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Monthly Profit - Daily Trading using SMA

  • #1,661
  • Sep 8, 2016 7:40pm Sep 8, 2016 7:40pm
Quoting Shaun24
My Current open trades. 
 Today's Opens EURCHF Buy - -2.40 - $0.32 GBPUSD Sell - -9.10 - $1.19 USDCHF Buy - -6.90 - $0.93 EURNZD Buy- - 5.10 - $0.49 
 Running GBPJPY Sell - -36.80 - $4.77 GBPCHF Sell - 3.40 - $0.35 EURGBP Buy - 42.20 - $7.29 GBPAUD Sell - 89.30 - $9.09 EURUSD Buy - 9.30 - $0.89 
 Closed this week NZDJPY Sell -25.6 $3.63 -1.74% CHFJPY Sell -21.6 $2.71 -1.28% EURJPY Sell 21.8 $2.78 1.33% GBPNZD Sell 217.6 $21.36 11.41% USDCAD Sell 96.3 $9.69 5.46% GBPCAD Sell -64.9 $6.57 -3.57% NZDUSD Buy 63.3 $8.32 4.73% AUDUSD...
Awesome Thanks for sharing Shaun!
  • #1,662
  • Sep 8, 2016 7:43pm Sep 8, 2016 7:43pm
Quoting Shaun24
My Current open trades. 
 Today's Opens EURCHF Buy - -2.40 - $0.32 GBPUSD Sell - -9.10 - $1.19 USDCHF Buy - -6.90 - $0.93 EURNZD Buy- - 5.10 - $0.49 
 Running GBPJPY Sell - -36.80 - $4.77 GBPCHF Sell - 3.40 - $0.35 EURGBP Buy - 42.20 - $7.29 GBPAUD Sell - 89.30 - $9.09 EURUSD Buy - 9.30 - $0.89 
 Closed this week NZDJPY Sell -25.6 $3.63 -1.74% CHFJPY Sell -21.6 $2.71 -1.28% EURJPY Sell 21.8 $2.78 1.33% GBPNZD Sell 217.6 $21.36 11.41% USDCAD Sell 96.3 $9.69 5.46% GBPCAD Sell -64.9 $6.57 -3.57% NZDUSD Buy 63.3 $8.32 4.73% AUDUSD...
Well done. Nice % return. For some of the new traders here. Try to train yourself to focus on the % return of your account each week. 1% per week is the way to build your Forex Income. It might not seem much but treat your Forex account as a savings account. Keep adding small amounts regularly and then focus % gains per week. When you realise how powerful this will become you will end up having a good sized account and trading smartly and safely. 20k account is $200 a week at 1% gain. Just imagine when your account is 50k. As one member says "it's not a race to riches, it's a walk to an income for life" can't remember who it was but he/she is right...

Took me a while to get my head around this phylosiphy but now I am in profit most weeks with a decent income.

When you hit a weely % target there is nothing wrong with stopping to trade for the rest of the week.

Happy trading.....
  • #1,663
  • Sep 8, 2016 7:55pm Sep 8, 2016 7:55pm
Quoting Jalby
{quote} Well done. Nice % return. For some of the new traders here. Try to train yourself to focus on the % return of your account each week. 1% per week is the way to build your Forex Income. It might not seem much but treat your Forex account as a savings account. Keep adding small amounts regularly and then focus % gains per week. When you realise how powerful this will become you will end up having a good sized account and trading smartly and safely. 20k account is $200 a week at 1% gain. Just imagine when your account is 50k. As one member...

This is so very true.

Being i have a small account however. My percentage gain looks amazing. But currently for the week I am up 22.5% roughly on a $150 account that is about $37 for the week. I am happy to start here and build. Compounding is an amazing thing.
  • #1,664
  • Sep 8, 2016 8:02pm Sep 8, 2016 8:02pm
Quoting Ghibli
{quote} Hi Shaun , may I know , why you are buying U/CH ? On my charts , the candle didn't cross the 5 MA..
Hi Ghibil,

You are correct. the price did not cross SMA 5
I feel this was a bit of a Friday rush of blood trade.

I liked the indecision candle from Wednesday. Followed by the large tail on Thursdays candle. Please ignore this trade for BK8's system.
  • #1,665
  • Sep 8, 2016 8:12pm Sep 8, 2016 8:12pm
Quoting Jalby
{quote} When you hit a weely % target there is nothing wrong with stopping to trade for the rest of the week. Happy trading.....
sorry, that`s not talking like a professional. you will have some bad weeks and you make sure to make the money while the going is good to cover the bad times.
dont think a farmer will stop making hay, because he hits his quota for the day.
  • #1,666
  • Sep 8, 2016 8:13pm Sep 8, 2016 8:13pm
Quoting Jalby
{quote} Well done. Nice % return. For some of the new traders here. Try to train yourself to focus on the % return of your account each week. 1% per week is the way to build your Forex Income. It might not seem much but treat your Forex account as a savings account. Keep adding small amounts regularly and then focus % gains per week. When you realise how powerful this will become you will end up having a good sized account and trading smartly and safely. 20k account is $200 a week at 1% gain. Just imagine when your account is 50k. As one member...
No no no, and another no. You never have a set quota to hit weekly, monthly daily or anything in trading, that is something taught to noobs and is just stupid, you think Im not going to take a trade when I see a perfect setup that fits my criteria, no way, i'll take it and some!
  • #1,667
  • Sep 8, 2016 8:17pm Sep 8, 2016 8:17pm
Quoting FX-Flux
{quote} Copy this into your mql4 folder. As you can see this is the folder that has your experts,files,scripts, ect. folders in Does no one fancy the EURGBP? {file} {image}
Hey Flux Thanks for the help earlier. The template I got from this forum still has the MA at 5, 3. Is there another template that has the shift at 0 or can you tell me how to do it myself?? Thanks!!
Gentlemen always play by the rules, if they can't, they change them.
  • #1,668
  • Sep 8, 2016 8:23pm Sep 8, 2016 8:23pm
Quoting deankenny21
{quote} No no no, and another no. You never have a set quota to hit weekly, monthly daily or anything in trading, that is something taught to noobs and is just stupid, you think Im not going to take a trade when I see a perfect setup that fits my criteria, no way, i'll take it and some!
if you see a good setup, why not....particular percentage of account growth per week or day or month is nonsense for me...
Money is made by sitting, not trading. Jesse L. Livermore
  • #1,669
  • Sep 8, 2016 8:28pm Sep 8, 2016 8:28pm
i think what deankenny21 mean is try to train a strict discipline first for the new traders and not take any setup that appear on chart. most of us have been down the same road before, we all make the same mistakes imo. following particular percentage per week keeps you away from overtrading. sometimes trading too much is bad too
  • #1,670
  • Sep 8, 2016 8:32pm Sep 8, 2016 8:32pm
Quoting callmejack
i think what deankenny21 mean is try to train a strict discipline first for the new traders and not take any setup that appear on chart. most of us have been down the same road before, we all make the same mistakes imo. following particular percentage per week keeps you away from overtrading. sometimes trading too much is bad too
There's no such thing as overtrading or undertrading, only taking wrong trades. You may be mixing this up with greed, revenge to get back into the market, which is psycological.

If one week you have 3 trades that meet criteria and present a good risk reward, then the next you get 10, this is not overtrading, this is just simply trading.
  • #1,671
  • Sep 8, 2016 8:40pm Sep 8, 2016 8:40pm
...is anybody long, USDCAD?...
Attached Image (click to enlarge)
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Money is made by sitting, not trading. Jesse L. Livermore
  • #1,672
  • Sep 8, 2016 8:42pm Sep 8, 2016 8:42pm
Quoting deankenny21
{quote} There's no such thing as overtrading or undertrading, only taking wrong trades. You may be mixing this up with greed, revenge to get back into the market, which is psycological. If one week you have 3 trades that meet criteria and present a good risk reward, then the next you get 10, this is not overtrading, this is just simply trading.
exactly, i couldn't interpret what i thought....because english isn't my native language .....
Money is made by sitting, not trading. Jesse L. Livermore
  • #1,673
  • Sep 8, 2016 8:49pm Sep 8, 2016 8:49pm
Imagine trying to tell any brokerage or firm on Wall St you have a weekly target/cap of which you will stop selling/trading, you will be chucked out faster than a GT-R can do 0-60mph
  • #1,674
  • Sep 8, 2016 8:50pm Sep 8, 2016 8:50pm
Quoting Shaun24
{quote} Hi Ghibil, You are correct. the price did not cross SMA 5 I feel this was a bit of a Friday rush of blood trade. I liked the indecision candle from Wednesday. Followed by the large tail on Thursdays candle. Please ignore this trade for BK8's system.
Ok, Thanks for the info
Read 1st post , if you don't understand something , then , ask a question
  • #1,675
  • Edited 9:23pm Sep 8, 2016 8:55pm | Edited 9:23pm
Opened a live account yesterday
B - EUR/GBP = + 37 pips
S - GBP/JPY = + 50 pips
B - GBP/CHF = (-60) pips - mistake here, went in late, manually closed this position out :-/...learned a lesson to stick to the rules

B - USD/CAD today - lets see where it goes....
  • #1,676
  • Sep 8, 2016 9:04pm Sep 8, 2016 9:04pm
Quoting DjPriz
Opened a live account yesterday S - EUR/GBP = + 37 pips S - GBP/JPY = + 50 pips B - GBP/CHF = (-60) pips - mistake here, went in late, manually closed this position out :-/...learned a lesson to stick to the rules B - USD/CAD today - lets see where it goes....
Sell Eur/Gbp, only opened account yesterday? Confused. Where, why ?

Attached Image
  • #1,677
  • Sep 8, 2016 9:05pm Sep 8, 2016 9:05pm
Quoting sam69
...is anybody long, USDCAD?... {image}
Yes Sam, Right now it does not look good but I am sure we will have surprise in the morning.. or since we did not have any bad day this week so Friday could be little disappointing ... lets hope for the best
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  • #1,678
  • Sep 8, 2016 9:08pm Sep 8, 2016 9:08pm
Quoting deankenny21
{quote} Sell Eur/Gbp, only opened account yesterday? Confused. Where, why ? {image}
Good catch Dean.. it should be long since yesterday
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  • #1,679
  • Sep 8, 2016 9:18pm Sep 8, 2016 9:18pm
Quoting Bk8
{quote} Yes Sam, Right now it does not look good but I am sure we will have surprise in the morning.. or since we did not have any bad day this week so Friday could be little disappointing ... lets hope for the best {image}

I saw this as going into a sideways move.

You have the previous sideways area to the left.
You have the bounce off "nothing" in the red area. Also the same area the long wick bounced from last week.
The entering candle also did not break the Middle BB

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  • #1,680
  • Sep 8, 2016 9:19pm Sep 8, 2016 9:19pm
EURAUD ia on the way..
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