw making every week a lot of pips
  • #1,100
  • May 16, 2012 4:11pm May 16, 2012 4:11pm
Well, not a good day. Stopped at BE...

Quoting gregofx
I'm in too .
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