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Monthly Profit - Daily Trading using SMA

  • #1,041
  • Sep 1, 2016 8:08pm Sep 1, 2016 8:08pm
Quoting Sandeens22
Ok so I am new like others. SO MAYBE CAN SOMEBODY JUST SHOW ON PICTURES WHATS EXATCLY IS SIDEWAYS??? There are much who don't understand English very well like me. Thank YOU
@sandeens see the picture.

The green check mark shows good trending price moving up and down.

The red X shows sideways where price is stuck moving in a small range and is not breaking out.
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  • #1,042
  • Sep 1, 2016 8:12pm Sep 1, 2016 8:12pm
Quoting Mmfx15
Hi Bk8, I follow your thread for 2 weeks. Now I found a light in my trading after I has struggled with this market for 3 years. Thanks a lot, Bk8
Welcome Mmfx, Thanks very much for your feedback!
  • #1,043
  • Sep 1, 2016 8:14pm Sep 1, 2016 8:14pm
Quoting Alamhakim
{quote} Hello BK8, is this trade ok, when would you consider to move the trade to breakeven? I still do not fully understand the stop loss movement. Very kind of you to share this system. {image}
Yes Alam, this setup looks good to me. Please read previous posts or give me specific example I will explain you about breakeven.
  • #1,044
  • Sep 1, 2016 8:16pm Sep 1, 2016 8:16pm
Quoting laikos
{quote} Myself hit SL on GU short trade -197pips
You must be using some other system. Please be consistent whatever you choose.
  • #1,045
  • Sep 1, 2016 8:17pm Sep 1, 2016 8:17pm
Quoting lazyegg
{quote} Hi BK8, thank you for sharing your system. I did make the same trade as you do for longing the GU by profiting 106 pips, I get out early because it was too close the BB upper line. but when i look back at the 4H chart, the candle already break the upper BB line, should I take a look at the 4H chart next time? if it break, leave it and let it run?
Just use Daily chart please, forget 1H, 4H please
  • #1,046
  • Sep 1, 2016 8:23pm Sep 1, 2016 8:23pm
Quoting shaan295
{quote} Bk8 can explain u in a better way, but if u ask me abt this trade then i will say I didn't take this short trade, yes it was nice down move last week yes SMA crossed day candle as well, now u would ask me why I didn't take this trade, the reason not taking this trade was BB indicator middle line was so close, i was waiting if 4hour candle close down BB middle line but it didn't happen then today we get long opportunity.... That was my view ... BK8 ur comment please.
Lets follow our simple rules..
1.D1 chart only
2. No sideways..you may use SR strategy to exclude sideways
3. Keep moving SL daily

We should not take position even setup is 1 day late after SMA cross, exception is that if previous candle does not cross then you may wait for the next candle.
  • #1,047
  • Sep 1, 2016 8:25pm Sep 1, 2016 8:25pm
Quoting Karemi-Trade
I'm long on EUR/USD. Perhaps SMA200 will give support on the downside. The pair ist rather stuck in a range and not really going anywhere lately, but RRR seems acceptable.
Just Follow SMA 5,0 please..
  • #1,048
  • Sep 1, 2016 8:28pm Sep 1, 2016 8:28pm
Time to sell USDCHF?

Do you pay attention to major news events. Tomorrow is NFP for the United States and might drive the USDCHF down.
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  • #1,049
  • Sep 1, 2016 8:37pm Sep 1, 2016 8:37pm
Quoting IrishTrader
Time to sell USDCHF? Do you pay attention to major news events. Tomorrow is NFP for the United States and might drive the USDCHF down. {image}
Thats correct, Lets ignore US Pairs..
  • #1,050
  • Sep 1, 2016 9:00pm Sep 1, 2016 9:00pm
Hi Bk8
Looking at Irishtraders chart above it appears a little different to mine, on his chart price has already broken through the 5 Ma, Checking it I see that he is using 5ma simple without the 3 Shift. What must it be Shift or no Shift.
Thanks.
  • #1,051
  • Sep 1, 2016 9:15pm Sep 1, 2016 9:15pm
Quoting johnvr
Hi Bk8 Looking at Irishtraders chart above it appears a little different to mine, on his chart price has already broken through the 5 Ma, Checking it I see that he is using 5ma simple without the 3 Shift. What must it be Shift or no Shift. Thanks.
Please read this post http://www.forexfactory.com/showthre...29#post9105029
  • #1,052
  • Sep 1, 2016 9:24pm Sep 1, 2016 9:24pm
Ok, thanks.
  • #1,053
  • Sep 1, 2016 11:53pm Sep 1, 2016 11:53pm
My new trades this morning :
Long AUDCAD
Short CADCHF
Pending Buy Stop above BB middle line AUDCHF
  • #1,054
  • Sep 1, 2016 11:54pm Sep 1, 2016 11:54pm
Quoting Bestof27
My new trades this morning : Long AUDCAD Short CADCHF Pending Buy Stop above BB middle line AUDCHF
Please do not mix BB middle line. It will exclude so many setups.
  • #1,055
  • Sep 1, 2016 11:59pm Sep 1, 2016 11:59pm
Quoting Bk8
{quote} Please do not mix BB middle line. It will exclude so many setups.
Just because in this case prices are running near BB middle line that seems to act as resistance....
  • #1,056
  • Sep 2, 2016 12:01am Sep 2, 2016 12:01am
Quoting Bk8
{quote} You must be using some other system. Please be consistent whatever you choose.
it was look like good entry for short back then
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  • #1,057
  • Sep 2, 2016 1:01am Sep 2, 2016 1:01am
Quoting Bestof27
My new trades this morning : Long AUDCAD Short CADCHF Pending Buy Stop above BB middle line AUDCHF
so you are basically shorting CAD twice.

Are correlations an issue, @Bk8?

As far as news are concerned, I think it's always a 50/50 bet, so I just ignore them. The outcome of a single trade doesn't matter anyway.
  • #1,058
  • Sep 2, 2016 2:03am Sep 2, 2016 2:03am
Quoting laikos
{quote} it was look like good entry for short back then {image}
Are you still using SMA (5,3)?
  • #1,059
  • Sep 2, 2016 2:39am Sep 2, 2016 2:39am
Hello Fx Flux

Pls do you have a template that uses SMA 5,0 as against 5,3?
  • #1,060
  • Sep 2, 2016 3:01am Sep 2, 2016 3:01am
just closed my U/J trade ahead of the big news for 317 pips profit.

a fine example of following Bk8`s advice to let the profits run amok

if you`re afraid of losses and place the stop too close, you will NOT succeed in the longer term.
just put on a smaller position, so you can sleep at night.
after all this is just a learning period at the moment - not to make heaps of money.

just my opinion and good luck to all.
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