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Monthly Profit - Daily Trading using SMA

  • #421
  • Aug 17, 2016 11:46pm Aug 17, 2016 11:46pm
Quoting lesuer26
{quote} Are you keeping fundamental tabs on all of the currencies, and basing your entry on PA and fund.
Not always.. but recenly I noticed that I could not retain my maximum profit due to red news so started monitoring little bit..
if you look at following setup... its hard to find even 10% similar setups, that did not move in desired direction... however I did not reliaze that second candle is little small.. so that could be one of the reasons too
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  • #422
  • Aug 18, 2016 12:49am Aug 18, 2016 12:49am
Quoting Bk8
{quote} Its easy to answer later but trust me I did not get chance to check this thread earlier NJ has same sideways issues.. in simple words there should not be any parallel candle left to new candle.. kind of triangle shape.. However as you know no setup can be 100% guranteed and any setup can be loser. As long as we are even 1% ahead we can make enough money from forex. {image}
Hi BK8,

I think I still have problem to identify the sideways issue. I traded NJ pair and it hit my SL due to sideways.

Can you share with me how you identify the sideways? Apparently it's not always good entry if the candle breakout SMA(5,3) + stochastic.
  • #423
  • Aug 18, 2016 1:13am Aug 18, 2016 1:13am
Quoting Bk8
{quote} I do not think it wae correct setup since pattern was sideways {image}
Why my bear candle cross the 5 SMS where yours did not cross?
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  • #424
  • Aug 18, 2016 4:33am Aug 18, 2016 4:33am
Anyone looking at eurgbp?
  • #425
  • Aug 18, 2016 4:50am Aug 18, 2016 4:50am
yes looking good and getting ready for green pips
  • #426
  • Aug 18, 2016 5:50am Aug 18, 2016 5:50am
Quoting Bk8
{quote} Not always.. but recenly I noticed that I could not retain my maximum profit due to red news so started monitoring little bit.. if you look at following setup... its hard to find even 10% similar setups, that did not move in desired direction... however I did not reliaze that second candle is little small.. so that could be one of the reasons too {image}
wow morning surprises
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  • #427
  • Edited 6:40am Aug 18, 2016 6:11am | Edited 6:40am
Quoting domdom1984
{quote} Hi BK8, I think I still have problem to identify the sideways issue. I traded NJ pair and it hit my SL due to sideways. Can you share with me how you identify the sideways? Apparently it's not always good entry if the candle breakout SMA(5,3) + stochastic.
I think its not hard to identify sideways e.g. I took this position 3-4 days back but it lost trend.. so you can ignore this setup tonight even if it cross SMA
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  • #428
  • Aug 18, 2016 6:13am Aug 18, 2016 6:13am
Another surprises, good to see
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  • #429
  • Aug 18, 2016 6:37am Aug 18, 2016 6:37am
One more
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  • #430
  • Aug 18, 2016 7:12am Aug 18, 2016 7:12am
Are these examples of good entry points?
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  • #431
  • Aug 18, 2016 9:03am Aug 18, 2016 9:03am
Quoting IrishTrader
Are these examples of good entry points? {image}
They look ok to me, as the two candles prior to the cross of the SMA are under (Buy) or over (Sell).
  • #432
  • Aug 18, 2016 10:02am Aug 18, 2016 10:02am
I am using this method for two days trading. So far Cadchf and nzdchf are moving sideways.

All ll the trades not hitting the TP yet, but I am moving SL to protect profit.
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  • #433
  • Aug 18, 2016 10:03am Aug 18, 2016 10:03am
Here is the cadchf sideways entry price

Did I miss out anything?
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  • #434
  • Aug 18, 2016 11:04am Aug 18, 2016 11:04am
Quoting IrishTrader
Are these examples of good entry points? {image}
Yep.. perfect example
  • #435
  • Aug 18, 2016 11:06am Aug 18, 2016 11:06am
Quoting domdom1984
I am using this method for two days trading. So far Cadchf and nzdchf are moving sideways. All ll the trades not hitting the TP yet, but I am moving SL to protect profit. {image}
  • #436
  • Aug 18, 2016 11:11am Aug 18, 2016 11:11am
Quoting domdom1984
Here is the cadchf sideways entry price Did I miss out anything? {image}
Your entry is fine.
  • #437
  • Aug 18, 2016 12:09pm Aug 18, 2016 12:09pm
So i modified a script that you can run and it will tell you which pairs out of the market watch had a crossover the day before.

the mqh file goes in your include folder and the other two go in scripts.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-08-18 at 18.08.12.png Size: 78 KB
Attached File(s)
File Type: mqh SymbolsLib.mqh   2 KB | 667 downloads
File Type: ex4 Daily Cross.ex4   8 KB | 663 downloads
File Type: ex4 SymbolsLib.ex4   8 KB | 669 downloads
So many in the Commercial section want to make me rich! :o
  • #438
  • Aug 18, 2016 2:18pm Aug 18, 2016 2:18pm
I've found it to be more profitable to move to break even once it moves 40pips in your favour
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So many in the Commercial section want to make me rich! :o
  • #439
  • Aug 18, 2016 2:45pm Aug 18, 2016 2:45pm
Quoting Bk8
{quote} Here is one of the example of sideways, in simple words I look for stack of candles {image}
Thank you
  • #440
  • Aug 18, 2016 3:20pm Aug 18, 2016 3:20pm
hi Bk8, thanks for sharing your idea with us.
just curious, do you consider my examples below as a trade opportunity because the previous candle is in the opposite side of the SMA with the next candle?
and what will you do if when you still have long position, then the candle cross down the SMA? close the long and switch it with short? or you take both of them, and wait which one will hit SL?

thank you
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