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Monthly Profit - Daily Trading using SMA

  • #721
  • Aug 28, 2016 11:29am Aug 28, 2016 11:29am
Hello Bk8 or someone who would take the time.
Can I ask if this is a good set up - gbusd short audjpy long
Or is it now I shall wait untill the new monday candle takes its start?

thank you
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #722
  • Aug 28, 2016 11:43am Aug 28, 2016 11:43am
Quoting Oddbjorg
Hello Bk8 or someone who would take the time. Can I ask if this is a good set up - gbusd short audjpy long Or is it now I shall wait untill the new monday candle takes its start? thank you Oddbj.
Let GU cross resistance level, we can place pending order for GU as 1.3117
AJ is little late and rejected at resistance level so lets place a pending order at 77.28
Sorry to make little complicated this week.
  • #723
  • Aug 28, 2016 11:50am Aug 28, 2016 11:50am
Quoting Ipodbob
{quote} If 5,3 and 5,0 would only take 15 minutes each why do we not run two demos in parallel for a month and see the results, you could even have two seperate charts up at the same time next to each other and so the extra time checking charts is minimal. I think I will run both in demo starting this week and see what happens although I am working nights which will mess my trade opening times up. Quick question though is it best to check the charts upon a new candle formation at 23:00 BST in my world or does it matter if I do it at 7:00am instead?...
I am trapped now I have been coding since last night to test the both settings*, my wife and kids are almost trying to throw away my laptop
  • #724
  • Aug 28, 2016 12:47pm Aug 28, 2016 12:47pm
Quoting Bk8
{quote} I am trapped now I have been coding since last night to test the both settings*, my wife and kids are almost trying to throw away my laptop
Hahaha
best of luck 👍👍👍
  • #725
  • Aug 28, 2016 1:16pm Aug 28, 2016 1:16pm
Quoting isaacyip007
@Bk8 why would you suddenly change your system?Is there any underlying circumstances that you noticed?This is because the system is working well and I read over 30+ pages of this thread and gathered so much info and positive thoughts.
Hi isaacyip007,
System is still same, just changed the shift from 3 to 0 I have reviewed old charts manually and using script so you can trust me..
  • #726
  • Aug 28, 2016 1:55pm Aug 28, 2016 1:55pm
Hello BK8. Prompt what currency pairs you trade on this system?
  • #727
  • Aug 28, 2016 2:04pm Aug 28, 2016 2:04pm
Quoting Bk8
{quote} Let GU cross resistance level, we can place pending order for GU as 1.3117 AJ is little late and rejected at resistance level so lets place a pending order at 77.28 Sorry to make little complicated this week.
I think I understand. Thanks a lot Bk8
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #728
  • Aug 28, 2016 3:58pm Aug 28, 2016 3:58pm
Quoting Bk8
{quote} Hi isaacyip007, System is still same, just changed the shift from 3 to 0 I have reviewed old charts manually and using script so you can trust me..
I am with 5 shift 0,start week with GU on real accaunt, it will bee cool
  • #729
  • Aug 28, 2016 4:10pm Aug 28, 2016 4:10pm
Quoting Bk8
{quote} I am trapped now I have been coding since last night to test the both settings*, my wife and kids are almost trying to throw away my laptop
Ohh hahaha I wish I could code I really should get into coding more since I am interested in forex, baby steps though baby steps

I am going to open up two demo £1000 and test both 5,0 and 5,3 to see the difference on daily charts.
  • #730
  • Aug 28, 2016 4:14pm Aug 28, 2016 4:14pm
i still not really understand about the TP and SL...
  • #731
  • Edited 4:39pm Aug 28, 2016 4:29pm | Edited 4:39pm
I have some thoughts about multiple entries of various currencies with the same underlying currency on different days........

somebody mentioned selling G/U today.....
I already have several trades going with USD as the common currency from 2 days ago, U/J and U/CH.
so really why would you enter another trade in USD 2 days late - obviously GBP is not exactly the weakest amongst the currencies.

I`m not saying that JPY and CHF will continue to be weaker than other currencies.
however we`re only in these trades for a couple of days so its more likely to continue.

I suspect to enter those kind of trades 1 day, 2 days etc later will be more prone to failure.
  • #732
  • Aug 28, 2016 5:30pm Aug 28, 2016 5:30pm
Quoting Andrey98
Hello BK8. Prompt what currency pairs you trade on this system?
Hi Andrey98,

I do not have any preferences as such, I like to trade all currencies.
  • #733
  • Aug 28, 2016 5:35pm Aug 28, 2016 5:35pm
Quoting EnzoTeen
i still not really understand about the TP and SL...
Welcome EnzoTeen,

Let me try again

1. Short Position

  1. SL - High of previous candle
  2. TP - Day 1 - None, Day 2 - If you are wining...set TP to high of previous candle and keep moving everyday until SL is triggered.

2. Long Position

  1. SL - Low of previous candle
  2. TP - Day 1 - None, Day 2 - If you are wining...set TP to Low of previous candle and keep moving everyday until SL is triggered.

  • #734
  • Aug 28, 2016 5:42pm Aug 28, 2016 5:42pm
I'm in on GU with a sell limit at 1.3130. SL 15 pips above high of Friday's bar and TP is 1.2900 area.
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  • #735
  • Aug 28, 2016 5:53pm Aug 28, 2016 5:53pm
Quoting marinecorps
I'm in on GU with a sell limit at 1.3130. SL 15 pips above high of Friday's bar and TP is 1.2900 area. {image}
That trade is not per BK8's rules.
  • #736
  • Aug 28, 2016 6:19pm Aug 28, 2016 6:19pm
Quoting Bk8
{quote} Let GU cross resistance level, we can place pending order for GU as 1.3117 AJ is little late and rejected at resistance level so lets place a pending order at 77.28 Sorry to make little complicated this week.
hey Bk8, dont see any close resistance levels for G/U and A/J.
could you point them out for me?
thanks
  • #737
  • Aug 28, 2016 6:24pm Aug 28, 2016 6:24pm
Correct. It's not per his rules listed on page 1 so maybe I'm in early per his rules since Friday's candle did not specifically close below the SMA 5 shift 3, but I like the set up and momentum. Also, the Friday candle broke below the SMA 5 shift 0 which would meet his rules.

Quoting deankenny21
{quote} That trade is not per BK8's rules.
  • #738
  • Aug 28, 2016 6:50pm Aug 28, 2016 6:50pm
Quoting Ipodbob
{quote} Ohh hahaha I wish I could code I really should get into coding more since I am interested in forex, baby steps though baby steps I am going to open up two demo 1000 and test both 5,0 and 5,3 to see the difference on daily charts.
Ok, I tested using a simple script for USDJPY for Jan 2016 till Aug 2016.
Although script needs more work e.g. filter sideways, some enhancements for SL etc but I got surprising result when compared SMA 5,0 and SMA 5,3
SMA 5, 3 - Breakevn in 8 months, (however we would be certainly profitable if we trade manually)
SMA 5, 0 - 60% profit (I am sure if I fix script, it will give better result)

Please see screenshots for both scenarios, I have started coding after long time so I am struggling little.. will continue and keep posting results
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  • #739
  • Aug 28, 2016 6:51pm Aug 28, 2016 6:51pm
I sold GU at 1.31189. SL at 1.32970. TP at 1.28900 based on the sma 5 on close shift 0. Like the simplicity, wondering where reams of back testing is.
  • #740
  • Aug 28, 2016 6:56pm Aug 28, 2016 6:56pm
Quoting temporal
I sold GU at 1.31189. SL at 1.32970. TP at 1.28900 based on the sma 5 on close shift 0. Like the simplicity, wondering where reams of back testing is.
Just FYI - I took AU too
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