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Monthly Profit - Daily Trading using SMA

  • #2,761
  • Sep 16, 2016 3:36pm Sep 16, 2016 3:36pm
Guys, remember you will have losers, best traders in the world have losers, it's all about money management and risk.

You may have took a trade and lost from yesterday, but look at GBPAUD, it's flying, and has potential to be a steam train runaway and not only cover your losses but close in profit too, covering the losses and adding on top. This is why in the long run if you stick to the rules, take the losers as part of trading, and allow the winners to run, you will always end out on top in the long run.
  • #2,762
  • Sep 16, 2016 3:39pm Sep 16, 2016 3:39pm
Quoting Bk8
Looks like AU will have sideways pattern next few days {image}
Possibly, but looking at EUR and GBP against USD....... maybe the Dollar Index breakout soon

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-09-17_6-35-23.png Size: 150 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,763
  • Sep 16, 2016 3:41pm Sep 16, 2016 3:41pm
Quoting deankenny21
Guys, remember you will have losers, best traders in the world have losers, it's all about money management and risk. You may have took a trade and lost from yesterday, but look at GBPAUD, it's flying, and has potential to be a steam train runaway and not only cover your losses but close in profit too, covering the losses and adding on top. This is why in the long run if you stick to the rules, take the losers as part of trading, and allow the winners to run, you will always end out on top in the long run.
This post needs a "LIKE" button!

Well said, thanks

Have a great weekend everybody
It takes a lot for me to IGNORE you, but you can try.
  • #2,764
  • Sep 16, 2016 3:44pm Sep 16, 2016 3:44pm
Quoting Bestof27
Good day with GA, closed first position and still on with second one. AU and NU are against us. According to the rules, we should set our TP to breakeven... You confirm BK8
I would recommend to not touch setups if you have other winners in your portfolio

just to remind - we have only one loser in last 2 weeks!!!
Mondays setups were negative but recovered next day and became profitable.
  • #2,765
  • Sep 16, 2016 3:46pm Sep 16, 2016 3:46pm
Quoting hammadshahir
{quote} You're teaching me a lesson after lesson that DON'T CLOSE TRADE EARLY. I have closed all my trades way earlier then anticipated. But again, I was using your strategy for first time. I closed GBPCHF yesterday. :|
thanks even I learned hard way
  • #2,766
  • Sep 16, 2016 3:46pm Sep 16, 2016 3:46pm
Quoting chiche
{quote} Nice job bk8, what period is BB?
Please read #1 20,0,2 close
  • #2,767
  • Sep 16, 2016 3:51pm Sep 16, 2016 3:51pm
Quoting Bk8
{quote} I would recommend to not touch setups if you have other winners in your portfolio just to remind - we have only one loser in last 2 weeks!!! Mondays setups were negative but recovered next day and became profitable.
Thank you Bk8 for sharing
Let them run for the best ...
  • #2,768
  • Sep 16, 2016 3:51pm Sep 16, 2016 3:51pm
Quoting hammadshahir
16% return in this week despite sideways and also not too much trading activity. But again, at least I am +ve. Thanks to Bk.
Thanks for your feedabck.

Think about some scalpaers whose target is 20 pips per day.... they have to sit all day and still there is no certainty whether they will earn 20 pips

we tarded twice this week only for few minutes and even took bad setups on Monday still we made 500+ pips this week
  • #2,769
  • Sep 16, 2016 3:53pm Sep 16, 2016 3:53pm
Quoting Bk8
{quote} Thanks for your feedabck. Think about some scalpaer whose target is 20 pips per day.... they have to sit all day and still there is no certainly whether they will earn 20 pips we tarded twice this week only for few minutes and even took bad setups on Monday still we made 500+ pips this week
That's the point. We collect more than 20x5=100 pips from our trading setups. I need to work on closing my positions in time -- not early.
  • #2,770
  • Sep 16, 2016 4:01pm Sep 16, 2016 4:01pm
Quoting Erebus
{quote} Possibly, but looking at EUR and GBP against USD....... maybe the Dollar Index breakout soon {image}
Chances are that Fed will not raised interest rate due to bad economy, political (elections) and various other reasons. They will hike after election or in December.

If this happens, it will drive Stock markets, Gold and Oil north ... which means LONG -> AUDUSD NZDUSD & JPY pairs SHORT -> USDCAD

So fate of Dollar Index breaking out or not depends on Interest Rate decision.
  • #2,771
  • Sep 16, 2016 4:28pm Sep 16, 2016 4:28pm
Decent week. I'm following the entry rules exactly and still working on the exit strategy. I'm flat going into the weekend and next week, I plan to follow the exit strategy as written by the OP in post #1.

EG +73
UCNH +130
NU -59
EN +22
NC +27
UJ -95
GA +62
NJ +24

Total for the week +184
  • #2,772
  • Sep 16, 2016 4:32pm Sep 16, 2016 4:32pm
Quoting Bk8
{quote} All, Setups from last week - G/CHF and U/CAD are still profitable Setups from Sunday - A/CHF, N/CHF, N/U are still profitable, we may close some due to sign of reversal. Setups from Monday - E/G hit stoploess on Tuesday, E/CHF reached breakeven today So far we have only one loser in last 2 weeks. Todays Setups (Chances 70-80%) Long -A/U , N/U Short - E/N, G/A Good luck!
All,
Setups from last week - G/CHF and U/CAD had great day today, Most of our traders already took profit from first position last week and we are running profitable second positions on following

G/CHF +200 Pips
U/CAD +285 Pips


Setups from Sunday

We took profit on A/CHF, N/CHF, N/U on Tuesday but second profit stopped later on breakeven
N/U +80 Pips
N/CHF +35 PIPS
A/CHF +50 PIPS

Setups from Monday

E/G hit stoploess on Tuesday, E/CHF reached breakeven yesterday

Setups from Thursday

G/A + 275 Pips
A/U -27 Pips
N/U - 50 Pips
E/N +15 Pips

Thank You for your support and Have a great weekend!!
  • #2,773
  • Sep 16, 2016 4:35pm Sep 16, 2016 4:35pm
Quoting marinecorps
Decent week. I'm following the entry rules exactly and still working on the exit strategy. I'm flat going into the weekend and next week, I plan to follow the exit strategy as written by the OP in post #1. EG +73 UCNH +130 NU -59 EN +22 NC +27 UJ -95 GA +62 NJ +24 Total for the week +184
  • #2,774
  • Sep 16, 2016 4:36pm Sep 16, 2016 4:36pm
Quoting Erebus
{quote} This post needs a "LIKE" button! Well said, thanks Have a great weekend everybody
Many years, and gruelling sessions lead me to such wisdom

It comes with experience of those that do not quit
  • #2,775
  • Sep 16, 2016 5:17pm Sep 16, 2016 5:17pm
Hello, I just saw this thread with the Daily SMA5 system. IN terms of set up, does the daily candle have to just pierce the SMA or does it have to close on gther other side of it? And does the direction of the SMA have to agree with the direction of the trade?
  • #2,776
  • Sep 16, 2016 5:21pm Sep 16, 2016 5:21pm
Quoting marinecorps
Decent week. I'm following the entry rules exactly and still working on the exit strategy. I'm flat going into the weekend and next week, I plan to follow the exit strategy as written by the OP in post #1. EG +73 UCNH +130 NU -59 EN +22 NC +27 UJ -95 GA +62 NJ +24 Total for the week +184
Hi, Please give me the exact entry rules as you follow them
  • #2,777
  • Sep 16, 2016 5:24pm Sep 16, 2016 5:24pm
Is that what the chart looks like when you use this system? http://prntscr.com/civn0z
  • #2,778
  • Sep 16, 2016 5:28pm Sep 16, 2016 5:28pm
Hey guys, looking at the chart with BB and 5 SMA daily, it seems that the successful trades are those which are taken after a move to the BB, and then reversing back through the SMA. Is that how you time your entries?
  • #2,779
  • Sep 16, 2016 5:29pm Sep 16, 2016 5:29pm
Quote
shimmering
look post o1 rule and entry
  • #2,780
  • Sep 16, 2016 5:34pm Sep 16, 2016 5:34pm
Quoting Bk8
{quote} All, Setups from last week - G/CHF and U/CAD had great day today, Most of our traders already took profit from first position last week and we are running profitable second positions on following G/CHF +200 Pips U/CAD +285 Pips Setups from Sunday We took profit on A/CHF, N/CHF, N/U on Tuesday but second profit stopped later on breakeven N/U +80 Pips N/CHF +35 PIPS A/CHF +50 PIPS Setups from Monday E/G hit stoploess on Tuesday, E/CHF reached breakeven yesterday Setups from Thursday G/A + 275 Pips A/U -27 Pips N/U - 50 Pips E/N +15 Pips Thank...
BK8, you seem very dedicated to helping people! I wonder if you will give the set ups for the end of this week? I would like to try this system, and need to learn it !
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