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Monthly Profit - Daily Trading using SMA

  • #1,141
  • Sep 4, 2016 11:41am Sep 4, 2016 11:41am
Quoting Bk8
Guys, I have been trading for last 2 years, tried almost all known strategies but still lost 90% of my all accounts Finally, I am profitable for last 6 months...but too early to say whether this strategy is sustainable Here is my very simple strategy (chances 80%), need to spend 15 minutes only everyday! D1 trading only... even 4H is not reliable Indicators - SMA (5,0) for entry and Bollinger Bands for exit (optional) - Updated 08/26 (earlier it was SMA 5,3) Entry - When previous candle bar has clearly crossed SMA line Exit - a. trigger stoploss...

i BEEN TRADING PIVOTS AND ROLLING PIVOTS FOR 10 YEARS OUT OF MY 16 YEARS IN TRADING YOU WILL MAKE IT THEY WORK THEY WORK
  • #1,142
  • Sep 4, 2016 1:28pm Sep 4, 2016 1:28pm
Quoting shaan295
{quote} Bk8 these r my pairs for next week , what you say ? AUDCAD NZDCAD EURCHF EURAUD (NOT SURE) USDCAD
I think U/CAd has 80% chances, EuRCHF - 60%
and rest have 50% chances
  • #1,143
  • Sep 4, 2016 1:37pm Sep 4, 2016 1:37pm
Selling USDCAD.
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  • #1,144
  • Edited 4:23pm Sep 4, 2016 3:57pm | Edited 4:23pm
Quoting Bk8
{quote} I think U/CAd has 80% chances, EuRCHF - 60% and rest have 50% chances
agree: U/C was already topping out for 2 days before crashing down.
E/CH only 1 candle in new direction, so could retrace quite easily.
rather see 2 smaller candles in a new direction than 1 big candle.

opening positions in E/C - E/CH - N/C and U/C
C/CH and E/A charts too much sideways stuff.
  • #1,145
  • Sep 4, 2016 4:56pm Sep 4, 2016 4:56pm
Quoting kingdavid15
Eur/Aud looking quite tasty..what do guys think?
Hi. I am just learning. Can I ask something.
Do we not have to wait and see how the new candle is. Is this not to early?
Is it not to close to Bollingerband?
Thank you
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #1,146
  • Sep 4, 2016 6:40pm Sep 4, 2016 6:40pm
Quoting BuffaloPat
Bk8, Thank you for posting such a simple system to follow. Looking at my charts, this appears to viable with pretty much everything as long as it is moving, even exotics. Based on your rules, looks like there were plenty of opportunities to enter at the end of the day Friday after the poor NFP numbers and the rise in oil prices. I love the idea of a simple, set and forget style of trading so that I don't have to sit in front of my computer all day.
Thanks very much for the feedack!
  • #1,147
  • Sep 4, 2016 6:43pm Sep 4, 2016 6:43pm
Hi BK8

Thanks for sharing.

Just took the following to test:

Sell USD/CAD
Sell EUR/CHF
Sell EUR/AUD
Sell NZD/CAD
Buy AUD/USD

Correct me if I am wrong but:
1. Now we use SMA 5 without the 3 in shift to identify trade setup?
2. Exit if we get 3 profitable bars or hit the outer bband in direction of trade (bottom band if short/top band if long)
  • #1,148
  • Sep 4, 2016 7:23pm Sep 4, 2016 7:23pm
Quoting ranger_lp
I have EURGBP +119, NZDJPY +110, EURJPY +102, GBPJPY +329, AUDJPY +76. In late on all of these and all are still open....
Just closed all these out (chickened out is more like it) EURGBP +115, NZDJPY +114, EURJPY +94, GBPJPY +302, AUDJPY +71
  • #1,149
  • Sep 4, 2016 8:34pm Sep 4, 2016 8:34pm
Quoting ranger_lp
{quote} Just closed all these out (chickened out is more like it) EURGBP +115, NZDJPY +114, EURJPY +94, GBPJPY +302, AUDJPY +71
Great, are using same strategy or something else?
  • #1,150
  • Sep 4, 2016 8:40pm Sep 4, 2016 8:40pm
Quoting Bk8
{quote} Great, are using same strategy or something else?
Same Bk8, in demo not live yet......

Right now I'm playing around with line chart instead of candles. Since these positions can go on for days if not a week, sort of makes it less stressful. Only time in 6 years playing around with forex that I thought that a line chart is more applicable maybe with this strategy....
  • #1,151
  • Sep 4, 2016 9:23pm Sep 4, 2016 9:23pm
Hi,
Myself buying
AU
NU
based on SMA(5,0) today

Regards
  • #1,152
  • Sep 4, 2016 9:39pm Sep 4, 2016 9:39pm
GOLD. they think of this pair for this strategy ??
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  • #1,153
  • Sep 4, 2016 9:45pm Sep 4, 2016 9:45pm
Quoting cesar8
GOLD. they think of this pair for this strategy ?? {image}
Looks great!
  • #1,154
  • Sep 4, 2016 9:53pm Sep 4, 2016 9:53pm
Quoting yonnie
{quote} agree: U/C was already topping out for 2 days before crashing down. E/CH only 1 candle in new direction, so could retrace quite easily. rather see 2 smaller candles in a new direction than 1 big candle. opening positions in E/C - E/CH - N/C and U/C C/CH and E/A charts too much sideways stuff.
Thanks yonnie! Good start for USD/CAD, lets hope it does not reverse
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  • #1,155
  • Sep 4, 2016 9:55pm Sep 4, 2016 9:55pm
Quoting laikos
Hi, Myself buying AU NU based on SMA(5,0) today Regards
Wow I missed these
To be honest with you.. we should ignore these setups even if these work in favor of you in some cases

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  • #1,156
  • Sep 4, 2016 9:59pm Sep 4, 2016 9:59pm
Quoting Bk8
{quote} Thanks yonnie! Good start for USD/CAD, lets hope it does not reverse {image}
This one too
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  • #1,157
  • Sep 4, 2016 11:26pm Sep 4, 2016 11:26pm
Quoting Bk8
{quote} Wow I missed these To be honest with you.. we should ignore these setups even if these work in favor of you in some cases {image} {image}
Hi BK8,
you mean they not crossing the MA?
  • #1,158
  • Edited Sep 5, 2016 12:05am Sep 4, 2016 11:51pm | Edited Sep 5, 2016 12:05am
For today I have opened
BUY SGDHKD
SELL USDSGD
SELL EURCAD

Any position opened from last week was closed to avoid NFP report and I was busy with something else.

Settings used = SMA 5,shift 3 (Old system)
I do not open trades on all crossovers on all pairs.I will analyze the chart using simple support and resistance before trading.Plus avoid wicks and sideways as Bk8 mentioned in this thread.Find it and read it.Don't keep on asking the same question for Bk8.You are just making the thread much longer.

Will continue to report back to this thread for any closed/opened trades.
  • #1,159
  • Sep 5, 2016 12:04am Sep 5, 2016 12:04am
Hi BK8
Thanks he he
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  • #1,160
  • Sep 5, 2016 12:58am Sep 5, 2016 12:58am
Quoting laikos
{quote} Hi BK8, you mean they not crossing the MA?
long wicks
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