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Daily Chart w/ 10sma

  • #1,261
  • Jul 13, 2012 11:56am Jul 13, 2012 11:56am
This is what I see on the day charts - not a fan of H1
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"To live with Passion, it takes Courage and Grace to survive"
  • #1,262
  • Jul 15, 2012 4:36pm Jul 15, 2012 4:36pm
G/U closed above SMA10.
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Financial independence is what I live for
  • #1,263
  • Jul 17, 2012 2:47pm Jul 17, 2012 2:47pm
Quoting smatthew
G/U closed above SMA10.
Position got over +50 (stop to BE), nearly reached resistance and finally hit my stop at +5.

On to the next trade!
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Financial independence is what I live for
  • #1,264
  • Jul 17, 2012 5:15pm Jul 17, 2012 5:15pm
Price more or less at resistance with room below..
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Financial independence is what I live for
  • #1,265
  • Jul 22, 2012 8:20pm Jul 22, 2012 8:20pm
Quoting bkg102665
I hope you guys picked up some of these short trades :-))
Due to time constraints (and poor trading....) I have been transitioning my trading to Daily charts only. I have been trying/testing several methods, and I really like this method.

Clean Charts, Price action based, and Simple!
Thanks for putting this together.

I took GU short this evening - looked like a good setup.

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MikeB
  • #1,266
  • Aug 27, 2012 12:19pm Aug 27, 2012 12:19pm
y/n
Quoting smatthew
Position got over +50 (stop to BE), nearly reached resistance and finally hit my stop at +5.

On to the next trade!
  • #1,267
  • Aug 27, 2012 1:23pm Aug 27, 2012 1:23pm
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.
Great thread
I am not clear about what you consider daily candle.
NY 5pm? start of Asian
London 3pm?
What I like to know what time in a day when daily crosses 10sma you place your orders.
Thank you
In trading, you have to be defensive and aggressive at the same time
  • #1,268
  • Aug 27, 2012 1:42pm Aug 27, 2012 1:42pm
Quoting Davit
Great thread
I am not clear about what you consider daily candle.
NY 5pm? start of Asian
London 3pm?
What I like to know what time in a day when daily crosses 10sma you place your orders.
Thank you

Generally, new day is your brokers new day....
  • #1,269
  • Aug 27, 2012 1:51pm Aug 27, 2012 1:51pm
Quoting Coast101
Generally, new day is your brokers new day....
Still not clear about importance of time.
London open arguably is strong, NY and London until 12pm the strongest.
Say your 10sma crossed in 7pm Asian when there is no liquidity and come London you get screwed because you based your cross at the time when market was weakest.
There are guys only trade London open or NY but I have not come across brokers daily candle as base.
In trading, you have to be defensive and aggressive at the same time
  • #1,270
  • Aug 28, 2012 12:54am Aug 28, 2012 12:54am
the daily close is typically measured by the NY session close; yes big players in asia and euro also use it. with that being said...each session typically acts very differently; something very important to note and study if trading intraday.
the broker close isn't really relevant as I believe the poster above is referring to some of those MT4 brokers or something. the market does not follow those brokers.
  • #1,271
  • Sep 2, 2012 5:55am Sep 2, 2012 5:55am
Looks like this thread has been abandoned
Pity because this is a great setup.........

I have not read the thread completely, too busy, but from what I have read, some of us are taking trades where we have lots of S/R, traffic to the left on our charts, and over lapping candles - especially with long tails

We want to cut our losing trades to a minimum, and give our winning trades room to move so keep out keep out of the above situations!

Best place to take trades may be....
1 Breakout from congestion coinciding with ma signal
2 Trend reversal again coinciding with ma signal

As "they say", just take the A trades - much more easier on the emotions (even though we may miss the odd good trade)

For every losing trade, this has to be compensated for from profits of our winners
  • #1,272
  • Edited 3:45pm Sep 2, 2012 3:02pm | Edited 3:45pm
Quoting Davit
Still not clear about importance of time.
London open arguably is strong, NY and London until 12pm the strongest.
Say your 10sma crossed in 7pm Asian when there is no liquidity and come London you get screwed because you based your cross at the time when market was weakest.
There are guys only trade London open or NY but I have not come across brokers daily candle as base.
Don't get caught up in the trade this session or that . You are trading a daily chart with daily stops, with a daily signal, so it really doesn't matter about the session you are trading, does it? You are trading from a set point down to the next or up to the next. Looking at the time of day or night has no bearing on your success of the trade , but on how fast or slow you get there according to your argument ( momentum) if your signal is still a valid signal. Take the trade you will be fine if it was a good signal.
Always Learning
  • #1,273
  • Sep 2, 2012 3:50pm Sep 2, 2012 3:50pm
Quoting JayTrader
Don't get caught up in the trade this session or that . You are trading a daily chart with daily stops, with a daily signal, so it really doesn't matter about the session you are trading, does it? You are trading from a set point down to the next or up to the next. Looking at the time of day or night has no bearing on your success of the trade , but on how fast or slow you get there according to your argument ( momentum) if your signal is still a valid signal. Take the trade you will be fine if it was a good signal.
No truer words have ever been uttered........
  • #1,274
  • Sep 20, 2012 1:53am Sep 20, 2012 1:53am
BKG could you please let us know your sma settings?
  • #1,275
  • Sep 20, 2012 1:59am Sep 20, 2012 1:59am
Quoting k4u
BKG could you please let us know your sma settings?
You're kidding right?
.
.
.
.
  • #1,276
  • Sep 20, 2012 8:42am Sep 20, 2012 8:42am
Quoting tradestar1
You're kidding right?
.
.
.
.
Is in the title of the thread...

Olu
If you think you can or cannot do it you are correct
  • #1,277
  • Sep 24, 2012 11:14am Sep 24, 2012 11:14am
Quoting k4u
BKG could you please let us know your sma settings?
bkg since july 16 this year yet to return to his thread ?!? as of this writing... wonder why?
Trade As A Sniper
  • #1,278
  • Sep 24, 2012 3:29pm Sep 24, 2012 3:29pm
Hey folks I just wanted you guys to know I am still around and still trading my 10sma. It has been a busy summer and I will try to be here more than the past few months but I must admit it does get a little frustrating when I get asked some of the questions I get asked. Rasther than hurt someone's feeling I just decide to disappear for a while. I hope some of you are having some sort of success with this by now. Check back later
Please ask questions and share your experiences with us all!
  • #1,279
  • Sep 24, 2012 6:12pm Sep 24, 2012 6:12pm
Quoting bkg102665
Hey folks I just wanted you guys to know I am still around and still trading my 10sma. It has been a busy summer and I will try to be here more than the past few months but I must admit it does get a little frustrating when I get asked some of the questions I get asked. Rasther than hurt someone's feeling I just decide to disappear for a while. I hope some of you are having some sort of success with this by now. Check back later
welcome back
Trade As A Sniper
  • #1,280
  • Sep 25, 2012 1:32am Sep 25, 2012 1:32am
Really nice system.

Just wondering what the thought is on my setup.

I feel my S/R lines are perhaps weak or not well drawn. I went long on this one.

Cheers
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