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Monthly Profit - Daily Trading using SMA

  • #601
  • Aug 25, 2016 2:46am Aug 25, 2016 2:46am
Quoting keziahpie
Is cadchf a good set up?
it looks good but i didn't enter yet, waiting for some nice point to jump in ...
  • #602
  • Aug 25, 2016 2:59am Aug 25, 2016 2:59am
Quoting ranger_lp
{quote} Yes we want to trade after cross of the sma but we want to make sure that the entry point is not a candle touching the 5SMA line. If the trade returns to the 5SMA line, then we start "considering" ending the trade as a possiblity. The OP wants to "verify" the trend by making sure that the price doesn't return to the 5SMA line criteria. When we "verify" the trade, we improve our odds on winning the trade but sacrificing some pips as Bk8 eluded to. Hope I answered that right.....
So you dont use market orders? YOu use buy and and sell stops? If market goes further in the rigth direction? If yes, How many pips? If not: how you deside when its time to jump in?

Thank you very much
  • #603
  • Aug 25, 2016 3:51am Aug 25, 2016 3:51am
Quoting kleybenny
{quote} Hi Bk, at first: Thank you for this system! One question: How do you handle such szenarios: {image} Would you take all 4 trades? If not, why? Thank you very much
If you use the script I posted it would identified the first trade as a buy signal but ignored the others as it didn't have the correct candle pattern for a setup

Quoting ludo willems
{quote} Forget this reply, found it out myself!
Yes you have to use the Experts Tab at the bottom, sorry I didn't see your message. Also, don't forget to right click your Market Watch, select Symbols, and then Show any missing pairs you have in your market watch (they are usually grayed out), as the script only processes symbols that you see in the market watch panel.

Cheers
So many in the Commercial section want to make me rich! :o
  • #604
  • Aug 25, 2016 4:26am Aug 25, 2016 4:26am
Thinking to jump in EU and UChf
  • #605
  • Aug 25, 2016 5:05am Aug 25, 2016 5:05am
Quoting FX-Flux
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. {file} {file} {file} {image}

Hi FX-Flux, thanks for the scripts and Bk8 for the method.

I am having issues with your scripts though. They have the grey dot on them in the list. I have tried to open them with the editor but it does not recognise them. Any help getting these to work would be gratefully received.

Thanks.

Just to clarify, the journal says that it is loaded but is getting removed immediately with no mention of any crosses.
  • #606
  • Aug 25, 2016 5:14am Aug 25, 2016 5:14am
Quoting Kubez
{quote} Hi FX-Flux, thanks for the scripts and Bk8 for the method. I am having issues with your scripts though. They have the grey dot on them in the list. I have tried to open them with the editor but it does not recognise them. Any help getting these to work would be gratefully received. Thanks. Just to clarify, the journal says that it is loaded but is getting removed immediately with no mention of any crosses.
You drag the script onto a chart and then check the experts tab to see the results. The grey dot is there because I provided the compiled version, it doesn't need editing.
So many in the Commercial section want to make me rich! :o
  • #607
  • Aug 25, 2016 8:30am Aug 25, 2016 8:30am
Quoting Bk8
{quote} 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
I might not explained myself correct. I am using your method exactly as you mentioned it SMA 5,3. But i keep on the same chart SMA200 to give me the general direct of the pair. So if it is going down and price crossed SMA5,3 downwards. Then it good sell momentum because it is in the same direction of SMA200. If not then i don't place the order. Thanks
  • #608
  • Aug 25, 2016 8:32am Aug 25, 2016 8:32am
Quoting FX-Flux
{quote} You drag the script onto a chart and then check the experts tab to see the results. The grey dot is there because I provided the compiled version, it doesn't need editing.

Thanks man, I did not look in the experts tab. Thanks again.
  • #609
  • Aug 25, 2016 8:44am Aug 25, 2016 8:44am
Quoting Tams
{quote} I might not explained myself correct. I am using your method exactly as you mentioned it SMA 5,3. But i keep on the same chart SMA200 to give me the general direct of the pair. So if it is going down and price crossed SMA5,3 downwards. Then it good sell momentum because it is in the same direction of SMA200. If not then i don't place the order. Thanks
Nice, might try that.
So many in the Commercial section want to make me rich! :o
  • #610
  • Aug 25, 2016 10:15am Aug 25, 2016 10:15am
Hello Bk8

Now my time is 16:11 pm.
I am just wondering when the best time (my time) for me is to see the signals needed.
Is my question not understandable, then it is ok.

(Please bare with me. We junior members are on delay, as it has to be confirmed first by Forex Factory IT adm. So it will not be 16:11 pm when it shows up on the tread)

Thank you

Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #611
  • Edited 1:11pm Aug 25, 2016 10:40am | Edited 1:11pm
Quoting FX-Flux
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. {file} {file} {file} {image}
Here is the latest version of the script. It spots every crossover(i think)
Attached File(s)
File Type: ex4 DailyCross_V2.ex4   9 KB | 639 downloads
So many in the Commercial section want to make me rich! :o
  • #612
  • Aug 25, 2016 11:23am Aug 25, 2016 11:23am
Bk8 did u manage to open any trade today?
if yes then which one ?
  • #613
  • Aug 25, 2016 4:24pm Aug 25, 2016 4:24pm
Quoting shaan295
Bk8 did u manage to open any trade today? if yes then which one ?
No shaan, I did not find any.. also I have so many positions still open for last few days
  • #614
  • Aug 25, 2016 5:11pm Aug 25, 2016 5:11pm
Quoting Oddbjorg
Hello Bk8 Now my time is 16:11 pm. I am just wondering when the best time (my time) for me is to see the signals needed. Is my question not understandable, then it is ok. (Please bare with me. We junior members are on delay, as it has to be confirmed first by Forex Factory IT adm. So it will not be 16:11 pm when it shows up on the tread) Thank you Oddbj.
Hi Oddbjorg, Please check your D1 chart and see when new candles starts.
  • #615
  • Aug 25, 2016 5:13pm Aug 25, 2016 5:13pm
Quoting Tams
{quote} I might not explained myself correct. I am using your method exactly as you mentioned it SMA 5,3. But i keep on the same chart SMA200 to give me the general direct of the pair. So if it is going down and price crossed SMA5,3 downwards. Then it good sell momentum because it is in the same direction of SMA200. If not then i don't place the order. Thanks
Oh ok, thats a good point.. we shoudld certainly keep trying new ways to improve this startegy as much we can
  • #616
  • Aug 25, 2016 7:50pm Aug 25, 2016 7:50pm
Hey Bk8, I am trying to find a suitable strategy to make 500 or so pips a month with some consistency. How many trades would you say you average a week? And how long do you usually hold your trades for??
Gentlemen always play by the rules, if they can't, they change them.
  • #617
  • Aug 25, 2016 7:59pm Aug 25, 2016 7:59pm
Quoting Bk8
{quote} Thanks Shaun for your feedback! I hope you understand that if USD is weak, both setups may fail so techically both are kind of same setups
So in saying this. I should only take 1 or the other? Taking the same direction can lead to 2 losing trades?

As it happens, both trades stopped out, but I only put my stop at the 50 Fib of the entry candle. Not a good move. I will go back to placing the stop below the entry candle.
It actually hit the 23.6 fib and then went int he right direction.

I will continue using demo account until I get my head around it all.
  • #618
  • Aug 25, 2016 9:02pm Aug 25, 2016 9:02pm
Quoting Bsmile44
Hey Bk8, I am trying to find a suitable strategy to make 500 or so pips a month with some consistency. How many trades would you say you average a week? And how long do you usually hold your trades for??
It depends Bsmile e.g. GBP pair can give you 100-200 pips in one day! if you have control and take 100% setups only you may easily make 800 pips per month.
  • #619
  • Aug 25, 2016 9:20pm Aug 25, 2016 9:20pm
Quoting Bk8
{quote} It depends Bsmile e.g. GBP pair can give you 100-200 pips in one day! if you have control and take 100% setups only you may easily make 800 pips per month.
Awesome I will test this out in a demo account. I love the simplicity of this system. I've only read your first few pages of this forum but has anything with the strategy changed since your first post?

thanks for the quick reply btw!
Gentlemen always play by the rules, if they can't, they change them.
  • #620
  • Aug 25, 2016 10:02pm Aug 25, 2016 10:02pm
Quoting Bsmile44
{quote} Awesome I will test this out in a demo account. I love the simplicity of this system. I've only read your first few pages of this forum but has anything with the strategy changed since your first post? thanks for the quick reply btw!
Thanks Bsmile! There is no change.. you may stick to first post. @FX-Flux has created some scripts for automation though, you may try if you prefer automation.
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