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Monthly Profit - Daily Trading using SMA

  • #3,781
  • Sep 21, 2016 6:14pm Sep 21, 2016 6:14pm
Quoting Shaun24
I know it has been said that E/U is sideways. However, when you look at where it bounced from. This looks like a really nice setup. Yellow is 200 SMA Because of this I one I will take this trade. {image}
Completely agreed with you thats why I also took this trade.
I Win, I Lose, It's my Job... And I Love it!
  • #3,782
  • Sep 21, 2016 6:25pm Sep 21, 2016 6:25pm
Quoting temporal
{quote} Hi Oddbjorg, Appreciate the response. The reason I asked is that UC clearly closed through the SMA5 the day before so this trade was against the rules, but a number of people were taking it.
Hello.
That candle had a small body and long wick.
Is that something to consider?
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #3,783
  • Sep 21, 2016 6:27pm Sep 21, 2016 6:27pm
Quoting Ghibli
{image}
Thank you Sir, here is the another account
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  • #3,784
  • Sep 21, 2016 6:27pm Sep 21, 2016 6:27pm
Quoting Aron12aron
I am still in audnzd is a lot of space for a uptrend
Agree. I came out this morning and went in again when I see thr resistance still far. Thanks
  • #3,785
  • Sep 21, 2016 6:28pm Sep 21, 2016 6:28pm
Hi Murksler,
Thanks for your detailed analysis. With a more curious observation, it appears EU still has a safe room for long, up to the upper band of your magenta trendlines-1.1245/1.1250, if it can break through the 1200 psychological level. Other factors that validate the long set up are- bounce off 200SMA, close above 200 EMA ,a bullish engulfing bar and close above daily pivot. Thanks
  • #3,786
  • Sep 21, 2016 6:30pm Sep 21, 2016 6:30pm
Quoting ola08
Master BK8. Can you please give your opinion on CadChf. Looks good for long. Thanks
Wick is the issue, thats why we did not consider, as per traditional approach some may say... wick is pushing upwards... but we do not consider any kind of wick at all.
  • #3,787
  • Sep 21, 2016 6:31pm Sep 21, 2016 6:31pm
Quoting Murksler
So here is my view on EU. Please ignore the TDI indicator on the bottom. First a wider view to get the whole picture: {image} If you look at the green channel you can see that we were in an up trend for a long time. But this week we broke out of the channel to the downside and a new smaller channel is forming with the potential to move the price down. If we take a closer look: {image} We will see that the two channels are crossing at around 1.12500 with a small resistance from previous candles, seen with the small dotted red line. We also see the...
Getting a little confusing me thinks.
  • #3,788
  • Sep 21, 2016 6:32pm Sep 21, 2016 6:32pm
Quoting josephkee
{quote} Agree. I came out this morning and went in again when I see thr resistance still far. Thanks
We do not do such things here
  • #3,789
  • Sep 21, 2016 6:40pm Sep 21, 2016 6:40pm
Quoting Bk8
{quote} Wick is the issue, thats why we did not consider, as per traditional approach some may say... wick is pushing upwards... but we do not consider any kind of wick at all.
Thanks Sir for the explanation. Well noted.
  • #3,790
  • Sep 21, 2016 6:43pm Sep 21, 2016 6:43pm
Quoting Bk8
{quote} Thank you Sir, here is the another account {image}
Healthy looking accounts Thank you for sharing

And for other traders - please don't think to much, when there is a good setup..I often use S/R ,but for many traders this can be very complicated a speccially Christmass trees on the charts It may be clear for us , but many of people when they are visiting this thread ,they can get very confused and get dicourage ..only few simple S/R will do fine..
Read 1st post , if you don't understand something , then , ask a question
  • #3,791
  • Sep 21, 2016 6:45pm Sep 21, 2016 6:45pm
Bk8
dr ur not use strong S\L leval look uc good stong rest i told 3.547 post
i am not hold yestaday focm news but ur method confim signal why u usdcad long bye think?
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  • #3,792
  • Sep 21, 2016 6:46pm Sep 21, 2016 6:46pm
Quoting Bk8
{quote} We do not do such things here
Master,
Reason why I got out is I got some 300 piP's from this pair. A mistaKe here because after I got out, I realise there is alot more room upstairs. I could have let the profit run or could have trail my stops. I trade live and that is quite a lump sum for me.
I am quite sure many of us do not wait for TP if we have profit enough pips. Thanks
  • #3,793
  • Sep 21, 2016 6:51pm Sep 21, 2016 6:51pm
The bottom line is, on any given trade you can probably find 10 reasons to take a trade, also 10 reasons to trade the other direction. Either you will follow the system the way it is intended, or you won't. We all trade at our own risk. The so called questionable trades, some will work, some won't, the same is so with the preferred trades. The ones that go in the direction that is wanted, we will here the I told you so, the trades that don't, we won't ever hear about again. One persons consolidation, the other could say it's about to break. One will be right one will be wrong. What we are trying to do here is follow the rules of the system. If you find a setup that is right for you, then take your trade. If you don't agree with the setups of the thread, that is okay too. There is really no reason to argue the points of each individual side, either take the trade, or don't. There is also no reason to start posting, or asking about what setup there might be until the end of the day, that is a major part of the system. Bk8 will post what is believed to be the best setup, if there is one. If you agree then take the trade, if not then pass, it's not the setup for you. But it is the best setup based on the system. I am not trying to offend anyone here especially Bk8, if I did I apologize. Some of this stuff is just not necessary.
Happy trading to all, and good luck
  • #3,794
  • Sep 21, 2016 6:52pm Sep 21, 2016 6:52pm
want to reply bk8 ur method good pls reply me
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  • #3,795
  • Sep 21, 2016 7:07pm Sep 21, 2016 7:07pm
Hi Folks
I need some enlightenment. I saw there is another thread of same strategy on one hour time frame crossing sma 5. I believe some of our active members on this thread are contributing to that thread.
Can anyone let me know if 1hr is also a valid strategy or are we keeping it separate for some reason?

Thanks
  • #3,796
  • Sep 21, 2016 7:11pm Sep 21, 2016 7:11pm
Quoting Heelfan23
The bottom line is, on any given trade you can probably find 10 reasons to take a trade, also 10 reasons to trade the other direction. Either you will follow the system the way it is intended, or you won't. We all trade at our own risk. The so called questionable trades, some will work, some won't, the same is so with the preferred trades. The ones that go in the direction that is wanted, we will here the I told you so, the trades that don't, we won't ever hear about again. One persons consolidation, the other could say it's about to break. One...
  • #3,797
  • Sep 21, 2016 7:13pm Sep 21, 2016 7:13pm
Quoting josephkee
Hi Folks I need some enlightenment. I saw there is another thread of same strategy on one hour time frame crossing sma 5. I believe some of our active members on this thread are contributing to that thread. Can anyone let me know if 1hr is also a valid strategy or are we keeping it separate for some reason? Thanks
Hi Josehkee,
This whole strategy is based on daily TF only.
Not only because it works but also requires only minutes a day to find and execute set ups. The rest of the day go fishing or golfing!!
Cheers
  • #3,798
  • Sep 21, 2016 7:19pm Sep 21, 2016 7:19pm
Quoting josephkee
Hi Folks I need some enlightenment. I saw there is another thread of same strategy on one hour time frame crossing sma 5. I believe some of our active members on this thread are contributing to that thread. Can anyone let me know if 1hr is also a valid strategy or are we keeping it separate for some reason? Thanks
Joseph, that is another system that Bk8 is working on. It takes a lot more, time, effort, and the rewards are not as promising... yet. It is still being refined. To me, this daily system (monthly profit) is much easier and much more profitable. Just my opinion.
  • #3,799
  • Sep 21, 2016 7:21pm Sep 21, 2016 7:21pm
Bk8,

This is quite an impressive method so far and I have looked a quite a few over the years.

I'm sharing a list of my open trades to encourage others. I have about 1800 or so pips in open positions, with nothing underwater. All trades shown are your system. I'm not taking profits. I'm trying to let winners run by trailing stops.

Thanks for your method and your continuing effort to help others.
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  • #3,800
  • Sep 21, 2016 7:28pm Sep 21, 2016 7:28pm
Quoting kenzz
Bk8, This is quite an impressive method so far and I have looked a quite a few over the years. I'm sharing a list of my open trades to encourage others. I have about 1800 or so pips in open positions, with nothing underwater. All trades shown are your system. I'm not taking profits. I'm trying to let winners run by trailing stops. Thanks for your method and your continuing effort to help others.{image}
Wow. Couple of questions:

1) By trailing stops do you mean trailing the previous days candle +15 pips as opposed to a trailing and constantly moving auto type?

2) Do you TP on the first trade 1:1?

Much thanks and great to see your results!
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