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Monthly Profit - Daily Trading using SMA

  • #2,621
  • Sep 15, 2016 5:55pm Sep 15, 2016 5:55pm
Quoting deankenny21
{quote} Out of interest, who are you with?
Xm, mate..
Read 1st post , if you don't understand something , then , ask a question
  • #2,622
  • Sep 15, 2016 5:57pm Sep 15, 2016 5:57pm
Quoting TrueStoryfx
{quote} Thanks Bk8 for your system. Looking to add real value here.
Welcome TrueStoryFx!
  • #2,623
  • Sep 15, 2016 5:58pm Sep 15, 2016 5:58pm
I went long nzdusd and short gbpnzd.
  • #2,624
  • Sep 15, 2016 6:05pm Sep 15, 2016 6:05pm
Hi BK8, I'm new to forex after trading stocks and futures for a while and your system is a great introduction. Thanks!
  • #2,625
  • Sep 15, 2016 6:21pm Sep 15, 2016 6:21pm
Quoting Ghibli
{quote} Xm, mate..
What problem do you facing with XM?

I am using XM Zero Account.
I Win, I Lose, It's my Job... And I Love it!
  • #2,626
  • Sep 15, 2016 6:24pm Sep 15, 2016 6:24pm
Quoting Ghibli
{quote} Yes,you are right timster ..I had already some problems with this brok..specially with spread manipulation,when the price is near SL and TP..will change for sure
I don't agree with your AU S/R placements sir atleast not the one your concerned about. Its not a major area of resistance. I think price will move 50 pips north before hitting any kind of Resistance. We'll see though. Happy pips!
Gentlemen always play by the rules, if they can't, they change them.
  • #2,627
  • Sep 15, 2016 6:28pm Sep 15, 2016 6:28pm
Quoting Bsmile44
{quote} I don't agree with your AU S/R placements sir atleast not the one your concerned about. Its not a major area of resistance. I think price will move 50 pips north before hitting any kind of Resistance. We'll see though. Happy pips!
Hi , Of course it's not very major..but there is one. I hope so, that the price will go up,even 200 pips I took this trade..
Read 1st post , if you don't understand something , then , ask a question
  • #2,628
  • Edited 6:57pm Sep 15, 2016 6:43pm | Edited 6:57pm
Quoting umairsheikh2
{quote} What problem do you facing with XM? I am using XM Zero Account.
Hi , I have X M standard for about few years and sometimes I had situations when they for example hit my SL if the price wasn't there..for example in the morning there was 3 pips spraed and no major news during the day..I had my SL 30 pips above the high of the candle..On the afternoon when I got back I noticed that my SL is hit ,but the price wasn't there ,it was about 20 pips range between my Sl and moment where the price reversed from that point..If they wouldn't enlarge the spread ( from 3 to 20 pips ) that position went all away down and that would be my wining not loosing position..I was speaking with them and they told me , that they closed my position because of the spread..another situation was when the price ( on the support ) didn't hit my TP ,even ,that the price went many pips below my TP..and the spread was only 2 pips..Then of course went back to up and never took my TP..this are just my few personal situations and experience. The payout was always good ,with no problem
Read 1st post , if you don't understand something , then , ask a question
  • #2,629
  • Sep 15, 2016 6:57pm Sep 15, 2016 6:57pm
Quoting Ghibli
{quote} Hi , I have X M standard for about few years and sometimes I had situations when they for example hit my SL if the price wasn't there..for example in the morning there was 3 pips spraed and no major news during the day..I had my SL 30 pips above the high of the candle..On the afternoon when I got back I noticed that my SL is hit ,but the price wasn't there ,it was about 20 pips range between my Sl and moment where the price reversed from that point..If they wouldn't enlarge the spread ( from 3 to 20 pips ) that position went all away down...
This can happen on any broker, alot of the time it's the LP (liquidity pool) not the broker, and what offer prices come from the banks, spread can momentarily wide to anything if a random order gets put in like a billion from a random investment firm which will move the market violently thus increasing the spread tenfold.
  • #2,630
  • Sep 15, 2016 6:59pm Sep 15, 2016 6:59pm
Quoting deankenny21
{quote} This can happen on any broker, alot of the time it's the LP (liquidity pool) not the broker, and what offer prices come from the banks, spread can momentarily wide to anything if a random order gets put in like a billion from a random investment firm which will move the market violently thus increasing the spread tenfold.
Ok,so it's all fine, thanks for the info
Read 1st post , if you don't understand something , then , ask a question
  • #2,631
  • Sep 15, 2016 7:29pm Sep 15, 2016 7:29pm
Quoting deankenny21
{quote} This can happen on any broker, alot of the time it's the LP (liquidity pool) not the broker, and what offer prices come from the banks, spread can momentarily wide to anything if a random order gets put in like a billion from a random investment firm which will move the market violently thus increasing the spread tenfold.
If this is true, then using stop loss is not a welcome idea.
The World As It Is Can Do With Your Positive Disposition
  • #2,632
  • Sep 15, 2016 7:32pm Sep 15, 2016 7:32pm
Quoting notreally
I went long nzdusd and short gbpnzd.
Good trades. While both GBPNZD and GBPAUD shows signal, GBPNZD is a higher probability trade
  • #2,633
  • Sep 15, 2016 7:42pm Sep 15, 2016 7:42pm
Quoting liberty71
{quote} If this is true, then using stop loss is not a welcome idea.
Well it's like stop hunts, we could place our stop above below recent highs lows, but if a stop hunt happens we cannot stop it, this happens and we just have to deal with it, it's all part of trading and psycology plays a big part in dealing with stuff like this.

Stop hunts BTW are not done by brokers, they are done by big firms so they can get thier large orders filled. It's more commonly known in the professional sector as a "liqudity hunt".
  • #2,634
  • Sep 15, 2016 7:49pm Sep 15, 2016 7:49pm
Quoting deankenny21
{quote} Well it's like stop hunts, we could place our stop above below recent highs lows, but if a stop hunt happens we cannot stop it, this happens and we just have to deal with it, it's all part of trading and psycology plays a big part in dealing with stuff like this. Stop hunts BTW are not done by brokers, they are done by big firms so they can get thier large orders filled. It's more commonly known in the professional sector as a "liqudity hunt".

It seems to me that you are making a good case for the daily candles that we are trading with this system, since
the stops give us plenty of room to provide protection from the stop hunters.
  • #2,635
  • Sep 15, 2016 8:26pm Sep 15, 2016 8:26pm
Quoting biganc
{quote} It seems to me that you are making a good case for the daily candles that we are trading with this system, since the stops give us plenty of room to provide protection from the stop hunters.
Yes this is why I lurk here, if you checked my profile you will see my bread and butter is supply and demand trading, and been succesful for many years, but with that comes the lifestyle of so much free time!! and that can get very boring, so I lurk around FF chime in here and there, and post in threads which I see potential with, and as mentioned in my first post here, trading the daily timeframe is the first step to becoming a profitable trader (not saying lower timeframs do not create profits, but trading them on their own you without daily TF analysis will get you burnt) So with that and BK8s amazing attitude to sharing I decided to become an active member in this thread

trading dailys, I mentioned this aswell somewhere on this thread, trading dailys will allow you to avoid alot of noise, and deceit that big firms use against retail trader such as liquidity hunts etc, trends establish themselves on the daily, and big firms will get in lower tf's using our stops of retail traders on those TFs to fill their orders, before price continues in the direction of the daily tf which is ultimately driven by fundamentals.
  • #2,636
  • Sep 15, 2016 8:36pm Sep 15, 2016 8:36pm
Quoting deankenny21
{quote} Yes this is why I lurk here, if you checked my profile you will see my bread and butter is supply and demand trading, and been succesful for many years, but with that comes the lifestyle of so much free time!! and that can get very boring, so I lurk around FF chime in here and there, and post in threads which I see potential with, and as mentioned in my first post here, trading the daily timeframe is the first step to becoming a profitable trader (not saying lower timeframs do not create profits, but trading them on their own you without...
Since you trade supply and demand, you don't place the trade only on bk8s strategy, you incorporate supply and demand into your trade when the bk8 strategy looks good.
  • #2,637
  • Sep 15, 2016 8:37pm Sep 15, 2016 8:37pm
Quoting biganc
{quote} Since you trade supply and demand, you don't place the trade only on bk8s strategy, you incorporate supply and demand into your trade when the bk8 strategy looks good.
Next question. Do you have an supply demand indicator that would complement bk8s strategy?
  • #2,638
  • Sep 15, 2016 8:38pm Sep 15, 2016 8:38pm
Quoting biganc
{quote} Since you trade supply and demand, you don't place the trade only on bk8s strategy, you incorporate supply and demand into your trade when the bk8 strategy looks good.
I do not use BK8s strategy on any live account, I simply follow it, and enjoy the progress and input from others as they progress with the system, trying to help wherever I can. However I have seen crosses happen right on crucial supply/demand areas which have been the biggest drivers of wins I seen from users, but I will not divulge into that in respect to the simplicity of BK8's system of which is good enough. The only thing that will hurt you using this style, is bad money management and bad emotional control AKA psycology.
  • #2,639
  • Sep 15, 2016 8:43pm Sep 15, 2016 8:43pm
Quoting deankenny21
{quote} I do not use BK8s strategy on any live account, I simply follow it, and enjoy the progress and input from others as they progress with the system, trying to help wherever I can. However I have seen crosses happen right on crucial supply/demand areas which have been the biggest drivers of wins I seen from users, but I will not divulge into that in respect to the simplicity of BK8's system of which is good enough. The only thing that will hurt you using this style, is bad money management and bad emotional control AKA psycology.
Seems like you love using skype!
  • #2,640
  • Sep 15, 2016 9:22pm Sep 15, 2016 9:22pm
Quoting deankenny21
{quote} Well it's like stop hunts, we could place our stop above below recent highs lows, but if a stop hunt happens we cannot stop it, this happens and we just have to deal with it, it's all part of trading and psycology plays a big part in dealing with stuff like this. Stop hunts BTW are not done by brokers, they are done by big firms so they can get thier large orders filled. It's more commonly known in the professional sector as a "liqudity hunt".
Dean, thanks for your contribution to this thread. As a newbie I learn a lot from your input, along with other contributors on this thread.
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