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Monthly Profit - Daily Trading using SMA

  • #821
  • Aug 30, 2016 5:14am Aug 30, 2016 5:14am
Quoting fxenthusiast
{quote} May I know why you closed the GU trade, I see there's no obstacle towards south....
Long wick brings uncertainty and since I was still green so closed GU and took better clean setups.
GU is doing better today so you may hold it.
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  • #822
  • Aug 30, 2016 5:16am Aug 30, 2016 5:16am
Quoting FX-Flux
{quote} Mine is still open :o
Great, you are fine now.. good luck!
  • #823
  • Aug 30, 2016 5:18am Aug 30, 2016 5:18am
Quoting fxenthusiast
{quote} I observed the setting for SMA was changed.
Yep.. 5,3 to 5,0
  • #824
  • Aug 30, 2016 5:21am Aug 30, 2016 5:21am
Quoting Bk8
UJ is moving in right direction too {image}
UJ recovered today
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  • #825
  • Aug 30, 2016 5:24am Aug 30, 2016 5:24am
Pattern is like some music intruments
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  • #826
  • Aug 30, 2016 5:33am Aug 30, 2016 5:33am
Quoting FX-Flux
{quote} Mine is still open :o
Mine too dont see reason to close
  • #827
  • Aug 30, 2016 6:08am Aug 30, 2016 6:08am
Quoting Bk8
{quote} Great, you are fine now.. good luck!
I'm in short at the moment, thinking of closing if it keeps hovering around this price
So many in the Commercial section want to make me rich! :o
  • #828
  • Aug 30, 2016 6:15am Aug 30, 2016 6:15am
Quoting Bk8
{quote} UJ recovered today {image}
Glad to see
  • #829
  • Aug 30, 2016 6:54am Aug 30, 2016 6:54am
I found it annoying when you have to search through the Marketwatch for every pair the script says was a crossing and open each chart to check, so ive I've made it so it will open up all the charts of interest when you run the script. I will upload it to the thread later.
So many in the Commercial section want to make me rich! :o
  • #830
  • Aug 30, 2016 7:41am Aug 30, 2016 7:41am
Quoting FX-Flux
I found it annoying when you have to search through the Marketwatch for every pair the script says was a crossing and open each chart to check, so ive I've made it so it will open up all the charts of interest when you run the script. I will upload it to the thread later.
That's great. I was looking for something like this.
  • #831
  • Aug 30, 2016 7:43am Aug 30, 2016 7:43am
Hi BK8,
Rule 5. Avoid sideways

how do you know when the markets going sideways??

thanks
soso
  • #832
  • Aug 30, 2016 8:18am Aug 30, 2016 8:18am
Quoting sosofab
Hi BK8, Rule 5. Avoid sideways how do you know when the markets going sideways?? thanks soso
you can see it be previous candles,its simple,I avoid trades when candle cross 5 sma but dont go lower or higher by previous candle
  • #833
  • Aug 30, 2016 8:43am Aug 30, 2016 8:43am
Any guess for U/CHF, will it cross 0.9848?
Profit 200 pips so far I hope it should not reverse today..
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  • #834
  • Aug 30, 2016 8:47am Aug 30, 2016 8:47am
You can consider adding a 20MA on higher timeframe as filter to trade in the direction of trend
  • #835
  • Aug 30, 2016 9:14am Aug 30, 2016 9:14am
Quoting uaehawx
{quote} audusd will hit stop coz will go up
You should be happy now since AUDUSD came back to right direction
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  • #836
  • Aug 30, 2016 9:16am Aug 30, 2016 9:16am
Quoting Trendtradr83
You can consider adding a 20MA on higher timeframe as filter to trade in the direction of trend
Appreciate your feedback but I would suggest you to experiment it at your end and then share your results with some stats
  • #837
  • Aug 30, 2016 9:17am Aug 30, 2016 9:17am
Thanks Bk8 for sharing the strategy.
Clear & simple.

EURJPY

GBPCHF
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  • #838
  • Aug 30, 2016 9:21am Aug 30, 2016 9:21am
Quoting uaehawx
USDCAD {image}
Hi Uaehawx,

I hope you did not mind dean's post. Lets stick to simple rules... Dean is a very experinced trader he knows very well that RSI, MACD, Stochastic etc do not help much. Please see below
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  • #839
  • Aug 30, 2016 9:22am Aug 30, 2016 9:22am
Quoting Trendtradr83
You can consider adding a 20MA on higher timeframe as filter to trade in the direction of trend
No no no, counter trading the day chart is one of the most proftiable styles there is, I should know, over 70% of my winning trader are counter trading the daily, why? you ask. Simply becasue counter trends on the daily last ALOT longer than those on the 1 hour, still giving you time to move to breakeven and profit eventually BUT, that 1 time you catch the top or bottom, then well, you will do what I did, and bugger off to vegas for 2 months!!!!! and still have leftovers after. haha. Counter trading smaller timeframes is dangerous, whipsaws small retraces etc get you caught, but daily is very lucrative, small profit, small profit, then bang, steam train runner, ride ride ride.
  • #840
  • Aug 30, 2016 9:38am Aug 30, 2016 9:38am
To me, trading in the direction of trend just increases the probability of trade. If you say counter trend trading on daily last longer, the trend trading will last even longer.
The GBP pairs here are all obviously down trend now. Are you trading in the direction or against it?

Anyway these are are just my own opinions
Quoting deankenny21
{quote} No no no, counter trading the day chart is one of the most proftiable styles there is, I should know, over 70% of my winning trader are counter trading the daily, why? you ask. Simply becasue counter trends on the daily last ALOT longer than those on the 1 hour, still giving you time to move to breakeven and profit eventually BUT, that 1 time you catch the top or bottom, then well, you will do what I did, and bugger off to vegas for 2 months!!!!! and still have leftovers after. haha. Counter trading smaller timeframes is dangerous, whipsaws...
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