Monthly Profit - Daily Trading using SMA

I am out now

120 pips so far

Closed A/CHF after 120 pips

70 Pips profit so far

Possible long setup for USDJPY?

I'm considering long on UJ too. However that will be counter trend trade. Hope Bk8 can share thought on that. Thanks

Is this a good entry?

Yes andrern, I took position too

Yes I took position too

I am with you, good luck!

Looks like BB middle line is blocking again... lets hope that that it will bounce back by morning

Hi Bk8,
It already hit the bottom of the bollinger band. Shall we close?

I wanted to mention some backtesting results that should interest everyone here.

I recently completed backtests on GBPUSD from July 31 2015 to July 31 2016 (260 trading days) first using the original rules, another test using a two bar trailing stop instead of the one bar TS, and finally another by entering two positions and closing half by the original rules and half after price closed on the opposite side of the SMA line.

The original rules came out with a net profit of 1010 pips, the next test offered 900 pips, and the last gained 1050 pips. There were about 30 entries on each. This is not a large number of trades to consider, but it should be enough to decide if it is worth further testing. Overall the three variations offer similar results but the original method is better as I explain below.

The exciting part is that the win rate is about 65% to 70% with the winners size slightly over twice as large as the losers, on average. If my numbers are correct, the largest loss on the original system during this time was only 140 pips. This will vary depending on the currency pair and volatility. Also, the others had larger winners and losers that adds more possible drawdown with little or no extra benefit.

I don't know all the technical terms for what it all means, like profit factor, sharpe ratio, and all that, but if the other pairs offer this kind of return overall then it would seem to be an exceptionally profitable system.

Anyone that is interested, and you should be, can easily backtest the system on all the currency pairs, since it is a simple system. Just like Bk8, I have gone through the school of hard knocks in trading and I agree that most known strategies are garbage that will just blow out your account. I have found very few that will make you consistently profitable. I think this one is worth some serious attention.

If you do backtest you may find there are slight variations in the numbers compared to what I found, due to the broker's EOD time and other variables, but the results should be close enough to give you a good sense of how the system has been performing.

It's work fine.

thank you PistolDave for your effort.......nice to know that this system is profitable over the last year for G/U.

your figures indicate 30 trades: 20 wins and 10 losses - average loss about 32 pips - average win about 66 pips.
are those numbers about right?
across 28 pairs @ 1,000 pips/year = 28,000 pips anually??????????

will test some other pairs over the same time period and will let everybody know.

anyone with USD/JPY .. AUD/JPY ..EUR/USD AND NZD/USD ?
what wrong with eurusd usdjpy

If you winining everywhere then we can wait for more profits

I think you should be fine with AJ. EU, UJ and NU are not performing as expected so you may close them today EOD if new setups have better chances.

Yes, me. Took all opportunities with tiny lots. EURUSD is snoozefest. USDJPY seems to be rallying down a bit, NZDUSD a bit up. NZD got a slight push this night. I'm still in, but moved stops of USDJPY a bit closer.