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Monthly Profit - Daily Trading using SMA

  • #561
  • Aug 24, 2016 8:12am Aug 24, 2016 8:12am
GBP crosses strong this week! And still going. Lots of upside potential!

Quoting Bk8
I love this shape {image}
  • #562
  • Aug 24, 2016 8:39am Aug 24, 2016 8:39am
Bk8 r u still in with USDCAD ?
  • #563
  • Aug 24, 2016 9:08am Aug 24, 2016 9:08am
Quoting shaan295
Bk8 r u still in with USDCAD ?
Yes I am, ideally I should have exit on breakeven..but anyway 20% loss is acceptable to me if red news goes against the setup
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  • #564
  • Aug 24, 2016 10:25am Aug 24, 2016 10:25am
Thanks to bk8 and everyone here. My trades for this week, I would say quite promising.
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  • #565
  • Aug 24, 2016 10:27am Aug 24, 2016 10:27am
Quoting Bk8
{quote} Yes I am, ideally I should have exit on breakeven..but anyway 20% loss is acceptable to me if red news goes against the setup {image}
Looks like I should be lucky if trend continues
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  • #566
  • Aug 24, 2016 10:31am Aug 24, 2016 10:31am
Quoting domdom1984
Thanks to bk8 and everyone here. My trades for this week, I would say quite promising. {image}
Thanks domdom for your feedback!
  • #567
  • Aug 24, 2016 10:35am Aug 24, 2016 10:35am
Quoting Bk8
{quote} Thanks domdom for your feedback!
My entry condition is: check SMA5 crossing, set an pending order with retracement of 61.8%. Log two trades for single pairs.u
SL: previous candle (moving SL everyday) - trade management.
TP: emtpy. (close 1 trade at T+3, leave another trade open, by right your SL should protect your profit already)
  • #568
  • Aug 24, 2016 10:37am Aug 24, 2016 10:37am
Hi BK8, had to comment, as I love seeing the very rare threads trading the daily chart. If you stick with it with good money management and risk, there's no reason it should fail in the long run, yes greed will take over alot here, and they will fail, overtrading etc etc.

What I do encourage BK8 is those that come in here and post up hourly charts, even 4hr, with the same method. Please try and not encourage those that do, anything under daily is controlled by MM (Market makers) full of stop hunts, fake heads etc etc. If you stay with the daily as I have now done for many years since I went part time to full time, you should see much improvement in your trading.

Just my 2 cents, gd luck BK8 and hope this stays alive.
  • #569
  • Aug 24, 2016 10:45am Aug 24, 2016 10:45am
Bk8 these r my opened trades, i opened 2 positions for each pair at same time, one position TP is middle line of BB indicator and when i hit first TP i close my one position and change the SL of other position to BE... At the moment i closed my 1 position of each pair, now my trading is risk free ... Hope u got it what im trying to explain...

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  • #570
  • Aug 24, 2016 11:15am Aug 24, 2016 11:15am
Quoting deankenny21
Hi BK8, had to comment, as I love seeing the very rare threads trading the daily chart. If you stick with it with good money management and risk, there's no reason it should fail in the long run, yes greed will take over alot here, and they will fail, overtrading etc etc. What I do encourage BK8 is those that come in here and post up hourly charts, even 4hr, with the same method. Please try and not encourage those that do, anything under daily is controlled by MM (Market makers) full of stop hunts, fake heads etc etc. If you stay with the daily...
Thanks deankenny21 for your suggestion, we would like to try this strategy for atleast next 6 months without much distractions.. I tried this strategy on 1H and 4H but result was not consistent. We will certainly explore more options in future since all strategies need to be evolved only then it can survive..
  • #571
  • Aug 24, 2016 11:16am Aug 24, 2016 11:16am
Quoting shaan295
Bk8 these r my opened trades, i opened 2 positions for each pair at same time, one position TP is middle line of BB indicator and when i hit first TP i close my one position and change the SL of other position to BE... At the moment i closed my 1 position of each pair, now my trading is risk free ... Hope u got it what im trying to explain... {image}
  • #572
  • Aug 24, 2016 11:19am Aug 24, 2016 11:19am
Hello guys!

Bk8, thank you for sharing this system and keep helping the people here.

I don't have much time on the day, so this system really fits my need. Fast to analyse and keep the orders.

Here are my currently open positions (looks very well):

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  • #573
  • Aug 24, 2016 11:22am Aug 24, 2016 11:22am
Quoting Sandeens22
Hei Bk8, gonna add my mt4 indic, its oky for trading the system like this? Wanted to as to if the positions with is in this picture its oky to enter the trade? Just wondering you have write about sideways I just didn't understand about them, Thank you. {image}
I would ignore these setups, try to visualize triangle like shape. I will post some screenshots if you still have any confusion.
  • #574
  • Aug 24, 2016 11:25am Aug 24, 2016 11:25am
Bk8 it gonna be helpful for newbies like me. And my setup was oky? Thanks a lot
  • #575
  • Aug 24, 2016 11:29am Aug 24, 2016 11:29am
Quoting bzK
Hello guys! Bk8, thank you for sharing this system and keep helping the people here. I don't have much time on the day, so this system really fits my need. Fast to analyse and keep the orders. Here are my currently open positions (looks very well): {image}
Awesome! I love to see positive results like yours.. Thanks very much bzk for your feedback!!

I request all traders who have tried this startegy to share feedback, that will be a great motivation for all of us.
  • #576
  • Aug 24, 2016 11:31am Aug 24, 2016 11:31am
Quoting Sandeens22
Bk8 it gonna be helpful for newbies like me. And my setup was oky? Thanks a lot
Sure, looks like I missed your post again.. Please help me to locate your post. Did you take any position today?
  • #577
  • Aug 24, 2016 11:37am Aug 24, 2016 11:37am
Bk8 no i havent try to open yet just wondering what sma need to cross the candle to open possiton? Maybe can you post with picture? The same didnt underatand about sideways
  • #578
  • Edited 11:59am Aug 24, 2016 11:45am | Edited 11:59am
Quoting Sandeens22
Bk8 no i havent try to open yet just wondering what sma need to cross the candle to open possiton? Maybe can you post with picture? The same didnt underatand about sideways
You may remove BB, if that is creating confusion
Please see below, candle crossed SMA on 22nd Aug and hence we took a long position when previous candle closed and new candle opened.. hope this helps
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  • #579
  • Aug 24, 2016 1:21pm Aug 24, 2016 1:21pm
Thank you Bk8 for sharing this nice system. I have been testing it for three weeks and this week went live and managed to gain 16% this week. I have one question, are you giving weight to SMA200? i am generally reluctant to place orders against the direction of SMA200 but i noticed that this shouldn't always the case where i can still get good results even if i am trading against SMA200 general direction. Appreciate your feedback
  • #580
  • Aug 24, 2016 2:36pm Aug 24, 2016 2:36pm
Quoting Tams
Thank you Bk8 for sharing this nice system. I have been testing it for three weeks and this week went live and managed to gain 16% this week. I have one question, are you giving weight to SMA200? i am generally reluctant to place orders against the direction of SMA200 but i noticed that this shouldn't always the case where i can still get good results even if i am trading against SMA200 general direction. Appreciate your feedback
Thanks Tams! I tried SMA200 but did not find consistent result.. I came up with SMA 5,3 after so many experiments. e.g. earlier I was using BB middle line and stoploss as high/low of previous 2 candle etc however I did not find that strategy consistent either
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