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Daily Chart w/ 10sma

  • #1,121
  • Jun 10, 2012 6:40am Jun 10, 2012 6:40am
Quoting bkg102665
Thank you very much!! There is not a perfect system out here anywhere. I have not posted lately because I got a little disquested at people trying to make it so dang complicated.
Yeah everyone makes things too complicated... glad to see you back to the thread tho!
  • #1,122
  • Jun 11, 2012 3:19am Jun 11, 2012 3:19am
Hi bkg102665 ,

i really like your system and currently trading with a 4 digit broker and when i attache your bkg support and ressistant ea i m getting a little bit of large difference numbers then a 5 digit broker. is this normal or can we fix this ?

thanks
  • #1,123
  • Jun 12, 2012 7:06pm Jun 12, 2012 7:06pm
BKG, re: trading A.Cd, Cf.J, E.N and G.U . . .

Have these become your four favorites . . . or are they added to other proven pairs for you?

Forest
  • #1,124
  • Jun 13, 2012 12:29am Jun 13, 2012 12:29am
BKG:

Good simple and clear cut method. Stuff of legends. Been lurking around and using your method and adapting it to how I trade.

And your Fantastic Four (AUDCAD, GBPUSD, EURNZD, CHFJPY).... out of this world.

In short, thank you for sharing your ideas.

Rgds.
  • #1,125
  • Jun 15, 2012 9:54am Jun 15, 2012 9:54am
Quoting Forest-Sea
BKG, re: trading A.Cd, Cf.J, E.N and G.U . . .

Have these become your four favorites . . . or are they added to other proven pairs for you?

Forest
They are not my favorite pairs, they are just four pair that have no common currency. I was trying to prove a point that you do not want to load up on four pairs that have the usd, jpy, or any common currency. this way you get a much better result I think. If you are in eurusd, gbpusd, nzdusd, audusd and the dollar makes a drastic move it could be very harmful to your account. Spread your trades out over different pairs.
Please ask questions and share your experiences with us all!
  • #1,126
  • Jun 15, 2012 3:47pm Jun 15, 2012 3:47pm
I went long on EURSGD on Thursday 14th.
Wednesday's candle closed above SMA(10).
Secondly, I saw about 200 pips room up to resistance.
Price also closed above a trendline.

I'm currently down -78.
Should I've stayed out of this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: $EURSGD (Daily) 8-11-2011 - 15-6-2012.png Size: 42 KB
Financial independence is what I live for
  • #1,127
  • Jun 15, 2012 6:53pm Jun 15, 2012 6:53pm
Quoting bkg102665
They are not my favorite pairs, they are just four pair that have no common currency. I was trying to prove a point that you do not want to load up on four pairs that have the usd, jpy, or any common currency. this way you get a much better result I think. If you are in eurusd, gbpusd, nzdusd, audusd and the dollar makes a drastic move it could be very harmful to your account. Spread your trades out over different pairs.
good advice for risk control.

btw. what ma is the yellow line?
Trade As A Sniper
  • #1,128
  • Jun 16, 2012 11:14am Jun 16, 2012 11:14am
Quoting bkg102665
they are just four pair that have no common currency. I was trying to prove a point that you do not want to load up on four pairs that have the usd, jpy, or any common currency. this way you get a much better result I think.
Right. High correlation kills. Point well taken.

Thanks for your continuing guidance.

Forest
  • #1,129
  • Jun 19, 2012 2:35pm Jun 19, 2012 2:35pm
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy19june.JPG Size: 147 KB


Candle closed above 10sma and at a previous support level. Possible TP at 200ma level. Entry at 50% retracement

What do you think?
  • #1,130
  • Jun 19, 2012 2:44pm Jun 19, 2012 2:44pm
Hx

My concern would be that it couldn't get past the 200 for H4 recently and is in the area again. I might like to see it clear that hurdle.

I also wonder if it has truly cleared the burden of the M-PP about 20 pips down. Maybe.

Forest
  • #1,131
  • Jun 20, 2012 8:18pm Jun 20, 2012 8:18pm
Hello bkg102665 and everyone!

I found this method very interesting and would like to give myself a try, but before I do, I have question,"Does the slope of the SMA10 matter? Do we have to wait until it's heading down to sell (and vice versa?)"

Thank you all... specially bkg102665 who not only invented such a simple method, but willing to share to the world as well. Salute!
  • #1,132
  • Jun 21, 2012 5:18am Jun 21, 2012 5:18am
Quoting Axau
Hello bkg102665 and everyone!

I found this method very interesting and would like to give myself a try, but before I do, I have question,"Does the slope of the SMA10 matter? Do we have to wait until it's heading down to sell (and vice versa?)"

Thank you all... specially bkg102665 who not only invented such a simple method, but willing to share to the world as well. Salute!
I prefer the trades where the slope is clearly upwards (for longs) or downwards (for shorts). This shows resolution imho as the market has started to become set in the trend. Think about it. If the slope is flat it means price has gone nowhere for the last 10 days and it could go either way. Other technical aids outside this strategy would be required to help make up ones mind. An exception though is when the market has gone up strongly and I believe the trend is coming up to its end...

Olu
If you think you can or cannot do it you are correct
  • #1,133
  • Jun 21, 2012 5:39am Jun 21, 2012 5:39am
Quoting Olu
I prefer the trades where the slope is clearly upwards (for longs) or downwards (for shorts). This shows resolution imho as the market has started to become set in the trend. Think about it. If the slope is flat it means price has gone nowhere for the last 10 days and it could go either way. Other technical aids outside this strategy would be required to help make up ones mind. An exception though is when the market has gone up strongly and I believe the trend is coming up to its end...

Olu

Well said, Olu...
Thanks, I appreciate it!
  • #1,134
  • Jun 21, 2012 6:30am Jun 21, 2012 6:30am
Quoting Forest-Sea
Hx

My concern would be that it couldn't get past the 200 for H4 recently and is in the area again. I might like to see it clear that hurdle.

I also wonder if it has truly cleared the burden of the M-PP about 20 pips down. Maybe.

Forest
What is M-PP
  • #1,135
  • Jun 21, 2012 6:42am Jun 21, 2012 6:42am
I think most of you will find this trade will work if you use it on four pair(do not load up on any one particular currency) and just take the freaking trade when it crosses. If you keep adding filters you will filter yourself out of some really great trades.

I really like this set up with currecies trading against the USD and JPY.

I have noticed that often the daily trend will change direction around the first of the month so just be aware of that. At least that is what I see but you guys may disagree with that.
Please ask questions and share your experiences with us all!
  • #1,136
  • Jun 21, 2012 11:10am Jun 21, 2012 11:10am
BKG thanks again for this great training...i did what you sugested with the 4 currency and have made money . i am 77 yr old and have been trading for 10 yrs. won some and lost some.. but this daly system is the simplest and most profitable of them all..i live in the Houston Texas area..thanks to the daily syst allows for more fishing and golf... TEXAN
  • #1,137
  • Jun 21, 2012 3:53pm Jun 21, 2012 3:53pm
Quoting bkg102665
I think most of you will find this trade will work if you use it on four pair(do not load up on any one particular currency) and just take the freaking trade when it crosses. If you keep adding filters you will filter yourself out of some really great trades.

I really like this set up with currecies trading against the USD and JPY.

I have noticed that often the daily trend will change direction around the first of the month so just be aware of that. At least that is what I see but you guys may disagree with that.

Thanks, BKG!
I appreciate it.
  • #1,138
  • Jun 21, 2012 4:21pm Jun 21, 2012 4:21pm
BKG,

About this Fab Four, do they have to be AUD/CAD, CHF/JPY, EUR/NZD and GBP/USD as you suggested?!

Can they be AUD/USD, EUR/JPY, GBP/CHF and NZD/CAD?! Cause the main idea is trading 8 different currencies, right?!

Thanks
  • #1,139
  • Jun 22, 2012 5:15am Jun 22, 2012 5:15am
Quoting Axau
BKG,

About this Fab Four, do they have to be AUD/CAD, CHF/JPY, EUR/NZD and GBP/USD as you suggested?!

Can they be AUD/USD, EUR/JPY, GBP/CHF and NZD/CAD?! Cause the main idea is trading 8 different currencies, right?!

Thanks
It can be any four to eight pairs that you choose.
Please ask questions and share your experiences with us all!
  • #1,140
  • Jun 22, 2012 5:59am Jun 22, 2012 5:59am
Nice to see you back BKG...great system.

Just took a short on EUR this morning / Long on the JPY since yesterday. Both have fresh moves across the 10ma and nice trends going
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