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Monthly Profit - Daily Trading using SMA

  • #1,521
  • Sep 8, 2016 4:40am Sep 8, 2016 4:40am
Quoting martyhype
{quote} Just checking was your AJ a buy? I had it as a sell see attached chart. Mine is about to be stopped out. Considering closing it not sure yet. {image}
Sorry abt that, it was a sell....that's what happens when you post 5 mins after waking up....lol
  • #1,522
  • Sep 8, 2016 4:43am Sep 8, 2016 4:43am
Quoting nozzer
bad luck on the aud/jpy it looked like a sell for sure :-[
Yeah it did seem good, but never mind they cant all win as we know. I think there was some news for aussie this morning.
I still have GBPAUD, EURJPY and EURGBP in the green.
It's not about how much you make, it's about how much you don't lose
  • #1,523
  • Sep 8, 2016 4:56am Sep 8, 2016 4:56am
I can never decide weather to follow news items or not,what do senior traders out there think on news items?
  • #1,524
  • Sep 8, 2016 5:08am Sep 8, 2016 5:08am
Hi bk8 look this false signal on 5,0
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  • #1,525
  • Sep 8, 2016 5:12am Sep 8, 2016 5:12am
Quoting jelloooo1
Hi bk8 look this false signal on 5,0 {image}
Why you have 2 lines? we will not take positions in either case.. due to sedeways
  • #1,526
  • Sep 8, 2016 5:13am Sep 8, 2016 5:13am
EG is slow but in right direction
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  • #1,527
  • Sep 8, 2016 5:15am Sep 8, 2016 5:15am
Same with G/CHF so both setups as we predicited yesterday are doing ok
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  • #1,528
  • Sep 8, 2016 5:17am Sep 8, 2016 5:17am
I think you must be happy with EU now

Quoting yonnie
{quote} noticed before that your G/J trade was not taken according to Bk8`s system, so maybe you should not mention it here? @Bk8: had another look at E/U and you`re right; it was quite a lousy set-up. thank you for that. imo the 80% set-ups are the ones with a nice run-up with at least 5 candles, pause for 1-2 days at the top (optional) and head straight back down. bingo...............
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  • #1,529
  • Sep 8, 2016 5:19am Sep 8, 2016 5:19am
Quoting nozzer
I can never decide weather to follow news items or not,what do senior traders out there think on news items?
Thats correct, we should stick to charts only.
  • #1,530
  • Sep 8, 2016 5:21am Sep 8, 2016 5:21am
EA is doing great
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  • #1,531
  • Sep 8, 2016 5:22am Sep 8, 2016 5:22am
Quoting martyhype
{quote} Just checking was your AJ a buy? I had it as a sell see attached chart. Mine is about to be stopped out. Considering closing it not sure yet. {image}
Hi Marty Hype,
May I make a comment about this AJ trade and I am interested in what other people think. I didn't like it for 2 reasons one it was being sold right on to a major number and two the signal candle had a large pullback wick on it.
  • #1,532
  • Sep 8, 2016 5:23am Sep 8, 2016 5:23am
EG is speeding now
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  • #1,533
  • Sep 8, 2016 5:23am Sep 8, 2016 5:23am
Quoting Bk8
{quote} Why you have 2 lines? we will not take positions in either case.. due to sedeways
How are you defining sideways? At the close of yesterdays candle this looked like a valid setup to me.
  • #1,534
  • Sep 8, 2016 5:28am Sep 8, 2016 5:28am
Quoting temporal
{quote} How are you defining sideways? At the close of yesterdays candle this looked like a valid setup to me.
Ok Chart from my differnt brokers confuse me sometime. Just saw 5 pm candle from yesterday.. setup was ok but it had huge wick that makes setup unstable...but if we do not have perfect setups we may take risk here.. chances 70%
  • #1,535
  • Sep 8, 2016 5:35am Sep 8, 2016 5:35am
thanks for the heads up Bk8,i always forget about the long wicks, long wicks ,no trade !
  • #1,536
  • Sep 8, 2016 6:30am Sep 8, 2016 6:30am
Team,

It seems that we do not like to lose profit even a single candle, I will update the first post today on TP strategy.
  • #1,537
  • Sep 8, 2016 6:40am Sep 8, 2016 6:40am
my take on this is i run micro lots and try not to risk more than 10% as suggested. usually i would open 4-5 pairs or more depend on the market and adjust my lot size accordingly, then do a basket tp when my daily tp percentage reached.
  • #1,538
  • Sep 8, 2016 6:42am Sep 8, 2016 6:42am
You may wipe off your account this way.. trust me

Quoting callmejack
my take on this is i run micro lots and try not to risk more than 10% as suggested. usually i would open 4-5 pairs or more depend on the market and adjust my lot size accordingly, then do a basket tp when my daily tp percentage reached.
  • #1,539
  • Sep 8, 2016 6:44am Sep 8, 2016 6:44am
Bk8,

Thanks for this simple strategy it works well!
Can you please give some more explanation about?
"Entry - When previous candle bar has clearly crossed SMA line"
candle closed above or under SMA line?
candle low is above or under SMA line?
percentage candle higher above or under SMA line?

Thanks in advance.
  • #1,540
  • Sep 8, 2016 6:45am Sep 8, 2016 6:45am
Thank you everyone for supporting this thread, so proud of all contributers
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