Daily Chart w/ 10sma | Page 58 | Forex Factory

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Daily Chart w/ 10sma

  • #1,141
  • Jun 22, 2012 8:02am Jun 22, 2012 8:02am
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.
I don't know if this has been answered already as I,ve not been able to read all the post yet. I want to know if we have to give any regard to economic data with high impact
  • #1,142
  • Jun 22, 2012 9:03am Jun 22, 2012 9:03am
Quoting bkg102665
If anyone did what I asked and took every trade that those four pair had produced since the middle of march you would have made well over 2000 pips.
Thank you! Took 3 trades and made a nice little profit! Have been trading mostly intra-day with Bobokus' fib method and doing very nicely (thanks, Jeff). But my circumstances have changed somewhat and I'm now unable to trade intra-day. Tried several times but I just can't get a hang of Bobokus' method for the daily. Searching for months before I stumbled onto this great system. It is beautifully simple. Just have to keep reminding myself to check S&R and not just cross above/below MA. thanks for sharing this method.
  • #1,143
  • Jun 22, 2012 11:41am Jun 22, 2012 11:41am
Quoting sepramfx
I don't know if this has been answered already as I,ve not been able to read all the post yet. I want to know if we have to give any regard to economic data with high impact
I never look at news. If you are trading daily charts or larger I do not think news comes into play.News may change the trend but then you get in when the daily crosses and closes over the 10sma.Its really simple guys.
Please ask questions and share your experiences with us all!
  • #1,144
  • Jun 22, 2012 11:50am Jun 22, 2012 11:50am
Hello,
I am new to the forum ... congratulations to everyone but especially to BKG.
What are the 4 best pairs for this system?
Thanks to all
  • #1,145
  • Jun 22, 2012 2:52pm Jun 22, 2012 2:52pm
Quoting Marcolino83
Hello,
I am new to the forum ... congratulations to everyone but especially to BKG.
What are the 4 best pairs for this system?
Thanks to all
There are not four best pair! Please read the forum. Good luck!!
Please ask questions and share your experiences with us all!
  • #1,146
  • Jun 22, 2012 3:02pm Jun 22, 2012 3:02pm
Quoting bkg102665
I never look at news. If you are trading daily charts or larger I do not think news comes into play.News may change the trend but then you get in when the daily crosses and closes over the 10sma.Its really simple guys.
Thanks so much I really have confidence in your trahding style. Could this be the HOLY GRAIL? To have survive a long period of years till now yet its still working............you can call it anything but I called it the holly grail I have been searching for..thanks so much BKG
  • #1,147
  • Jun 22, 2012 5:38pm Jun 22, 2012 5:38pm
BKG and Friends,
please tell me. Gbp/Jpy is above 10 sma today. Also Inside bar today High being 125.73, so I would go long at 125.75 My TP is at 126.63 90 pips atr. between high and low. Your opinion please.
Thanks.
Attached Image (click to enlarge)
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  • #1,148
  • Jun 23, 2012 8:34am Jun 23, 2012 8:34am
Quoting behman8850
BKG and Friends,
please tell me. Gbp/Jpy is above 10 sma today. Also Inside bar today High being 125.73, so I would go long at 125.75 My TP is at 126.63 90 pips atr. between high and low. Your opinion please.
Thanks.
On page 1:

Quoting bkg102665
Use a daily chart with most any pair you like to trade.

Put a 10sma on the chart (red on my charts)

Always know where support and resistance levels are(aqua on my charts)because these are always good take profit areas and entry areas

I will only take shorts when price is at resistance level and then closes below the 10sma

I will only take longs when price is at support and then closes above the 10sma
You're planning on taking a position long after the SMA cross..
Financial independence is what I live for
  • #1,149
  • Jun 23, 2012 9:11am Jun 23, 2012 9:11am
Quoting smatthew
On page 1:



You're planning on taking a position long after the SMA cross..

did you notice ! I intend to play inside bar!!
  • #1,150
  • Jun 23, 2012 9:59am Jun 23, 2012 9:59am
inside bars is not bk system
  • #1,151
  • Jun 23, 2012 5:31pm Jun 23, 2012 5:31pm
Quoting behman8850
did you notice ! I intend to play inside bar!!
That's the point, you're on the wrong thread.
  • #1,152
  • Jun 24, 2012 9:52am Jun 24, 2012 9:52am
Quoting Axau
That's the point, you're on the wrong thread.
The reason bkg left initially...
  • #1,153
  • Jun 24, 2012 10:48am Jun 24, 2012 10:48am
Quoting behman8850
BKG and Friends,
please tell me. Gbp/Jpy is above 10 sma today. Also Inside bar today High being 125.73, so I would go long at 125.75 My TP is at 126.63 90 pips atr. between high and low. Your opinion please.
Thanks.
You should not take the trade now, it is too late. You should have taken the trade 13 days ago when the candle crossed and closed above the 10sma. Had you taken the trade at the correct time you would be up around 250 pips now and your s/l should be moved to +5, now the trade becomes a "No Loss" trade. Its really not that HARD!!
Please ask questions and share your experiences with us all!
  • #1,154
  • Jun 24, 2012 11:39am Jun 24, 2012 11:39am
Quoting bkg102665
You should not take the trade now, it is too late. You should have taken the trade 13 days ago when the candle crossed and closed above the 10sma. Had you taken the trade at the correct time you would be up around 250 pips now and your s/l should be moved to +5, now the trade becomes a "No Loss" trade. Its really not that HARD!!

Thanks BKG for your kind reply. Do you follow the theory of Daily Inside bar?/ Here we are talking about that Plus your 10 sma on daily chart.
  • #1,155
  • Jun 24, 2012 12:35pm Jun 24, 2012 12:35pm
Hi fellow traders,

Just found this thread, I'll join you guys. Thanks BKG, this might just be what I've been looking for.
  • #1,156
  • Jun 24, 2012 1:42pm Jun 24, 2012 1:42pm
Quoting bkg102665
You should not take the trade now, it is too late. You should have taken the trade 13 days ago when the candle crossed and closed above the 10sma. Had you taken the trade at the correct time you would be up around 250 pips now and your s/l should be moved to +5, now the trade becomes a "No Loss" trade. Its really not that HARD!!
we have crossover on the g/u by my charts at least.
  • #1,157
  • Jun 25, 2012 3:26am Jun 25, 2012 3:26am
I must say I rather like the idea of this trading strategy. Simple rules and clean charts - and I will demo trade this until I get the hang of it.

So, on demo account until I am sure I fully understand the strategy I have entered:

Short AUD/CAD and Short NZD/USD.

Both trades the price had crossed and closed below the 10SMA and were not far away from 200SMA which to me signalled recent resistance.

S/L as BKG suggests to manage it.

Still learning this so would appreciate any comments ....

Thanks
  • #1,158
  • Jun 25, 2012 7:43am Jun 25, 2012 7:43am
Quoting angiegiles00
I must say I rather like the idea of this trading strategy. Simple rules and clean charts - and I will demo trade this until I get the hang of it.

So, on demo account until I am sure I fully understand the strategy I have entered:

Short AUD/CAD and Short NZD/USD.

Both trades the price had crossed and closed below the 10SMA and were not far away from 200SMA which to me signalled recent resistance.

S/L as BKG suggests to manage it.

Still learning this so would appreciate any comments ....

Thanks
I dont have a close below the 10sma on the audcad. I am bearish this pair though. Can you post your chart?

Olu
If you think you can or cannot do it you are correct
  • #1,159
  • Jun 25, 2012 8:16am Jun 25, 2012 8:16am
Quoting Olu
I dont have a close below the 10sma on the audcad. I am bearish this pair though. Can you post your chart?

Olu
I'll try - never posted a chart before - till now I have always been a lurker of the forums!
  • #1,160
  • Jun 25, 2012 8:21am Jun 25, 2012 8:21am
OK - attached is the AUDCAD chart
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 38 KB
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