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Monthly Profit - Daily Trading using SMA

  • #121
  • Jul 29, 2016 10:16am Jul 29, 2016 10:16am
Quoting Bk8
{quote} As I mentioned earlier, BB middle line is eaually important since it acts sometime as Resistance level {image}
As per my past experience, peak time during US hours are 11:15 Am and 3 PM EST, did you guys notice the same?
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  • #122
  • Jul 29, 2016 10:28am Jul 29, 2016 10:28am
Hi Bk8, nice system you've got here. Simple and easy to trade.

I've got a question regarding the exit rules: "Exit - a. trigger stoploss high(+15 Pips)/low(-15 Pips) of previous candle b. cross BB top/bottom line 3. profit - min 3 new candles"

Point a. is pretty clear: move the stop loss to the high/low of the latest candle +/- 15 points
Point b. is also clear: exit if the price crosses the BB to the other side
Point c. however is not clear to me. Is it three consecutive candles in the direction of the trade? Or close if in profit after 3 candles? Could you please explain?

Thanks!
  • #123
  • Edited 11:15am Jul 29, 2016 10:58am | Edited 11:15am
Quoting kef2138
Hi Bk8, nice system you've got here. Simple and easy to trade. I've got a question regarding the exit rules: "Exit - a. trigger stoploss high(+15 Pips)/low(-15 Pips) of previous candle b. cross BB top/bottom line 3. profit - min 3 new candles" Point a. is pretty clear: move the stop loss to the high/low of the latest candle +/- 15 points Point b. is also clear: exit if the price crosses the BB to the other side Point c. however is not clear to me. Is it three consecutive candles in the direction of the trade? Or close if in profit after 3 candles?...
Thanks kef2138!
Point C - I prefer to take profit atleast 3 times of stoploss.. so regardless some bad days still we should be profitable at the end of month. Candles does not have to be consecutive.. e.g. day 1 - profit, day 2 - loss, day 3 - profit , day 4 - profit so if we do not want to wait further we can close the position and on average we should have profit 200-300 pips..

Nowadays I am trying to wait forever until my stop loss gets triggered itself. Let me try to explain you this part

1. Day 1 - setup formed, Open Positon, stoploss - high/low(+-15 pips) of previous candle
2. Day 2 - suppose we have profit, shift stop loss to breakeven
3. Day 3 - we may end up with breakeven or wipe off some profit pips or new profit candle..
a. if loss of some previous profit pips... no change and wait for next day
b. if we have new profit candle then shift the stop loss to previous days candle and so on..

here is the best example, I am waiting for last 5 days.. I could have made more profit on second day tself when candle crossed BB top line

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  • #124
  • Jul 29, 2016 12:18pm Jul 29, 2016 12:18pm
Thanks for clearing that up!
  • #125
  • Edited 12:55pm Jul 29, 2016 12:27pm | Edited 12:55pm
This setup's second profit candle is in progress but setup has already earned 260 pips so far!! Other one has earned around 150 pips

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  • #126
  • Jul 29, 2016 12:39pm Jul 29, 2016 12:39pm
Here is another example one exit startegy.. since I took 2 positions of AUDUSD, so I will close one today
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  • #127
  • Jul 29, 2016 12:51pm Jul 29, 2016 12:51pm
This screenshot is from another account, since GU is not doing well so I have to close both GU and NU
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  • #128
  • Jul 29, 2016 1:16pm Jul 29, 2016 1:16pm
I have to logoff now, since today is last day of July so let me post screenshots of other 2 accounts. So far I have 4 accounts... I am planning to open 5th account next week.
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  • #129
  • Jul 29, 2016 1:40pm Jul 29, 2016 1:40pm
is there a reason why you have several accounts?
  • #130
  • Jul 29, 2016 2:19pm Jul 29, 2016 2:19pm
Hi Bk8,

I have asked for desktop MT4 screenshots but never mind, I have scaled to your size and the chart looks good, ref. attached.

I trade CFDs for efficiency like JPN225, Ger30. I currently trade on H1 on reversals but your daily method looks promising too.

I interpreted "when a bar clearly crossed sma" as "closed past sma" and drew my entry line in sky blue horizontal line.
Your comments appreciated.

Thanks again for sharing this method.
RisingSun
Attached Image
  • #131
  • Jul 29, 2016 3:17pm Jul 29, 2016 3:17pm
First trades showing promising results!
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  • #132
  • Edited 4:49pm Jul 29, 2016 3:53pm | Edited 4:49pm
Can anyone modify this price/sma cross alert indy to accomodate the shift of sma? Thanks in advance.
RisingSun
Attached File(s)
File Type: mq4 xpMA.mq4   16 KB | 588 downloads
  • #133
  • Jul 29, 2016 3:59pm Jul 29, 2016 3:59pm
Quoting Bk8
Here is other example of exit, at first glance it looks like 3 candles profit but technically it is eqivalent to 2 candles so I will wait for few more days {image}
So you use a 3:1 risk reward, correct? And from your SL to your entry = 1 candle?
  • #134
  • Jul 29, 2016 10:05pm Jul 29, 2016 10:05pm
Quoting RisingSun
Hi Bk8, I have asked for desktop MT4 screenshots but never mind, I have scaled to your size and the chart looks good, ref. attached. I trade CFDs for efficiency like JPN225, Ger30. I currently trade on H1 on reversals but your daily method looks promising too. I interpreted "when a bar clearly crossed sma" as "closed past sma" and drew my entry line in sky blue horizontal line. Your comments appreciated. Thanks again for sharing this method. RisingSun {image}
I have the same doubt
Humble & Kalcker CLO2 = Covid killer
  • #135
  • Edited 6:13pm Jul 30, 2016 5:58pm | Edited 6:13pm
Quoting jusiur
{quote} I have the same doubt
​That's correct, Please see below setup was formed on 26th July, I always open or close positions when candle opens or closes
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Attached Image
  • #136
  • Jul 30, 2016 8:42pm Jul 30, 2016 8:42pm
Quoting edge0xc
is there a reason why you have several accounts?
Simple, I do not want all eggs in one basket��
  • #137
  • Jul 30, 2016 9:14pm Jul 30, 2016 9:14pm
Quoting Bk8
{quote} ​That's correct, Please see below setup was formed on 26th July, I always open or close positions when candle opens or closes {image} {image}
Nice chart! Now its all clear. Thanks,
RisingSun
  • #138
  • Jul 30, 2016 9:31pm Jul 30, 2016 9:31pm
Quoting RisingSun
{quote} Nice chart! Now its all clear. Thanks, RisingSun
  • #139
  • Jul 30, 2016 10:37pm Jul 30, 2016 10:37pm
Quoting Bk8
{quote}
understood too, thanks for the clarification. These last months have been studying in depth and trading with Gann HiLo (5), is impressive behavior so similar to your strategy with sma (5.3) but if I'm honest I have noticed with sma method more stability since gann is quite sensitive for its configuration especially on relative and high volatility.
look forward to following your thread
Humble & Kalcker CLO2 = Covid killer
  • #140
  • Jul 30, 2016 11:54pm Jul 30, 2016 11:54pm
Quoting jusiur
{quote} understood too, thanks for the clarification. These last months have been studying in depth and trading with Gann HiLo (5), is impressive behavior so similar to your strategy with sma (5.3) but if I'm honest I have noticed with sma method more stability since gann is quite sensitive for its configuration especially on relative and high volatility. look forward to following your thread
was thinking about gann, so interesting to know of your comparison. most concern is thd DD of this method. it won't be always like Bk8's example. will be following with forward demoing and will upload results as they occur ...
RisingSun
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