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Monthly Profit - Daily Trading using SMA
{quote} Thanks for sharing, Bestof27!! G/CHF, second position is running since 8 Sept{image}
I see you have not moved the SL in a while. Any comments on that?
[quote=yonnie;9153526]I`ve been trading since 1998 and can see a winning system when I see one. thank you Bk8!
[uote]1998.....wow...some of us were barely just in elementary sch.. Thanks for all the expert insight.
[uote]1998.....wow...some of us were barely just in elementary sch.. Thanks for all the expert insight.
- #3,670
- Sep 21, 2016 2:28pm Sep 21, 2016 2:28pm
- Joined Jul 2011 | Status: Gold Again | 10,601 Posts
It takes a lot for me to IGNORE you, but you can try.
- #3,672
- Sep 21, 2016 2:31pm Sep 21, 2016 2:31pm
- | Membership Revoked | Joined Mar 2016 | 1,615 Posts
How is that an early entry?
There is clearly a close below the 5 SMA, maybe not clearly crossed by much but an opposite signal, at least warning for exit if not trade
- #3,675
- Sep 21, 2016 2:46pm Sep 21, 2016 2:46pm
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,682 Posts
can you explain why its too late? i thought a open is made on the candle following the candle that just peirced the 5 sma?
- #3,676
- Sep 21, 2016 2:47pm Sep 21, 2016 2:47pm
- Joined Jul 2011 | Status: Gold Again | 10,601 Posts
{quote} Thanks for your response. My problem with that calculation is that typically on daily candles your SL+15 pips will leave you with a minimum 80 pips and up to 250 pips so you would need a very strong move to get 1:1 on that for your first exit
You imply that the Forex market doesn't move in strong moves.
Are you not willing to do the work of visually back testing this for 10 trades to find if the first exit can be hit before questioning the method.
In fact, you should do the Mark Douglas experiment, forward test it!
Write down the trading rules, using a demo account, take 20 trades flawlessly, according to the rules, do not use discretion.
At the end of the 20 trades you will have your answer, does the method work or did you change something?
Please report back your findings, it will be immensely useful for the 1,000 new users that will be here by then, asking the very same question.
On another note, by the number queries about entry signals, it seems to me that people think this is a scalping day trade strategy ??
It's not folks, it's a swing strategy, be patient, be prepared to find an entry at a swing high or low, then hang on to it, even add to if going good.
You only have to look at the GBP-AUD, over 500 pips, concentrate on just 1 of those and don't worry about having the most pips to brag about.
Hope that helps
It takes a lot for me to IGNORE you, but you can try.
- #3,677
- Sep 21, 2016 2:49pm Sep 21, 2016 2:49pm
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,682 Posts
Hello everybody first of all, thank of all of you for this thread. Do you think it is a good opportunity for tomorrow? Thank you {image}
- #3,678
- Sep 21, 2016 2:50pm Sep 21, 2016 2:50pm
{quote} Hi Singha83 Gold is the hardest instrument to start trading with see something else from curency pair.... these big candle opens road for tomoro buy maybe wait till tomorow...
Yes why not logic is 100% ok. I already take position
Any broker, same result
