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Monthly Profit - Daily Trading using SMA

  • #461
  • Aug 18, 2016 11:18pm Aug 18, 2016 11:18pm
Quoting Bk8
Will close this position {image}
Not to sound pessimistic but I'll advice you exit your gbpusd buy order,you made a lot of pips and I think today would be for the bears which is the theam of this currency pair (sell) i i jui just sold at 3164 SL 3184 tp 3100 and below
  • #462
  • Aug 18, 2016 11:23pm Aug 18, 2016 11:23pm
Quoting ohakaba
{quote} Not to sound pessimistic but I'll advice you exit your gbpusd buy order,you made a lot of pips and I think today would be for the bears which is the theam of this currency pair (sell) i i jui just sold at 3164 SL 3184 tp 3100 and below
Already booked some profit at 3142 am a bit skeptical about this move down, so closed half my lots and left the other half with SL at 3175 and tp 3064
  • #463
  • Aug 18, 2016 11:36pm Aug 18, 2016 11:36pm
Quoting Bk8
{quote} Thanks Saranga, I took GN too.. 40 pips profit so far but we may have surprises in the morning.. I do not trust AUD and GBP pair...they always give me surprises in the morning {image}
Just sold usdjpy @ 100.35 SL 100.47 tp, it depends on volatility, although I don't intend to hold for long so I'll probably just go for 20 pips or more.
  • #464
  • Aug 18, 2016 11:46pm Aug 18, 2016 11:46pm
Quoting Bk8
{quote} Thanks Saranga, I took GN too.. 40 pips profit so far but we may have surprises in the morning.. I do not trust AUD and GBP pair...they always give me surprises in the morning {image}
Just sold usdjpy @ 100.35 SL 100.47 tp, it depends on volatility, although I don't intend to hold for long so I'll probably just go for 20 pips or more.
  • #465
  • Aug 18, 2016 11:50pm Aug 18, 2016 11:50pm
Quoting ohakaba
{quote} Already booked some profit at 3142 am a bit skeptical about this move down, so closed half my lots and left the other half with SL at 3175 and tp 3064
Thats very good exit strategy, I also use sometime
  • #466
  • Aug 18, 2016 11:53pm Aug 18, 2016 11:53pm
Quoting ohakaba
{quote} Just sold usdjpy @ 100.35 SL 100.47 tp, it depends on volatility, although I don't intend to hold for long so I'll probably just go for 20 pips or more.
Sorry wrong thread for this setup to discuss
  • #467
  • Aug 18, 2016 11:54pm Aug 18, 2016 11:54pm
Quoting FX-Flux
I've found it to be more profitable to move to break even once it moves 40pips in your favour {image} {image}
please share your EA
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #468
  • Aug 19, 2016 2:51am Aug 19, 2016 2:51am
Quoting Soros
{quote} please share your EA
Sure, I will post this evening when I get home

Used the script to find yesterdays crosses and took the relevant ones.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-08-19 at 12.04.45.png Size: 246 KB
So many in the Commercial section want to make me rich! :o
  • #469
  • Aug 19, 2016 6:05am Aug 19, 2016 6:05am
Quoting Bk8
Just FYI - This week I earned 800 pips, currently I have open positions for 240 pips profit and 45 pips loss still on
Omg!!! Very profitable
  • #470
  • Aug 19, 2016 7:45am Aug 19, 2016 7:45am
Quoting Bk8
{quote} Thats very good exit strategy, I also use sometime
Its quit a beneficial way of entry,that way I can mange my trades better.already booked a 100 pips on my gubusd entry.And I feel the gbpusd still has more downside move to go.
  • #471
  • Aug 19, 2016 9:43am Aug 19, 2016 9:43am
Quoting FX-Flux
{quote} Sure, I will post this evening when I get home Used the script to find yesterdays crosses and took the relevant ones. {image}
Thanks, will be on standby
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #472
  • Aug 19, 2016 10:43am Aug 19, 2016 10:43am
Quoting Bk8
{quote} Thats very good exit strategy, I also use sometime
Its quit a beneficial way of entry,that way I can mange my trades better.already booked a 100 pips on my gubusd entry.And I feel the gbpusd still has more downside move to go.
  • #473
  • Aug 19, 2016 1:09pm Aug 19, 2016 1:09pm
Quoting FX-Flux
I've found it to be more profitable to move to break even once it moves 40pips in your favour {image} {image}
Wow, surprised at the low win rate, but I am guessing that the test didn't count the break even trades as winners.
  • #474
  • Edited 12:07pm Aug 20, 2016 3:22am | Edited 12:07pm
Here is the EA

CandleSize = how large the candle crossing the MA should be
StopLoss = how far must the trade go in your favour before moving to break even
Num = number of candles that must have closed below or above the MA crossing
TrailingStop = ...
MaTrendPeriod = moving average period
TF = time frame that you are testing. this is so you can test in the strategy tester with 1M bars and still get fairly accurate results but faster
Lots = Lots to be traded

please feedback your findings. I'm not sure if I would actually use this EA for live trading. Just to test the idea
Attached File(s)
File Type: ex4 Morning Glory.ex4   16 KB | 667 downloads
So many in the Commercial section want to make me rich! :o
  • #475
  • Aug 20, 2016 2:00pm Aug 20, 2016 2:00pm
Quoting FX-Flux
Here is the EA CandleSize = how large the candle crossing the MA should be StopLoss = how far must the trade go in your favour before moving to break even Num = number of candles that must have closed below or above the MA crossing TrailingStop = ... MaTrendPeriod = moving average period TF = time frame that you are testing. this is so you can test in the strategy tester with 1M bars and still get fairly accurate results but faster Lots = Lots to be traded please feedback your findings. I'm not sure if I would actually use this EA for live trading....
There is no stop loss only we can set to break even?
  • #476
  • Edited 3:06pm Aug 20, 2016 2:42pm | Edited 3:06pm
Quoting ficibald
{quote} There is no stop loss only we can set to break even?
Stop loss is the low/high of the candle before the cross. The strategy in this thread defines an arbitrary stop loss based on the pervious candles
So many in the Commercial section want to make me rich! :o
  • #477
  • Edited 5:02pm Aug 20, 2016 2:42pm | Edited 5:02pm
Hey Bk8,

Couple questions:

1- Do you ever re-enter a 2nd or 3rd time when price retraces back to the SMA and then bounces off or moves back in the original direction with price action? Like you do a buy entry, price moves say 100 pips and then pulls back 50 pips to bounce off the SMA and continues in the original buy direction. Would you consider that a valid re-entry since price closed above the SMA?

2- For Targets and SL's, besides 15 pips above or below the last candle and TP's at the outside BB, do you ever look left at previous swing highs and lows and breakout zones where big moves were previously made? Or mark weekly S/R levels or do you strictly trade naked charts using just the BB's as your TP's? Seems like those would also provide good realistic TP areas alongside the outside BB's.

See attachment. Entries would be the red circles, SL's are the purple lines and TP is the blue line at bottom.

Thanks and BTW, this is a great simple system.
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpeg Size: 140 KB
  • #478
  • Aug 20, 2016 10:01pm Aug 20, 2016 10:01pm
Quoting marinecorps
Hey Bk8, Couple questions: 1- Do you ever re-enter a 2nd or 3rd time when price retraces back to the SMA and then bounces off or moves back in the original direction with price action? Like you do a buy entry, price moves say 100 pips and then pulls back 50 pips to bounce off the SMA and continues in the original buy direction. Would you consider that a valid re-entry since price closed above the SMA? 2- For Targets and SL's, besides 15 pips above or below the last candle and TP's at the outside BB, do you ever look left at previous swing highs...
Thanks marincorps!

1. Normally I do not recommend re-enter since it would make strategy little complicated that would be hard to follow on a longer term.
2. 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

If setup is moving in the desired direction, then best approach would be to keep shifting SL every day,
also you may take 2 positions for the same setup 1. TP equal to stop loss of the first position and 2. open TP for second position
  • #479
  • Aug 21, 2016 11:16am Aug 21, 2016 11:16am
Very interesting thread! All the best!
  • #480
  • Aug 21, 2016 2:14pm Aug 21, 2016 2:14pm
Quoting limzy
Very interesting thread! All the best!
Thanks limzy!
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