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Daily Chart w/ 10sma

  • #1,281
  • Sep 25, 2012 4:01am Sep 25, 2012 4:01am
Hi ya Pama.fx, Fondofallthi..

I'm glad you wrote on here today as I wrote to Bkg yesterday asking about the system as the thread had seemed to have stopped and I was hoping to see some input from other traders as I had used another similar system with great results a few years ago except this one seems even a little simpler which I like

Just wondering how are you both doing with this system as it's very similar to what I was doing before with great results..are you both doing great with the system if so would you mind throwing up charts when ever you get a chance of trades you are about to take and why as I would really appreciate your views and thought process!

Cheers,
Adrian
  • #1,282
  • Sep 25, 2012 4:15am Sep 25, 2012 4:15am
Quoting fondofallthi
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.
Hey Fondo..

Going on what I've learnt so far(halfway through thread) it looks like your trading into a 200SMA also strong resistance area so this would be a more of a close below the 10SMA for an entry short I feel and a close above the 200 and S/R would be more preferable for a long..

Cheers,
Adrian
Attached Image (click to enlarge)
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  • #1,283
  • Sep 26, 2012 5:33am Sep 26, 2012 5:33am
Took this Trade Yesterday, Hit my TP on my live account this morning but missed by a pip on the demo.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.jpg Size: 70 KB
Always Learning
  • #1,284
  • Sep 26, 2012 5:41am Sep 26, 2012 5:41am
Quoting JayTrader
Took this Trade Yesterday, Hit my TP on my live account this morning but missed by a pip on the demo.

Attachment
Hey Jay..

Good to see you here ..

Just wondering if you took that short if so I notice your trading into a strong support and the 200ma wouldn't that be better as a long trade or am I missing something?

Cheers,
Adrian
  • #1,285
  • Sep 26, 2012 5:56am Sep 26, 2012 5:56am
Quoting Ramjet
Hey Jay..

Good to see you here ..

Just wondering if you took that short if so I notice your trading into a strong support and the 200ma wouldn't that be better as a long trade or am I missing something?

Cheers,
Adrian
Correct It was a short trade . I had mp TP placed above the 200 and at the Daily support area ( all the places you mentioned) because this is where you are going to get a reaction to price, and on my live account I was 5 pips higher than these levels( and also higher than the demo pic that I posted) with my TP order so it finished out the trade when price tested the area. With this type of trading I rarely swing for the fences, I usually trade up to or down to the next support or resistance area and get out of the full trade. Hopefully I didn't make that more confusing

Take Care
Always Learning
  • #1,286
  • Sep 26, 2012 5:58am Sep 26, 2012 5:58am
Quoting JayTrader
Correct It was a short trade . I had mp TP placed above the 200 and at the Daily support area ( all the places you mentioned) because this is where you are going to get a reaction to price, and on my live account I was 5 pips higher than these levels( and also higher than the demo pic that I posted) with my TP order so it finished out the trade when price tested the area. With this type of trading I rarely swing for the fences, I usually trade up to or down to the next support or resistance area and get out of the full trade. Hopefully I didn't...
Awesome!..thanks for explaining Jay, crystal clear!
  • #1,287
  • Sep 26, 2012 6:07am Sep 26, 2012 6:07am
Jay I was just wondering if you have been trading this system since you ended up in this thread and how has it been going for you?

The system seems very simple and I was thinking have you noticed this is a pretty powerful system as it picks up the reactions in price very quickly and also it has to take advantage of PA and S/R areas for it to function making it as close to a clean chart you could pretty well get with the added advantage of making use of PA and S/R areas, would you agree/disagree?

Cheers,
Adrian
  • #1,288
  • Sep 26, 2012 6:28am Sep 26, 2012 6:28am
Quoting Ramjet
Jay I was just wondering if you have been trading this system since you ended up in this thread and how has it been going for you?

The system seems very simple and I was thinking have you noticed this is a pretty powerful system as it picks up the reactions in price very quickly and also it has to take advantage of PA and S/R areas for it to function making it as close to a clean chart you could pretty well get with the added advantage of making use of PA and S/R areas, would you agree/disagree?

Cheers,
Adrian
I absolutely agree , If you are a conservative trader with a good understanding of Price and S/R levels you can easily bring you success up to the 80ish% . The chop is what kills you that is why I am In and out on this system. I have 10 + years behind me in reading charts so I am sure this helps a lot. Just don't take big bites until you build up you experience and BKG's system will treat you right.
Always Learning
  • #1,289
  • Sep 26, 2012 6:50am Sep 26, 2012 6:50am
Quoting JayTrader
I absolutely agree , If you are a conservative trader with a good understanding of Price and S/R levels you can easily bring you success up to the 80ish% . The chop is what kills you that is why I am In and out on this system. I have 10 + years behind me in reading charts so I am sure this helps a lot. Just don't take big bites until you build up you experience and BKG's system will treat you right.
When you say don't take big bites do you actually stay in the trade till a cross and close above/below the 10SMA at times which in turn gives you larger pieces of the trade at times?

Have you been trading this on different TF's for your success or you predominantly stayed on the Dailies?
  • #1,290
  • Sep 26, 2012 7:17am Sep 26, 2012 7:17am
No I trade to the next support or resistance level dependent on Long or Short and get out. (Just my style, not trying to recreate the method) I only trade this on the Daily, I have a different method I use to trade W and M charts , same principle just no moving average, just levels.
Always Learning
  • #1,291
  • Sep 26, 2012 8:45am Sep 26, 2012 8:45am
Quoting JayTrader
No I trade to the next support or resistance level dependent on Long or Short and get out. (Just my style, not trying to recreate the method) I only trade this on the Daily, I have a different method I use to trade W and M charts , same principle just no moving average, just levels.
Thanks very much for your help Jay!
  • #1,292
  • Oct 2, 2012 7:25am Oct 2, 2012 7:25am
Hey guys and gals. Just my opinion but all the pairs I look at seem to be in a really tuff place now as far as trying to find direction. Do any of you see anything that looks interesting or tempting?
Please ask questions and share your experiences with us all!
  • #1,293
  • Oct 2, 2012 7:45am Oct 2, 2012 7:45am
Hi BKG,
aud/cad - short
aud/chf - short
and eur/jpy - long
They look interesting
Peter
  • #1,294
  • Oct 2, 2012 3:48pm Oct 2, 2012 3:48pm
Quoting bkg102665
Hey guys and gals. Just my opinion but all the pairs I look at seem to be in a really tuff place now as far as trying to find direction. Do any of you see anything that looks interesting or tempting?
Sorry Gone 4 the week away from charts
Always Learning
  • #1,295
  • Oct 2, 2012 3:49pm Oct 2, 2012 3:49pm
i am doing ok trading the 4 pairs that BK told us about.I am making money. for you that dont know about them here they are I donot rember where in the fourm that he told us about them and why they are different.

GBP/USD,,,,AUD/CAD,,,CHF/JPU,,,,EUR/NZD..
BK you might post page # ..it sure did help my trading
I have been trading over 10 yrs.. i have learned that trying to trade too many pairs is danger for most traders,,,, lol ,,,,,,,,TEXAN
  • #1,296
  • Oct 2, 2012 6:28pm Oct 2, 2012 6:28pm
Quoting bkg102665
Hey guys and gals. Just my opinion but all the pairs I look at seem to be in a really tuff place now as far as trying to find direction. Do any of you see anything that looks interesting or tempting?
how r u getting on?
how about gold, nz/u, gu (coming off due to pb)?
gu is under 9/10 sma

imho, yesterday's daily closes give good signals in many pairs for traders who are patience to wait

cheers
Trade As A Sniper
  • #1,297
  • Oct 2, 2012 6:33pm Oct 2, 2012 6:33pm
Hi Texan,
There's an old saying.....

In trading the 20/80 rule applies i.e. 20% of your trades are responsible for 80% of your profits

Fact - All big moves will be caught by using bkg system!
So if you just trade a few pairs (the fewer the better)and take ALL the signals, you should catch all the big moves

The more pairs you trade, then you need to have luck on your side to catch the big moves (you have limited capital and cannot take all trades)
Peter
  • #1,298
  • Oct 3, 2012 7:42pm Oct 3, 2012 7:42pm
BK wrote on page 66 pst 982
http://www.forexfactory.com/images/icons/icon1.gif
I would ask that the people that are having a hard time with this do me a favor. Take these four pairs AUD/CAD, CHF/JPY, EUR/NZD, GBP/USD and put on your chart like I have done on my attached chart. I want you to take every trade that where price crosses the 10sma. You will start to see your own reasons for taking a trade or not. Concentrate on these four pair only. I am sure someone is asking "Why these four pair?". The only reason is none of them have the same currency involved which gives you a better idea of how they all move differently. I think what happens a lot is if dollar gets weak everyone jumps on four USD trades and if the dollar reverses you find yourself with a big loss. Once in these trades are up 50 pips lock in s/l at +1.Lets see what happens! ,,,,,I .nave named thes as the fab 4 . know he follows 20 pirs and i am sure he does well.but these changed my trading life.. and i have been trading for over 10 yrs,,,,,,,i want to expres my thanks to bk for this system thanks ,,,TEXAN
  • #1,299
  • Oct 4, 2012 6:30am Oct 4, 2012 6:30am
Texan -

Thanks for the heads up and I will give these a go on my practice acct. I have a sell stop on the Z/$ and a buy stop of the lb/Y in my live acct. My only concern is that I trade the NY session and the fab 4 might be more active before that so maybe I have to learn to stay up[ later! Thanks again, p.
  • #1,300
  • Oct 4, 2012 4:59pm Oct 4, 2012 4:59pm
Quoting Texan
BK wrote on page 66 pst 982
http://www.forexfactory.com/images/icons/icon1.gif
I would ask that the people that are having a hard time with this do me a favor. Take these four pairs AUD/CAD, CHF/JPY, EUR/NZD, GBP/USD and put on your chart like I have done on my attached chart. I want you to take every trade that where price crosses the 10sma. You will start to see your own reasons for taking a trade or not. Concentrate on these four pair only. I am sure someone is asking "Why these four pair?". The only reason is none of them have...
I am very glad I have been able to help you out. Can you give me(and the others here) some kind of idea of your results? Something simple like the number of pips made in the last several months or maybe what percentage your account has increased in the last few months, no specific $ amounts.
Please ask questions and share your experiences with us all!
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