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Monthly Profit - Daily Trading using SMA

  • #4,141
  • Sep 23, 2016 6:53am Sep 23, 2016 6:53am
Hi everyone and thanks a million dear Bk8!

I have been trading your strategy for the last 3 weeks now with an unbelievable and never achieved before rate of success, after having tried (very likely like most of us here) dozens of different strategies.
Not only is this system giving me the highest rate of return and successfull trades but also with the lowest amount of time involved to identify the setups and running the daily follow-up.
I just can't explain the relief I feel to have the luck of having found this thread. You really deserve a big aplause for sharing this.

Nevertheless we must not forget that there are always unexpected news that rocks eveyrthing upside down.
Thanks to Boris Johnson's headlines on the Brexit process released today GU (GBPUSD) has sharply reversed. However sticking to the S/L rule of +/- 15 pips my trade is still alive as long as the pair does not retrace to 1.2929.

Happy trading to all.
I used to be indecisive but now I'm not so sure...
  • #4,142
  • Sep 23, 2016 6:55am Sep 23, 2016 6:55am
Quoting sitetalker
Hello Bk8, Can we enter buy in GbpNzd right now because the current price came down from the opening price.
Your call, if want to follow rules then answer is NO but fx-flux is a smart trader so if he has given hint.... you may take a look

See whoever has taken position last night, will wait till SL today so if you want to join us.. more than welcome
  • #4,143
  • Sep 23, 2016 6:58am Sep 23, 2016 6:58am
Thank you very much fo your feedback... please note you may not see G/U in the performance report published everyday around 5 PM EST since official recommendation did not have G/U in the list.

Quoting Filipo1
Hi everyone and thanks a million dear Bk8! I have been trading your strategy for the last 3 weeks now with an unbelievable and never achieved before rate of success, after having tried (very likely like most of us here) dozens of different strategies. Not only is this system giving me the highest rate of return and successfull trades but also with the lowest amount of time involved to identify the setups and running the daily follow-up. I just can't explain the relief I feel to have the luck of having found this thread. You really deserve a big...
  • #4,144
  • Sep 23, 2016 6:59am Sep 23, 2016 6:59am
Quoting monaghan
{quote} There you go Yonnie just closed all positions for the week, just my perspective, this account live for testing the BK8 system, all the best {image}
is that profit from trading 6-10 new entries every day?
  • #4,145
  • Sep 23, 2016 7:00am Sep 23, 2016 7:00am
Quoting Bk8
{quote} Your call, if want to follow rules then answer is NO but fx-flux is a smart trader so if he has given hint.... you may take a look See whoever has taken position last night, will wait till SL today so if you want to join us.. more than welcome
ok that is very much fine
So we should need to wait for a fresh signal in this case.

Thank you for your suggestion
  • #4,146
  • Sep 23, 2016 7:01am Sep 23, 2016 7:01am
Quoting MrRijk
{quote} Ah.. , You know what i mean.! Right
Let Market Tell You
  • #4,147
  • Sep 23, 2016 7:06am Sep 23, 2016 7:06am
Quoting yonnie
{quote} is that profit from trading 6-10 new entries every day?
No Yonnie
thats a total of 5 trades i just closed out NZ CAD for a total of 138 pips for the week, i get the jitters staying in over the weekend, i only realized after i posted about the 6 to 10 entries, my mistake, even i make them
  • #4,148
  • Sep 23, 2016 7:08am Sep 23, 2016 7:08am
Quoting Bk8
Thank you very much fo your feedback... please note you may not see G/U in the performance report published everyday around 5 PM EST since official recommendation did not have G/U in the list. {quote}
bk8 Chief, you deserve more then that. heats off to u
  • #4,149
  • Sep 23, 2016 7:12am Sep 23, 2016 7:12am
Quoting Bk8
Thank you very much fo your feedback... please note you may not see G/U in the performance report published everyday around 5 PM EST since official recommendation did not have G/U in the list. {quote}
Bk8 , would you mind explaining us what you saw that dissuaded you from entering the trade please, like sideways price action or something?
I used to be indecisive but now I'm not so sure...
  • #4,150
  • Sep 23, 2016 7:18am Sep 23, 2016 7:18am
Quoting monaghan
{quote} No Yonnie thats a total of 5 trades i just closed out NZ CAD for a total of 138 pips for the week, i get the jitters staying in over the weekend, i only realized after i posted about the 6 to 10 entries, my mistake, even i make them
ok, good on you for your profit though.

I see so many people day after day entering 6-10 trades a day, gold and silver, JPY - you name it, they`re into it.
trigger happy.
I could even name them by just going back a few pages.........
so who of all those boys and girls are profitable?
  • #4,151
  • Sep 23, 2016 7:20am Sep 23, 2016 7:20am
I'm trading conservative, and have had another great week.

last week +292 pips, this week thus far with open trades still running +350 pips.

Still loving it. After a couple weeks more testing, i will start with live account.
Persistence will get it. Consistency will keep it.
  • #4,152
  • Sep 23, 2016 7:21am Sep 23, 2016 7:21am
Quoting yonnie
{quote} ok, good on you for your profit though. I see so many people day after day entering 6-10 trades a day, gold and silver, JPY - you name it, they`re into it. trigger happy. I could even name them by just going back a few pages......... so who of all those boys and girls are profitable?
Not many, if not none.
Persistence will get it. Consistency will keep it.
  • #4,153
  • Sep 23, 2016 7:21am Sep 23, 2016 7:21am
Hi Bk8,

can you please elaborate on why you think EUR/GBP was not a good trade? As I see it, it was close to upper BB and crossing SMA. The bad thing was the upcoming news.

Thanks,
Hrvoje
#noFomo
  • #4,154
  • Sep 23, 2016 7:26am Sep 23, 2016 7:26am
Quoting hrvoje
Hi Bk8, can you please elaborate on why you think EUR/GBP was not a good trade? As I see it, it was close to upper BB and crossing SMA. The bad thing was the upcoming news. Thanks, Hrvoje
4 candles sideways, also small break off SMA. Compare with candle off 09-07 that's a great break off SMA an no sideway candles before.
Only take the best setups you can find, ask with all setups what reason can i find NOT to take the trade.
If you can find one reason, don't take it, there are plenty opportunities, don't be trigger happy, stay patient.
Persistence will get it. Consistency will keep it.
  • #4,155
  • Sep 23, 2016 7:29am Sep 23, 2016 7:29am
Quoting Chake
{quote} Not many, if not none.
but dont you think that`s quite dumb to say the least, when you can learn how to read a chart properly?
and failing that just follow Bk8 guidance?
proof of very good profits has been all over the place from other peope than Bk8.
cant understand it and such a lost opportunity
  • #4,156
  • Sep 23, 2016 7:39am Sep 23, 2016 7:39am
Quoting yonnie
{quote} but dont you think that`s quite dumb to say the least, when you can learn how to read a chart properly? and failing that just follow Bk8 guidance? proof of very good profits has been all over the place from other peope than Bk8. cant understand it and such a lost opportunity
It's a journey, a long road everyone has to travel. I think there is no shortcut, even with guidance every new trader has to learn from his own mistakes.
It takes years to become profitable, and you have to learn yourself. There has been 100's or even thousands off great systems on FF but there are only a few who manage to succeed.
Persistence will get it. Consistency will keep it.
  • #4,157
  • Sep 23, 2016 7:39am Sep 23, 2016 7:39am
Quoting yonnie
{quote} ok, good on you for your profit though. I see so many people day after day entering 6-10 trades a day, gold and silver, JPY - you name it, they`re into it. trigger happy. I could even name them by just going back a few pages......... so who of all those boys and girls are profitable?
Thanks Yonnie
just to add i think many of them are trading Demo, i used to hate trading Demo as i used to do the same thing, i ended up just gambling, no disrespect intended to anybody trading Demo, its only for learning MT4 Platform thats all
all the best
  • #4,158
  • Sep 23, 2016 7:41am Sep 23, 2016 7:41am
bad news with CAD.
looks like reversal news so I got out of all CAD positions.
  • #4,159
  • Sep 23, 2016 7:41am Sep 23, 2016 7:41am
GU buy trade

Most traders only posts winners and not losers so here is a losing trade that hit my SL on 2 positions. It's not a big deal because there is no holy grail and there will be losers. Looking back, I can usually tell why a trade was a good pick or bad pick.

Take a look at my chart. These are supply and demand zones in the shades areas with blue circles. I drew these previously before price touched these areas. I took a buy at the green line and SL was the red line.

Reasons why I took the trade:

1- price touched the demand zone below 2 days in a row and bounced off.
2- price touched the bottom BB and bounced off.
3- price closed over the 5 SMA
4- appeared to be good RR
5- fear of missing out on a trade for the day

Reasons why I should NOT have entered:

1- I was driving down the highway at 80 MPH when I took this trade Without much thought
2- fear of missing out on a trade for the day so I took this one quickly
3- the daily candle closed with a large bearish wick/tail
4- price was entering back into a previous demand zone which would slow down the momentum needed for this system to be effective.
5- I did not review all SMA crosses of the day and analyze to decide which would be the best setups.

There you go. No big deal, you will have losers, but hopefully other traders can learn why you should have good reasons to enter any trade and why we always need to be looking for an edge when we decide to put money in a trade! BK8's strategy is killer and so simple to use if we follow the plan and use sound money management and obey our trade plan!
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  • #4,160
  • Sep 23, 2016 7:45am Sep 23, 2016 7:45am
Quoting monaghan
{quote} Thanks Yonnie just to add i think many of them are trading Demo, i used to hate trading Demo as i used to do the same thing, i ended up just gambling, no disrespect intended to anybody trading Demo, its only for learning MT4 Platform thats all all the best
ah, that`s right, forgot about those demo accounts. just fooling around aye
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