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Monthly Profit - Daily Trading using SMA

  • #3,401
  • Sep 20, 2016 1:30pm Sep 20, 2016 1:30pm
Quoting MrRijk
{quote} Entry When previous daily candle has clearly crossed SMA line Candle should not touch then upper BB line (Optional) Stop Loss high(+15 Pips)/low(-15 Pips) of previous candle, if candle is too short then you may move to T-2 candle.
Right on! Thank you.
  • #3,402
  • Sep 20, 2016 1:45pm Sep 20, 2016 1:45pm
Quoting shimmering
{quote} I saw that today's candle on U/C has pierced down the SMA, so I posted the chart. As per your post, piercing is enough, so there is no confusion on my part. I took the trade already, as I thought it is a good R;R.
The candle should CLEARLY CROSS the candle and close above /below the SMA . Thats it..it's not rocket science, please don't force yourself, to always be in some kind of position. Be patience and stick to the rules, otherwise you will get burn .
Read 1st post , if you don't understand something , then , ask a question
  • #3,403
  • Sep 20, 2016 1:45pm Sep 20, 2016 1:45pm
Quoting goldgirl
{quote} According to BK system, stoploss for EC should be at 1.4882
Hiya GoldGirl and others.
Am at a bit of a loss here, please see the attached pic. A lot of people are saying they are still in EC, can't figure out how that can be and also where the 1.4882 came from. Could it be timezone? My new candle starts at 10pm (to sync with 5pmEST BK8's timing.

Both my EC's stopped out. They almost hit the first TP but didn't quite make it.

Hope someone can advise.

Much thanks

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  • #3,404
  • Sep 20, 2016 1:46pm Sep 20, 2016 1:46pm
EURCAD update.

So you guys were worried.
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  • #3,405
  • Sep 20, 2016 1:48pm Sep 20, 2016 1:48pm
Quoting Ghibli
{quote} The candle should CLEARLY CROSS the candle and close above /below the SMA . Thats it..it's not rocket science, please don't force yourself, to always be in some kind of position. Be patience and stick to the rules, otherwise you will get burn .
Hi Ghibil
Just a quick question, what if if crosses the wick clearly?
  • #3,406
  • Sep 20, 2016 1:50pm Sep 20, 2016 1:50pm
So this is how it look right now - E/N +110 ( first pos. closed with +150 or something ) and E/C is right now + 7

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Attached Image
Read 1st post , if you don't understand something , then , ask a question
  • #3,407
  • Sep 20, 2016 1:53pm Sep 20, 2016 1:53pm
Quoting onarticus
{quote} Hi Ghibil Just a quick question, what if if crosses the wick clearly?
this is post 1 . I think the wick is part of the candle. If you see wick on the other side of the MA, then it has clearly crossed it.
Attached Image
  • #3,408
  • Sep 20, 2016 1:53pm Sep 20, 2016 1:53pm
Quoting onarticus
{quote} Hi Ghibil Just a quick question, what if if crosses the wick clearly?
Hi, it's a good question,the wick does not count ,it can touch the SMA but only when it closes D1 above/below SMA - ( that means the body of the candle ) it's a setup
Read 1st post , if you don't understand something , then , ask a question
  • #3,409
  • Sep 20, 2016 1:54pm Sep 20, 2016 1:54pm
Quoting shimmering
{quote} I saw that today's candle on U/C has pierced down the SMA, so I posted the chart. As per your post, piercing is enough, so there is no confusion on my part. I took the trade already, as I thought it is a good R;R.
please read post#1 and let me know if anything confusing.
  • #3,410
  • Sep 20, 2016 1:55pm Sep 20, 2016 1:55pm
Quoting Ghibli
{quote} Hi, it's a good question,the wick does not count ,it can touch the SMA but only when it closes D1 above/below SMA - ( that means the body of the candle ) it's a setup
  • #3,411
  • Sep 20, 2016 1:56pm Sep 20, 2016 1:56pm
Attached Image (click to enlarge)
Click to Enlarge Name: fgnfgnfn.png Size: 25 KB
Read 1st post , if you don't understand something , then , ask a question
  • #3,412
  • Sep 20, 2016 2:00pm Sep 20, 2016 2:00pm
Quoting hammadshahir
EURCAD update. So you guys were worried. {image}
Great , Thanks for sharing the results
Read 1st post , if you don't understand something , then , ask a question
  • #3,413
  • Sep 20, 2016 2:02pm Sep 20, 2016 2:02pm
Quoting hammadshahir
{quote} It really doesn't qualify for short today but it's unfolding, we have to wait till market close.
Why wait for market close, to have a lower entry? It does not make sense, when there's been a top formed. My trade is half way to Tp already.
  • #3,414
  • Sep 20, 2016 2:08pm Sep 20, 2016 2:08pm
Quoting Ghibli
{image}
Attached Image (click to enlarge)
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  • #3,415
  • Sep 20, 2016 2:09pm Sep 20, 2016 2:09pm
Quoting onarticus
{quote} Hiya GoldGirl and others. Am at a bit of a loss here, please see the attached pic. A lot of people are saying they are still in EC, can't figure out how that can be and also where the 1.4882 came from. Could it be timezone? My new candle starts at 10pm (to sync with 5pmEST BK8's timing. Both my EC's stopped out. They almost hit the first TP but didn't quite make it. Hope someone can advise. Much thanks {image}
Your stoploss should have been +15 pips above the high of the candle to the left of the arrow in your pic.
  • #3,416
  • Sep 20, 2016 2:11pm Sep 20, 2016 2:11pm
Quoting onarticus
{quote} {image}
Yes indeed
Read 1st post , if you don't understand something , then , ask a question
  • #3,417
  • Sep 20, 2016 2:15pm Sep 20, 2016 2:15pm
Quoting shimmering
{quote} Why wait for market close, to have a lower entry? It does not make sense, when there's been a top formed. My trade is half way to Tp already.
Sometimes I don't wait. I'm already short USDCAD but I know the reason why I did short it.

Dear shimmering, it always good to enter trade with some rules. When Price crosses SMA5, it gives us confirmation and a clear pattern. We know that this trade will work out. It's not a pullback or fake out. We want to be mechanical and not gamble. That's what this simple strategy is trying - to make us a disciplined trader!!

But you can enter trade with the trend, e.g GBPAUD - guys took entry before the market close.

Im using mobile else I could give you some examples with charts. But look at one chart - NZDCAD or USDCAD. Ignore today's candle and tell me where did you find the top?

I know many traders from other threads they got burned because they "predicted" the TOP!

we are not predicting anything. We want to be mechanical. Trade with a clear strategy.

Thats why we sacrifice our today for tomorrow.
  • #3,418
  • Sep 20, 2016 2:16pm Sep 20, 2016 2:16pm
Quoting Zimbeto
{quote} Your stoploss should have been +15 pips above the high of the candle to the left of the arrow in your pic.
Hey Zimbeto (lovely name),

Is that because Monday's wick wasn't big as per the rules?

  1. high(+15 Pips)/low(-15 Pips) of previous candle, if candle is too short then you may move to T-2 candle


That leads me on to another question, long wicks are bad? So for a sell, a long wick to the top is bad? Or a long wick to the bottom? Or both?

I really want to crack this, and my two days trading this system hasn't been too good so hope my questions aren't frustrating for peeps.

  • #3,419
  • Sep 20, 2016 2:21pm Sep 20, 2016 2:21pm
I wanted to make my first trade with the system, but i can't find good picks. AUD/USD?
  • #3,420
  • Sep 20, 2016 2:23pm Sep 20, 2016 2:23pm
Quoting onarticus
{quote} Hey Zimbeto (lovely name), Is that because Monday's wick wasn't big as per the rules? high(+15 Pips)/low(-15 Pips) of previous candle, if candle is too short then you may move to T-2 candle That leads me on to another question, long wicks are bad? So for a sell, a long wick to the top is bad? Or a long wick to the bottom? Or both? I really want to crack this, and my two days trading this system hasn't been too good so hope my questions aren't frustrating for peeps.
Very long upper wicks while you want to buy are not good and vice versa , but not always..we don't have a policy that for example if the upper wick has 20-30 pips we are in and if it has 50-6- we don't..if you don't like the very long wick ,you can leave that pair and stick to the another one
Read 1st post , if you don't understand something , then , ask a question
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