Monthly Profit - Daily Trading using SMA | Page 202 | Forex Factory

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Monthly Profit - Daily Trading using SMA

  • #4,021
  • Sep 22, 2016 5:51pm Sep 22, 2016 5:51pm
Meanwhile ..E/C +130 ,still running and feel quite good
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Read 1st post , if you don't understand something , then , ask a question
  • #4,022
  • Sep 22, 2016 5:54pm Sep 22, 2016 5:54pm
Quoting Singha83
How is everyone finding SMA crossover's? Looking at every single chart? Is there any script where when majority of the candle is greater than the 5 SMA, it automatically populates that chart on to your screen?
Yes. If you search through the thread, I think somebody attached a script to do that yesterday.
  • #4,023
  • Sep 22, 2016 5:56pm Sep 22, 2016 5:56pm
Quoting Bk8
Let me continue here.. so as per my list in last 3 weeks only one setup hit SL.., I think I am allowed to claim the same, right Sir ? {quote} Today I noticed that around 300 traders were online when we were discussing todays setups so we will come to know only when they announce... I am trying to publish official recommendations based on contributors inputs so that we can keep track of
Understood
Read 1st post , if you don't understand something , then , ask a question
  • #4,024
  • Sep 22, 2016 5:57pm Sep 22, 2016 5:57pm
Quoting Ghibli
{quote} Maybe because of the upper wick..but I personally took this trade, I think it has potential..
The wick is actually in our favour.

Shows that the Bulls were ready to take over but all the bears got scared and pulled out. After yesterdays candle we can clearly see that all the scared bears have now turned into bulls!
  • #4,025
  • Sep 22, 2016 5:57pm Sep 22, 2016 5:57pm
Quoting Bk8
{quote} I did not close, Sl was hit after 30 pips profit
Hey BK8,

I'm confused. Based off your rules, you should still be in this NU never came close to SL, and definitely not for profit. See below.
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  • #4,026
  • Sep 22, 2016 6:09pm Sep 22, 2016 6:09pm
nzd-cad. this office take it in my real account when I saw that price had hit a strong weekly resistance, leaving a large daily wick, not trying to confuse anyone, but it is good to know the patterns of candles, now I have closed because its lowered this braking for daily support. If price breaks daily support I'll upload the train that is BK8 amount. greetings to all and good trading.
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  • #4,027
  • Sep 22, 2016 6:10pm Sep 22, 2016 6:10pm
i dont understand why nobody picks audnzd i am already in big profit
  • #4,028
  • Sep 22, 2016 6:15pm Sep 22, 2016 6:15pm
Hi FX California, I tool GBPUSD also.

I have to say I have tried adding indicators for clarity, tried filtering etc., and the results do not compare. Somehow the simple "avoid sideways" is all you need. Bk8 is absolutely right I believe. With indicator filters etc, one ends up filtering out good trades that make the system profitable.
As far as filtering out trades during a consolidation market one just eye balls it and says, that's sideways or that's not sideways. I assume that the trader starts seeing sideways markets much easier as he/she gains experience with the system.
  • #4,029
  • Sep 22, 2016 6:18pm Sep 22, 2016 6:18pm
Quoting Aron12aron
i dont understand why nobody picks audnzd i am already in big profit
If rules of the strategy were followed. Should you not have been stopped out on this candle?

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  • #4,030
  • Sep 22, 2016 6:22pm Sep 22, 2016 6:22pm
Quoting Aron12aron
i dont understand why nobody picks audnzd i am already in big profit
aud-nzd, the correct entry was last Sep 19, if you open the transaction would have two options a total closure and partial closure second option, the price is hitting a high probability zone of resistance. a greeting...
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  • #4,031
  • Sep 22, 2016 6:34pm Sep 22, 2016 6:34pm
Quoting Shaun24
{quote} If rules of the strategy were followed. Should you not have been stopped out on this candle? {image}
I believe stop loss would have been at the bottom of previous candle, therefore would not have been reached.
  • #4,032
  • Sep 22, 2016 6:39pm Sep 22, 2016 6:39pm
Quoting Karemi-Trade
{quote} How many percent of your account will you lose if all 5 0.01 lots hit initial stop loss?
Actually just noticed that my risk management is very poor
Anyway its still 5% per trade so 25% total.But problem is that I made 2 position per pair so should be 10%risk per pair...lol
  • #4,033
  • Sep 22, 2016 6:42pm Sep 22, 2016 6:42pm
Quoting cesar8
nzd-cad. this office take it in my real account when I saw that price had hit a strong weekly resistance, leaving a large daily wick, not trying to confuse anyone, but it is good to know the patterns of candles, now I have closed because its lowered this braking for daily support. If price breaks daily support I'll upload the train that is BK8 amount. greetings to all and good trading. {image}
I too took this trade yesterday, coming off the highest high that the pair has made since 2014, but didn't hold price. This created a shooting star, that had a little follow through yesterday. I added these reasons to the divergence on the daily, and weekly TF. I then added those factors to the Bk8 system, gave me great confidence in shorting this pair. When everything lines up, we must trade!!! Result as of now, +65 pips.
  • #4,034
  • Sep 22, 2016 6:42pm Sep 22, 2016 6:42pm
Quoting Shaun24
{quote} If rules of the strategy were followed. Should you not have been stopped out on this candle? {image}
Hi
Don't quite understand your question. I am in audnzd and still making pips. In your chart the purple line is sma. If you have enter on the crossover there was never a bar that goes below the SL.
The other line is middle of BB. Not sure if you see the wrong line.
Thanks
  • #4,035
  • Sep 22, 2016 7:08pm Sep 22, 2016 7:08pm
Quoting josephkee
{quote} Hi Don't quite understand your question. I am in audnzd and still making pips. In your chart the purple line is sma. If you have enter on the crossover there was never a bar that goes below the SL. The other line is middle of BB. Not sure if you see the wrong line. Thanks
My explanation. correct me if i am wrong please

Enter on purple SMA cross
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Day 2 we move SL to 15 under previous candle.. Day 3 candles tail stops out the trade.
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  • #4,036
  • Sep 22, 2016 7:14pm Sep 22, 2016 7:14pm
Quoting Shaun24
{quote} My explanation. correct me if i am wrong please Enter on purple SMA cross {image} Day 2 we move SL to 15 under previous candle.. Day 3 candles tail stops out the trade. {image}
Understand your point of view , but maybe he set his Sl after he takes 1st TP -it's much higher than this pin bar..after that ,for the first time he moved the SL ,from the first candle ?..
Read 1st post , if you don't understand something , then , ask a question
  • #4,037
  • Sep 22, 2016 7:16pm Sep 22, 2016 7:16pm
Quoting Ghibli
{quote} Understand your point of view , but maybe he set his Sl after he takes 1st TP -it's much higher than this pin bar..after that ,for the first time he moved the SL ,from the first candle ?..
OK, so we are no longer moving SL by day. Only once it can be moved to a profit position? being the day 1 candle did not allow us to move SL to a break even position. we just leave the SL where it is untill we can break even?
  • #4,038
  • Sep 22, 2016 7:19pm Sep 22, 2016 7:19pm
Quoting Shaun24
{quote} OK, so we are no longer moving SL by day. Only once it can be moved to a profit position?
I think that we are moving SL ,only after 1st TP was hit..I am doing like that..don't know..the rules of TP and Sl are not so quite scrictly..Think even Bk8 is leaving sometimes some room for price "breathing"..
Read 1st post , if you don't understand something , then , ask a question
  • #4,039
  • Sep 22, 2016 7:37pm Sep 22, 2016 7:37pm
Quoting Ghibli
{quote} I think that we are moving SL ,only after 1st TP was hit..I am doing like that..don't know..the rules of TP and Sl are not so quite scrictly..Think even Bk8 is leaving sometimes some room for price "breathing"..

OK cool, i will start doing this next week

If nothing else. this example shows the importance of SL placement. A loss of 20pips. or a gain of 150+
  • #4,040
  • Sep 22, 2016 7:50pm Sep 22, 2016 7:50pm
morning all, just couldn't wake up from alarm.
A bit late but I'm in

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