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Daily Chart w/ 10sma

  • #1,221
  • Jun 29, 2012 10:39am Jun 29, 2012 10:39am
Quoting balloontree
One "rude" question:
why do you have a job?

I'm in my job, and I want to do forex trading and if I found a way, I will not work anymore.......
I guess this question was directed toward me. I enjoy what I do plus this system is still is the early phase. I want a way to make money on a consistant basis when I get ready for retirement. This system is not perfect nor will it ever be but I keep trying to make it better.
Please ask questions and share your experiences with us all!
  • #1,222
  • Jun 29, 2012 11:07am Jun 29, 2012 11:07am
Well, the Euro zone “optimism” pushed the Euro up and took out my stop which I had a couple of pips to the profit side. Overall results were 59 pips for a 5 day trade. A smart thing to have done would have been to close more of the original trade, say 70% knowing that news was coming. I left 50% open partly because I had was too focused on the Greek issues and not the bigger euro zone direction. BKG and fellow traders – any thoughts on this?
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  • #1,223
  • Edited Jun 30, 2012 7:46am Jun 29, 2012 6:59pm | Edited Jun 30, 2012 7:46am
Quoting bkg102665
I guess this question was directed toward me. I enjoy what I do plus this system is still is the early phase. I want a way to make money on a consistant basis when I get ready for retirement. This system is not perfect nor will it ever be but I keep trying to make it better.

I'm on page 25 and I think the simple system is quite good! I feel that when you reach the ability to place 1 lot, with about $50k or $100k; I think that's when you can retire!!

Let me catch up with the readings;

thanks
  • #1,224
  • Jun 30, 2012 10:33am Jun 30, 2012 10:33am
Quoting bkg102665
My new daily candle with FXDD starts at 5pm est and my IBFX candle starts at 8pm est.


oh yeah! I was thinking of going with Oanda which is like using EST -4 or -5 GMT can't remember;

Was wondering if it will work. does the trades in fxdd work well?
  • #1,225
  • Edited 12:10pm Jun 30, 2012 10:39am | Edited 12:10pm
Quoting bkg102665
Speaking of EA's I have been working with one and I am adding it to a demo account today to track success. I am going to take every trade that the indicator tells me to on 18 different pairs. I will do my best to post the results daily. Let's see what happens. The account has $5000 to start.

how did this go!?
please share the secret!



btw, do you have the indicator for the arrows in the chart?
I tried to download in the first few post but the arrows didn't show up
do you have the source code too?
  • #1,226
  • Jul 1, 2012 10:46pm Jul 1, 2012 10:46pm
anyone watching GJ? looks like a good signal for tomorrow; when price close below 10SMA + trendline + resistance + room to move down~~
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  • #1,227
  • Jul 2, 2012 6:29am Jul 2, 2012 6:29am
Quoting balloontree
anyone watching GJ? looks like a good signal for tomorrow; when price close below 10SMA + trendline + resistance + room to move down~~
I am watching this one

Olu
If you think you can or cannot do it you are correct
  • #1,228
  • Jul 2, 2012 7:00am Jul 2, 2012 7:00am
Quoting balloontree
anyone watching GJ? looks like a good signal for tomorrow; when price close below 10SMA + trendline + resistance + room to move down~~
It's too close to the 200sma for me to be comfortable with it.
  • #1,229
  • Jul 2, 2012 7:41am Jul 2, 2012 7:41am
Quoting balloontree
anyone watching GJ? looks like a good signal for tomorrow; when price close below 10SMA + trendline + resistance + room to move down~~
I would not consider going short on this pair unless I had a daily close below 122.70. Thats just my opinion, play it as you see it.
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Please ask questions and share your experiences with us all!
  • #1,230
  • Jul 2, 2012 9:47am Jul 2, 2012 9:47am
Quoting bkg102665
I would not consider going short on this pair unless I had a daily close below 122.70. Thats just my opinion, play it as you see it.

hmmm, if it close like the price now, we have like 100 pips to grab and run?
  • #1,231
  • Jul 3, 2012 5:28am Jul 3, 2012 5:28am
Quoting Olarion1975
I tried your method BKG and I must say it is really stress-free trading...

I think for people having a full-time job as myself this daily system is one of the easiest and most profitable.

I entered some short trades this week when price closed below the 10sma or backed up closer to the 10sma...currently got a floating profit of almost +500 pips!

I am tempted to close some of the trades, but I will wait for price reaching nice TP zones like last swing high/lows, s/r zones or trendline touches. If I see a bullish daily candle close...

Hallo Olarion,

bin bei Extreme TMA auf Deinen Namen aufmerksam geworden. Hätte zu Extreme TMA System Fragen an Dich, wenn es keine Umstaände macht.

Ist diese System hier im thread vorteilhafter? Habe mich noch nicht eingelesen.


meine e-mail: [email protected]

Würde mich auf eine Amntwort freuen.

Gruß
Leonhard
  • #1,232
  • Jul 3, 2012 8:03am Jul 3, 2012 8:03am
Quoting Meta1
Hallo Olarion,

bin bei Extreme TMA auf Deinen Namen aufmerksam geworden. Hätte zu Extreme TMA System Fragen an Dich, wenn es keine Umstaände macht.

Ist diese System hier im thread vorteilhafter? Habe mich noch nicht eingelesen.


meine e-mail: [email protected]

Würde mich auf eine Amntwort freuen.

Gruß
Leonhard
All the above should have been a PM...
If you think you can or cannot do it you are correct
  • #1,233
  • Jul 3, 2012 9:33am Jul 3, 2012 9:33am
Typical lazy assed request...... is the system profitable? I haven't read the thread...................
  • #1,234
  • Jul 3, 2012 10:13am Jul 3, 2012 10:13am
Quoting Olu
All the above should have been a PM...
really ?
Open your eyes please.
  • #1,235
  • Jul 3, 2012 10:36am Jul 3, 2012 10:36am
Quoting Meta1
really ?
Open your eyes please.
Hello meta, welcome to my Ignore List.
  • #1,236
  • Jul 3, 2012 12:59pm Jul 3, 2012 12:59pm
Quoting piprac
Hello meta, welcome to my Ignore List.
same here...

Olu
If you think you can or cannot do it you are correct
  • #1,237
  • Jul 4, 2012 1:32am Jul 4, 2012 1:32am
Nice thread and great to see a lack of swarms of indicators creeping in

I always have fractals and 200EMA as well as an RSI which may or may not run in the second window - mostly run it in the data window.

Big E on TMS had a method running for a while where he was taking entries on the cross and close above / below 5EMA shift 2. Interesting to map the 10SMA and see that it smooths out the bumps in the 5EMA, so is a much smoother line - works really well.

I also found another approach on the RSI 21 and after playing around with RSI 10, I settled on running RSI 9 and 21 as a cross system. The 9/21 cross looks pretty consistent with the close above / below the SMA10, so no real value add there. It can work well as a heads up for spotting divergence with PA - not for every reversal, but can give an early warning on occasions.

I marked 4 examples on the GBP/JPY.

Not sure on the current SMA10 bull cross from yesterday - 200EMA currently seems to be too strong, so lots of Supply at this point.
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"To live with Passion, it takes Courage and Grace to survive"
  • #1,238
  • Jul 4, 2012 5:43pm Jul 4, 2012 5:43pm
we dont care about bigE we only care about MR. BKG OK ....Brit you know beter
  • #1,239
  • Jul 4, 2012 6:02pm Jul 4, 2012 6:02pm
Quoting Texan
we dont care about bigE we only care about MR. BKG OK ....Brit you know beter
The feeling is mutual - your lack of courtesy obviously speaks volumes.

I'll not be reading any of your future pearls of wisdom - another one to add to the ignore list
"To live with Passion, it takes Courage and Grace to survive"
  • #1,240
  • Jul 4, 2012 6:34pm Jul 4, 2012 6:34pm
Hey people, I have been testing this system since the start of this thread. I can not deny that I have made a minimal modification (irrelevant) to adapt the system to my own style.

One of this changes is that I use the SMA10 system not only in Dailys charts, but also in 4H and 1H charts, and I have good results too!!! So, I ask you people, if you have had a similar experience. What do you think about?

BKG, again thanks. Please if you think this question is not appropiate for this thread, just tell me and I will erase it.

Greg.
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