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Monthly Profit - Daily Trading using SMA

  • #301
  • Edited 7:06am Aug 9, 2016 6:51am | Edited 7:06am
Quoting mw108
{quote} 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.
I would recommend that we should be ready to take risk of 1 candle atleast.. if you sum of all pips we are loosing less than 20 pips so why to worry about?
Right now my all 5 accounts are green
  • #302
  • Aug 9, 2016 6:53am Aug 9, 2016 6:53am
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  • #303
  • Aug 9, 2016 6:57am Aug 9, 2016 6:57am
Attachment
  • #304
  • Aug 9, 2016 6:58am Aug 9, 2016 6:58am
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  • #305
  • Aug 9, 2016 7:06am Aug 9, 2016 7:06am
Quoting Bk8
{image}
Might be forming a DT - or reach the BB (50 Pips to go), are you holding?
  • #306
  • Aug 9, 2016 7:08am Aug 9, 2016 7:08am
BK8 ..
u r not trading NZD/USD ?
  • #307
  • Aug 9, 2016 7:11am Aug 9, 2016 7:11am
Quoting shaan295
BK8 .. u r not trading NZD/USD ?
Sorry I posted yesterday that I am out since it was going reverse
  • #308
  • Aug 9, 2016 7:14am Aug 9, 2016 7:14am
Ok, so who killed the EUR/USD stuck in a 25 pip range again......
  • #309
  • Aug 9, 2016 8:18am Aug 9, 2016 8:18am
Quoting Go5
{quote} Might be forming a DT - or reach the BB (50 Pips to go), are you holding?
Yes I am holding this
  • #310
  • Aug 9, 2016 8:20am Aug 9, 2016 8:20am
Quoting laikos
{quote} Hi Bk8, It already hit the bottom of the bollinger band. Shall we close?{image}
More more
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  • #311
  • Aug 9, 2016 8:21am Aug 9, 2016 8:21am
Quoting Recardo
Ok, so who killed the EUR/USD stuck in a 25 pip range again......
Yeah Its frustrating..
  • #312
  • Aug 9, 2016 8:22am Aug 9, 2016 8:22am
I love this
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  • #313
  • Aug 9, 2016 8:25am Aug 9, 2016 8:25am
Looks like it will trigger stoploss and then bounce back to long
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  • #314
  • Aug 9, 2016 8:42am Aug 9, 2016 8:42am
Quoting Bk8
Looks like it will trigger stoploss and then bounce back to long {image}
Might have needed a stronger close above the SMA on previous candle, there's bids at 102.00 so you could be safe.
  • #315
  • Aug 9, 2016 8:55am Aug 9, 2016 8:55am
Bk8, if a trade reverses through the SMA will you close the trade, or will hold until it hits stop loss?
  • #316
  • Aug 9, 2016 9:14am Aug 9, 2016 9:14am
Quoting andrern2000
Bk8, if a trade reverses through the SMA will you close the trade, or will hold until it hits stop loss?
Normally I hold but if There is long wick and loss is few pips only then I prefer to close when new candle starts
  • #317
  • Edited 8:54pm Aug 9, 2016 9:51am | Edited 8:54pm
Lol, snoozefest?
  • #318
  • Aug 9, 2016 10:29am Aug 9, 2016 10:29am
Quoting yonnie
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.
On my charts, it was 17 wins, 13 losses. I had the win rate wrong when I posted earlier. I thought it was 65% to 70% but it looks closer to 57% on the GBPUSD during the time period. The average win was around 130 pips and average loss was about 60 pips.

I'm saying "about this much" and "around this" because a few of these could have been a little different depending on exactly where the stop was placed, where you entered, where you took profit, etc. It's easy to look back at charts and see what you want to see, if you're not careful. I think backtesting is worthwhile to do because it can give you a rough idea of what was possible, but not exactly what you would have achieved. Still, any any method that shows a positive expectancy, or "edge" in the market, is worth looking into.
  • #319
  • Aug 9, 2016 11:33am Aug 9, 2016 11:33am
Quoting PistolDave
{quote} On my charts, it was 17 wins, 13 losses. I had the win rate wrong when I posted earlier. I thought it was 65% to 70% but it looks closer to 57% on the GBPUSD during the time period. The average win was around 130 pips and average loss was about 60 pips. I'm saying "about this much" and "around this" because a few of these could have been a little different depending on exactly where the stop was placed, where you entered, where you took profit, etc. It's easy to look back at charts and see what you want to see, if you're not careful. I think...
Great, Thanks PistolDave... did you exclude sideways?
  • #320
  • Aug 9, 2016 1:37pm Aug 9, 2016 1:37pm
Quoting Bk8
{quote} Great, Thanks PistolDave... did you exclude sideways?
Honestly, no, I didn't pay much attention to that. I basically just took the entries and exits according to the other rules. Another mistake I made. No wonder I have trouble making money.

I can see now that learning to avoid the sideways conditions can make a difference to the profitability overall. Probably will increase it.

The trick is to identify that you are in a trading range as early as possible and avoid it until there is a breakout, I think.
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