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Monthly Profit - Daily Trading using SMA

  • #2,921
  • Sep 18, 2016 7:55am Sep 18, 2016 7:55am
Quoting shimmering
{quote} Please explain the exit strategy with two equal positions.
Well it means ,that you are taking 2 positions on one pair at the same time..for example when you are entring the trade ,you have to go 2 X 0.01 lot ..Your first position - TP1, you are closing with 1:1 risk ratio ,the second position you are leaving to go "forever"..On every next candle that will form, you are moving your SL above / below (10,15 pips + spread ) the highest high ( while short position ) and on the lowest low ( while long position) when it will "close the day "..you are doing this untill the market will Sl you out..I hope that this will help you, to better understand this strategy
Read 1st post , if you don't understand something , then , ask a question
  • #2,922
  • Edited 8:45am Sep 18, 2016 7:55am | Edited 8:45am
These are the trades for me. Feeling the current candles don't have long wicks and looks like the previous candle have already hit their high and can't have a breakout from their high. I'm like selling all the way. Lol. Selling EA, EC, EN, GC, GA. Not sure if my analysis make sense? Comments please (:
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  • #2,923
  • Sep 18, 2016 7:56am Sep 18, 2016 7:56am
Hi...anyone have opinion about bomb At new york? I think USD might weak.
  • #2,924
  • Sep 18, 2016 7:58am Sep 18, 2016 7:58am
Thanks Ghibli! I was waiting for someone to answer who can explain better than me

Quoting Ghibli
{quote} Well it means ,that you are taking 2 positions on one pair at the same time..for example when you are entring the trade ,you have to go 2 X 0.01 lot ..Your first position - TP1, you are closing with 1:1 risk ratio ,the second position you are leaving to go "forever"..On every next candle that will form, you are moving your SL above / below (10,15 pips + spread ) the highest high ( while short position ) and on the lowest low ( while long position) when it will "close teh day "..you are doing this untill the market will Sl you out..I hope...
  • #2,925
  • Sep 18, 2016 8:00am Sep 18, 2016 8:00am
Quoting Takahir
Hi...anyone have opinion about bomb At new york? I think USD might weak.
Everything is fine here... do not worry.
  • #2,926
  • Sep 18, 2016 8:00am Sep 18, 2016 8:00am
Quoting Bk8
Thanks Ghibli! I was waiting for someone to answer who can explain better than me {quote}
No one can do this better, than you boss haha
Read 1st post , if you don't understand something , then , ask a question
  • #2,927
  • Sep 18, 2016 8:00am Sep 18, 2016 8:00am
Hello,
I have been following this thread and find it very interesting. I have asked a couple of question about S/R levels, and to my knowledge I haven't gotten a response. So if anyone has responded I apologize, I did not see it. It looks like entries are made just because the pair has crossed the MA, with no regards to S/R. My only suggestion would be to at least take a couple of seconds to see where price is in relation to levels. As I noted the other day, that NU and AU were in very significant levels of resistance, possibly even retesting broken levels, or the MA itself. If we are to get in the trade, maybe we should wait for it to confirm the move. The worst would be we would possibly lose a few pips, but it has confirmed our move. Or in this case if you believe the move on NU or AU is correct, you actually have better entry levels, and less at risk because we are closer to our stop levels. These trades are negative at the moment, not saying they won't go in the direction that the trade was entered but a better entry could have been made, or you might even be looking short at the moment because I believe they are now back below the MA. For me personally those were trades to watch, if price breaks resistance I would be looking for the long on a retest of broken S/R level. The trades that really took off were bouncing off nice S/R levels not going into them. In my opinion, which really means nothing, just a little more patience, and taking a quick look at S/R as to where price might be, could at worst get us better entry levels. I'm on board with you guys, just throwing out some ideas. I have an indicator on my chart showing monthly, weekly and daily open prices, you will find out how often price will bounce off those monthly, and weekly levels.

Anyway great thread!! Please don't over-react to peoples opinions, we all want to get on the positive side of trading.
Thank you all!!
  • #2,928
  • Sep 18, 2016 8:03am Sep 18, 2016 8:03am
hey bk8
we can simple identify sideways market have a good indi?
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  • #2,929
  • Sep 18, 2016 8:04am Sep 18, 2016 8:04am
Quoting Ghibli
{quote} No one can do this better, than you boss haha
Seriously.. sometime we have hard time to find right words.. so either we can try after sometime or just explain to someone who can do better job, in this case you did
  • #2,930
  • Sep 18, 2016 8:07am Sep 18, 2016 8:07am
@Ghibli please help HeelFan, since only few traders have expertise on S&R in our group.

Quoting Heelfan23
Hello, I have been following this thread and find it very interesting. I have asked a couple of question about S/R levels, and to my knowledge I haven't gotten a response. So if anyone has responded I apologize, I did not see it. It looks like entries are made just because the pair has crossed the MA, with no regards to S/R. My only suggestion would be to at least take a couple of seconds to see where price is in relation to levels. As I noted the other day, that NU and AU were in very significant levels of resistance, possibly even retesting broken...
  • #2,931
  • Sep 18, 2016 8:08am Sep 18, 2016 8:08am
Quoting Heelfan23
Hello, I have been following this thread and find it very interesting. I have asked a couple of question about S/R levels, and to my knowledge I haven't gotten a response. So if anyone has responded I apologize, I did not see it. It looks like entries are made just because the pair has crossed the MA, with no regards to S/R. My only suggestion would be to at least take a couple of seconds to see where price is in relation to levels. As I noted the other day, that NU and AU were in very significant levels of resistance, possibly even retesting broken...
Hi , that's way I am posting the S/R levels etc ,for traders right here, to choose what they would like the best..the S/R levels are not the main rule..it's only for overview the situation ,on the pairs..check this post - http://www.forexfactory.com/showthre...04#post9146104
Read 1st post , if you don't understand something , then , ask a question
  • #2,932
  • Sep 18, 2016 8:11am Sep 18, 2016 8:11am
Quote
Hi , that's way I am posting the S/R levels etc ,for traders right here, to choose what they would like the best..the S/R levels are not the main rule..it's only for overview the situation ,on the pairs..check this post - http://www.forexfactory.com/showthre...04#post9146104

thank for u
  • #2,933
  • Sep 18, 2016 8:12am Sep 18, 2016 8:12am
Quoting saranga
hey bk8 we can simple identify sideways market have a good indi? {image}
Great idea, thanks saranga.. let me add this in my to do experiments
I am sure other traders will also try.
Please develop something using available indicators so that mobile traders do not have to struggle.

P.S. this should not be a showstopper since we can easily find out sideways manaually.
  • #2,934
  • Sep 18, 2016 8:14am Sep 18, 2016 8:14am
Quoting saranga
{quote} thank for u
I am glad that it was helpful , Thank you saranga
Read 1st post , if you don't understand something , then , ask a question
  • #2,935
  • Sep 18, 2016 8:16am Sep 18, 2016 8:16am
Quoting Ghibli
{quote} Well it means ,that you are taking 2 positions on one pair at the same time..for example when you are entring the trade ,you have to go 2 X 0.01 lot ..Your first position - TP1, you are closing with 1:1 risk ratio ,the second position you are leaving to go "forever"..On every next candle that will form, you are moving your SL above / below (10,15 pips + spread ) the highest high ( while short position ) and on the lowest low ( while long position) when it will "close the day "..you are doing this untill the market will Sl you out..I hope...
Thank you.
  • #2,936
  • Sep 18, 2016 8:23am Sep 18, 2016 8:23am
Quoting Ghibli
Some of opportunities today ... EUR/AUD {image} NZD/CHF {image} AUD/CHF {image} CAD/CHF {image} AUD/NZD {image} EUR/CAD {image} GBP/CAD {image} {image}
Hello wonderful answerer! Can you please tell me, except for on Friday evening 5 P.m. NY, is the idea to look at the daily chart as per this strategy, and if the current daily candle closes beyond the 5SMA, and that candle does not touch the BB, to then immediately enter?
  • #2,937
  • Sep 18, 2016 8:32am Sep 18, 2016 8:32am
Quoting shimmering
{quote} Hello wonderful answerer! Can you please tell me, except for on Friday evening 5 P.m. NY, is the idea to look at the daily chart as per this strategy, and if the current daily candle closes beyond the 5SMA, and that candle does not touch the BB, to then immediately enter?
Main rules ,are that you are waiting for present daily candle to close ..if the pair was not in ranging/sideways/consolidation and the candle is closed beyound the SMA you are entering the trade..and about BB..
we don't want price to be close to the upper BB ( while you want go long ) and close to the lower BB ( if you want to sell ) ..also BB should be not very narrow at this time.
You have to look out at the end of the day candle to not enter immediately ,when the spread is very big ( often after D1 close ,it is )
Read 1st post , if you don't understand something , then , ask a question
  • #2,938
  • Sep 18, 2016 8:33am Sep 18, 2016 8:33am
Quoting Ghibli
{quote} Hi, it should close beyound the SMA

Hi Ghibli, have you tried it with just piercing the MA? I ask because looking at a few scharts, including your NZD/CHF, an earlier entry would have resulted, close to your trendline.
  • #2,939
  • Sep 18, 2016 8:34am Sep 18, 2016 8:34am
Quoting Bk8
@Ghibli please help HeelFan, since only few traders have expertise on S&R in our group. {quote}
Thank you, for the response. I wasn't asking for help though. I was just making a suggestion. It seems some traders are just entering trades because it crossed the MA, without looking to see where a pair might be, as far as S/R levels. I thought I would add my two cents. Just trying to help, if anything maybe get a better entry point. Please don't take it as negative, it is intended to be positive, and to possibly help.
  • #2,940
  • Sep 18, 2016 8:35am Sep 18, 2016 8:35am
Quoting shimmering
{quote} Hello wonderful answerer! Can you please tell me, except for on Friday evening 5 P.m. NY, is the idea to look at the daily chart as per this strategy, and if the current daily candle closes beyond the 5SMA, and that candle does not touch the BB, to then immediately enter?
Will give you an example below ..the candle closed beyound the SMA , lower BB - enough room , price was not in consolidation
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Read 1st post , if you don't understand something , then , ask a question
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