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Monthly Profit - Daily Trading using SMA

  • #3,841
  • Sep 22, 2016 2:28am Sep 22, 2016 2:28am
Hi
I am all in green pips. Trades still running
EC 60 pips
Uc 60 pips
GU 30 pips
UC 45 pips.

Thanks
  • #3,842
  • Sep 22, 2016 2:49am Sep 22, 2016 2:49am
Quoting wma5612
Started S system ept. 2 with $5000 Impressive results. {image}
Hi wma (is not that i have doubt in BK8 sys im asking just for confirmation) are your trades open and close to these system rules thanc you
  • #3,843
  • Sep 22, 2016 2:54am Sep 22, 2016 2:54am
Quoting wma5612
Started Sept. 2 with $5000 Impressive results. {image}
\

Great to see! what % was your risk per trade?
  • #3,844
  • Sep 22, 2016 2:59am Sep 22, 2016 2:59am
Quoting Erebus
{quote} I second the motion, and trade more than 0.01 lots, teach position sizing to the new guys as well as the method can learn a lot from TE, will you cut the EURNZD soon? {image}
I admit that my position sizing and risk isn't correct for the account balance. I needed to use a real account to get myself in the correct mindset when making decisions. However, I will be funding a larger account shortly and using my tool to determine lot size based on risk appetite and SL value.

Using a £100 account and 0.01 lot size has worked fine though haha since the win rate is so good
So many in the Commercial section want to make me rich! :o
  • #3,845
  • Sep 22, 2016 3:05am Sep 22, 2016 3:05am
Quoting FX-Flux
Final version of the script for those of you who found it useful. DailyCross_V7 goes in Scripts folder template_name goes in mql4 folder Drop it on a chart when the new daily candle forms and it opens up every chart with a MA crossover. This will avoid any confusion for people asking about what MA settings to use. {file} {file}
Thanks a lot bro! It really saves time occasionally.
  • #3,846
  • Sep 22, 2016 3:19am Sep 22, 2016 3:19am
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}
That's great! I was curious about shifting the SL, I Notice on E/C you now have it at 1.4724, around 10 pips under the entry price. How did you choose that level for it?
  • #3,847
  • Edited 3:24am Sep 22, 2016 3:24am | Edited 3:24am
Quoting Brian214
{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

Further to my previous reply and suggestion to take 20 trades to test the method, here are 3 entries today only, albeit only the USDCAD was approved by BK8


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It takes a lot for me to IGNORE you, but you can try.
  • #3,848
  • Sep 22, 2016 3:31am Sep 22, 2016 3:31am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
I am recognizing that since the open is with two positions, the SL for both of them is always the same until the first position is closed with profit.

Am I right? Thanks!
  • #3,849
  • Sep 22, 2016 3:37am Sep 22, 2016 3:37am
Speaking of strong moves, this shows a 5 to 1 coming up soon

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It takes a lot for me to IGNORE you, but you can try.
  • #3,850
  • Sep 22, 2016 3:39am Sep 22, 2016 3:39am
Hi mates,

Can I shift my SL to Breakeven for EURUSD or WAIT for candle close?!

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Always confused when see this type of situation!
I Win, I Lose, It's my Job... And I Love it!
  • #3,851
  • Sep 22, 2016 3:57am Sep 22, 2016 3:57am
Quoting umairsheikh2
Hi mates, Can I shift my SL to Breakeven for EURUSD or WAIT for candle close?! {image} Always confused when see this type of situation!
wait, do not rush, let market do the things
  • #3,852
  • Edited 4:25am Sep 22, 2016 4:13am | Edited 4:25am
open positions, never seen anything like that, 1000+ pips profit now.
today we have news, let's see if they help.
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  • #3,853
  • Sep 22, 2016 5:08am Sep 22, 2016 5:08am
Hi , I'm newbie here and interested in the way you trade , may I know if you put the minimum and maximum stop loss for each entry ? or depends on last high low candle?
  • #3,854
  • Sep 22, 2016 5:08am Sep 22, 2016 5:08am
Quoting Erebus
{quote} Further to my previous reply and suggestion to take 20 trades to test the method, here are 3 entries today only, albeit only the USDCAD was approved by BK8 {image}
Hi Erebus,
Thanks for your help with that. I think it is probably just a confidence building thing. I will look at some more historical charts. One question do you put your stop 15 pips above the body of the candle as in the UC chart or above the wick as I understood it?
  • #3,855
  • Sep 22, 2016 5:29am Sep 22, 2016 5:29am
Quoting Brian214
{quote} Hi Erebus, Thanks for your help with that. I think it is probably just a confidence building thing. I will look at some more historical charts. One question do you put your stop 15 pips above the body of the candle as in the UC chart or above the wick as I understood it?
That's just a demo on tradingview, I put the trade on and the stop later; I looked at it and thought round number 1.32 is above 5 SMA, if it get back there, it's in trouble.

With real live account, PROPER position sizing calculation has to be done before entry, unless your account too small and just trading 0.01 anyway, so the stop loss has to be known.

So, that is very much an individual thing, write down a trading plan, some back or forward testing will help you gauge whether such a large stop loss is really required on some positions.

Good luck & good trading
It takes a lot for me to IGNORE you, but you can try.
  • #3,856
  • Sep 22, 2016 5:36am Sep 22, 2016 5:36am
Quoting monaghan
Morning All Long GBP Short NZ CAD {image} {image}
53 Pips banked on NZ CAD at Average Daily Range, 50 % of the trade left to run forever, closed GBP +20, not confident in GBP today, i normally don't trade that pair
  • #3,857
  • Sep 22, 2016 5:40am Sep 22, 2016 5:40am
Quoting Erebus
Speaking of strong moves, this shows a 5 to 1 coming up soon {image}
Hi Erebus,

Would you mind sharing what makes you THAT sure that you can forecast a 5 : 1 at this stage already? Impending BB ahead?
Thank you for replying.
Hercs
  • #3,858
  • Sep 22, 2016 5:45am Sep 22, 2016 5:45am
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  • #3,859
  • Sep 22, 2016 5:47am Sep 22, 2016 5:47am
alert on guys stong demand GJ green pip 500 700 target entry
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  • #3,860
  • Sep 22, 2016 6:00am Sep 22, 2016 6:00am
Quoting Smurfy
{quote} Sorry boss, done deleted. Use tis see e broker interest. {image}
Thank you Sir, appreciate it!
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