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Monthly Profit - Daily Trading using SMA

  • #2,001
  • Sep 11, 2016 12:59pm Sep 11, 2016 12:59pm
Quoting umairsheikh2
Why we are adding so many factors such as SR, Supply & Demand and trend etc... Now we are ignoring simplicity of this method such as SMA crosses. I think the beauty of this system is newbie friendly and momentum trading. We just need to spot only sideways market for avoiding choppy setups. Now we are getting confused for not taking trades because they are against from main trend, SD & S/R zone everywhere and off course big round numbers. LOL! If these things exactly works then we are losing money? Think about it? We are always thankful to BK8 for...
Yes!
Trade this with basics from post one and watch results.
Results are not in that way you want it, change to another system.

Make sure you are in harmony with the trading style you use, and do not take it to emergency room.
All systems i know from, have good and bad times.

Working on the mental side is the key.
Perfection is the enemy of good enough!
  • #2,002
  • Sep 11, 2016 1:02pm Sep 11, 2016 1:02pm
A/C congestion - G/A too close to resistance and have other GBP entries anyway - N/J congestion - A/U too close to resistance and have other USD entries.

buy G/C, G/N, U/CH, U/J.
sell A/CH, A/J, N/CH, N/U

@ Bk8: I did not take A/J last week - long wick - would have been stopped out same day as price just hit candle high + 15 pips on my chart.
  • #2,003
  • Sep 11, 2016 1:03pm Sep 11, 2016 1:03pm
Quoting umairsheikh2
Why we are adding so many factors such as SR, Supply & Demand and trend etc... Now we are ignoring simplicity of this method such as SMA crosses. I think the beauty of this system is newbie friendly and momentum trading. We just need to spot only sideways market for avoiding choppy setups. Now we are getting confused for not taking trades because they are against from main trend, SD & S/R zone everywhere and off course big round numbers. LOL! If these things exactly works then we are losing money? Think about it? We are always thankful to BK8 for...
Hi umairsheikh2 , SR levels are only for orientation ,I uploaded pictures with SR levels ,but for example ,today I will sell NZD/USD although the price is on the support ..I am sticking to the simplicity and to the rules ,no one is adding any kind of indicators etc,just some areas for viewing..by the way it helped me with my TP last week and I got huge amount of pips..no one is adding anything or changing the rules ​
Read 1st post , if you don't understand something , then , ask a question
  • #2,004
  • Sep 11, 2016 1:04pm Sep 11, 2016 1:04pm
these are the 'safe setups' i'm seeing.

NZDUSD

NZDCHF

XAUUSD

other setups with more risk

GBPNZD - upper bollinger not too far away

GBPCAD - appears stuck in consolidation, large bar due to friday news

GBPAUD - upper bollinger not too far away

correct me if i'm wrong thanks.
  • #2,005
  • Edited 1:50pm Sep 11, 2016 1:12pm | Edited 1:50pm
My favorite setups are NJ and NCHF. NCHJ is slightly better in my option due to the false break through of the zone above forming a double daily top and price moving back down sharply. Lots of good R:R on both NJ and NCHF with middle and bottom BB's way below.

The more risky, but fun play could be GA. 1.7650 needs to break. Also, top BB is just above. Inverted head and shoulders on the daily. The last should is forming. Could be good for a long, but still risky.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nchf daily.PNG Size: 29 KB
Click to Enlarge Name: nj daily.PNG Size: 25 KB
Click to Enlarge Name: ga daily.PNG Size: 20 KB
  • #2,006
  • Sep 11, 2016 1:58pm Sep 11, 2016 1:58pm
@Contributors - Thank you very much for your support..
As discussed last week, going froward I will post a list of common setups based on your inputs so that we can focus on certain number of setups only.
weekday - 5:30 PM EST and Sunday - 4:30 PM EST

You may takeover this task, if you find me late or not available any particular day whatever the reason.
  • #2,007
  • Sep 11, 2016 2:02pm Sep 11, 2016 2:02pm
My pea-sized brain is telling me that, if FINVIZ is to be trusted (see picture below) (FINVIZ->FOREX->PERFORMANCE):
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 28 KB


Then we should favor Shorting AUD and NZD pairs, while going Long USD and JPY pairs, such as NZD/JPY:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 96 KB


I hope I am making sense (to myself as well as to everyone else). Time shall tell ...
  • #2,008
  • Sep 11, 2016 2:45pm Sep 11, 2016 2:45pm
Here are the pairs I look at today. EURNZD, NZDJPY and USDJPY are favorites.

AUDCHF good for sell but long candle?
AUDJPY little sideways
AUDNZD
AUDUSD sell but long candle and heading to support
CADCHF
EURAUD buy but long candle
EURCAD
EURCHF
EURGBP
EURNZD buy
EURUSD
GBPAUD buy but long candle and near resistance
GBPCAD buy but headed to last week high
GBPNZD buy but headed to last week high
GBPUSD
NZDCAD
NZDJPY sell
NZDUSD sell with a little room to run
USDCAD buy but long candle and near last week high
USDCHF buy but long candle and near last week high
USDJPY buy
  • #2,009
  • Sep 11, 2016 3:21pm Sep 11, 2016 3:21pm
NZD-CHF, NZD-JPY, GOLD gives me good signs these pairs have cruzdo SMA 5 with force, and for me personally, if the price comes from an overbought give more credibility.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2016-09-11 NZD-CHF DIA.png Size: 27 KB
Click to Enlarge Name: 2016-09-11 NZD-JPY DIA.png Size: 25 KB
Click to Enlarge Name: 2016-09-11 GOLD DIA.png Size: 25 KB
  • #2,010
  • Sep 11, 2016 3:29pm Sep 11, 2016 3:29pm
Quoting Bk8
@Contributors - Thank you very much for your support.. As discussed last week, going froward I will post a list of common setups based on your inputs so that we can focus on certain number of setups only. weekday - 5:30 PM EST and Sunday - 4:30 PM EST You may takeover this task, if you find me late or not available any particular day whatever the reason.
great! This will help us learn better. I took some signals l last week that you didn't .. And it cost me some profit in the end ... Still up overall last week ... But I would have liked to have known that they weren't in coherence with the strategy before I made the decision to pull the trigger.
  • #2,011
  • Edited 4:47pm Sep 11, 2016 3:32pm | Edited 4:47pm
Quoting Bk8
@Contributors - Thank you very much for your support.. As discussed last week, going froward I will post a list of common setups based on your inputs so that we can focus on certain number of setups only. weekday - 5:30 PM EST and Sunday - 4:30 PM EST You may takeover this task, if you find me late or not available any particular day whatever the reason.
All,

Here are todays setups

Long - GBP/CAD
Short - NZD/CHF , NZD/USD, AUD/CHF, GOLD


TP -
Postion 1 - TP=SL
Position 2 - No TP
SL - High/Low (+-15) of previous candle
  • #2,012
  • Sep 11, 2016 3:37pm Sep 11, 2016 3:37pm
Quoting Bk8
{quote} All, Here are todays setups Long - GBP/CAD Short - NZD/CHF , NZD/USD, AUD/CHF, GOLD TP - Postion 1 - TP=SL Position 2 - No TP SL - High/Low of previous candle
You not like the look of the nzdjpy?
So many in the Commercial section want to make me rich! :o
  • #2,013
  • Sep 11, 2016 3:40pm Sep 11, 2016 3:40pm
Bk8: no G/N U/CH U/J for you?
  • #2,014
  • Sep 11, 2016 3:40pm Sep 11, 2016 3:40pm
Quoting FX-Flux
{quote} You not like the look of the nzdjpy?
Hi Fx-Flux,

NJ has little sideways pattern
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 88 KB
  • #2,015
  • Sep 11, 2016 3:43pm Sep 11, 2016 3:43pm
Quoting yonnie
Bk8: no G/N U/CH U/J for you?
Hi yonnie

G/N has room for 1 candle only
U/CHF and U/J both have long wick
  • #2,016
  • Sep 11, 2016 3:45pm Sep 11, 2016 3:45pm
Hi Bk8 just wondering about BB, so you TP when its 3candles or when it hits the top line off BB?
The same just wondering how can i know when my daily candles closes?
Did you use the Daily_cross v2 on you phone?
  • #2,017
  • Sep 11, 2016 3:49pm Sep 11, 2016 3:49pm
Quoting Sandeens22
Hi Bk8 just wondering about BB, so you TP when its 3candles or when it hits the top line off BB? The same just wondering how can i know when my daily candles closes? Did you use the Daily_cross v2 on you phone?
Unfortunately, I can not use any script on phone. I scan all charts manually.. thats why I rely on contributors too much

TP - 3 Candles or upper/lower BB line applies for a second position.
  • #2,018
  • Sep 11, 2016 3:54pm Sep 11, 2016 3:54pm
Actually BB make me confuse little bit but is it ok if i just TP by waiting 3candles?
  • #2,019
  • Sep 11, 2016 3:54pm Sep 11, 2016 3:54pm
Ok....Release the kraken !
Attached Image
Read 1st post , if you don't understand something , then , ask a question
  • #2,020
  • Sep 11, 2016 3:58pm Sep 11, 2016 3:58pm
Quoting Ghibli
Ok....Release the kraken ! {image}
I love this excitement thats why I am still experimenting something for lower timeframe when I know lower timeframe will never give consistent profit.
If you guys are interested , please participate in my H1 thread just for fun, I will try to spend more time this week.
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