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Monthly Profit - Daily Trading using SMA

  • #4,381
  • Sep 25, 2016 4:00pm Sep 25, 2016 4:00pm
Quoting FX-Flux
Quite soon i will be putting a larger sum of money into my account. So far I've used 0.01 lots for each trade on my 100 test account. I can't expect this sort of risk be acceptable on a larger account, so I'm trying to add to my script i provided earlier, so that that it will display the lot size you should trade based on your level of risk. BK8 recommends that you don't risk more that 5% per trade, so i thought it would be handy to show what the lot size would be based on the stop loss being +/- 15 pips either side of the High/Low of the previous...
Perfect, would really benefit from that too, lots
  • #4,382
  • Sep 25, 2016 4:13pm Sep 25, 2016 4:13pm
still hold AUDCHF position long
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  • #4,383
  • Sep 25, 2016 4:14pm Sep 25, 2016 4:14pm
Quoting PipThePanda
Hi, How do you guys manage the high spread at the times where the new candle forms? Thanks!
good question, I also have large spreads at the beginning of the new candle...
  • #4,384
  • Sep 25, 2016 4:15pm Sep 25, 2016 4:15pm
Quoting yonnie
{quote} you`re not scared of the large wick and small candle of A/CH compared to N/CH for instance?
thats correct yonnie, wick and small candle makes this setup 70% chances vs 99%.
  • #4,385
  • Sep 25, 2016 4:19pm Sep 25, 2016 4:19pm
a big thank you to all those people who did not post 6-10 trades to take this time.
was a bit rude before to call you dumb and all that jazz.
just hoping you all get profitable soon
  • #4,386
  • Sep 25, 2016 4:19pm Sep 25, 2016 4:19pm
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}


Fx Flux ... I noticed this did not open the EUR/JPY chart. Did E/J chart show up for you?
I love forex. One day it will love me back.
  • #4,387
  • Sep 25, 2016 4:19pm Sep 25, 2016 4:19pm
Quoting hrvoje
{quote} I read the whole thread, I would still like to know how you got to 70% chance.
Suppose perfect setup has 99% chances as per rules then todays setups have 70% chances.
  • #4,388
  • Sep 25, 2016 4:23pm Sep 25, 2016 4:23pm
EUR/GBP looks to be a long.
I love forex. One day it will love me back.
  • #4,389
  • Sep 25, 2016 4:24pm Sep 25, 2016 4:24pm
Quoting PipThePanda
Hi, How do you guys manage the high spread at the times where the new candle forms? Thanks!
I place buy/sell limits. just now with E/J I placed a buy limit @ the closing price of last Friday and price came back to 113.41 and triggered my order.
sometimes though you have to bite the bullet to get onto a run-away train if you dont want to miss out.
  • #4,390
  • Sep 25, 2016 4:26pm Sep 25, 2016 4:26pm
Quoting Singha83
EUR/GBP looks to be a long.
it is too close to top BB
Attached Image
  • #4,391
  • Sep 25, 2016 4:29pm Sep 25, 2016 4:29pm
Quoting Singha83
EUR/GBP looks to be a long.
Not with this strategy
Read 1st post , if you don't understand something , then , ask a question
  • #4,392
  • Sep 25, 2016 4:32pm Sep 25, 2016 4:32pm
Quoting Ghibli
{quote} Not with this strategy

Can you explain? Is it because its too close to the upper BB (though the rule states it should not touch)?
I love forex. One day it will love me back.
  • #4,393
  • Sep 25, 2016 4:39pm Sep 25, 2016 4:39pm
Quoting yonnie
{quote} I place buy/sell limits. just now with E/J I placed a buy limit @ the closing price of last Friday and price came back to 113.41 and triggered my order. sometimes though you have to bite the bullet to get onto a run-away train if you dont want to miss out.
thanks for the answer yonnie, but the spread is the same if I take a limit order, still very high...
  • #4,394
  • Sep 25, 2016 4:43pm Sep 25, 2016 4:43pm
Quoting Singha83
{quote} Can you explain? Is it because its too close to the upper BB (though the rule states it should not touch)?
Look at the chart, good looking setup looks like this one in the circle..strong downtrend and pullback momentum ,that crosses SMA after this downtrend..and it's close to the lower BB..now , we have an uptrend and there was only few days with sideways, but nothing major..the propper entry to this trend should be at that candle in the circle..also ,now the price is touching the higher BB
Attached Image
Read 1st post , if you don't understand something , then , ask a question
  • #4,395
  • Sep 25, 2016 4:44pm Sep 25, 2016 4:44pm
Quoting Forex Lion
{quote} thanks for the answer yonnie, but the spread is the same if I take a limit order, still very high...
Look out with pending orders , because it can trigger your order ,very shortly after "new day candle "and the spread will be still very high
Read 1st post , if you don't understand something , then , ask a question
  • #4,396
  • Sep 25, 2016 4:52pm Sep 25, 2016 4:52pm
Quoting Forex Lion
{quote} thanks for the answer yonnie, but the spread is the same if I take a limit order, still very high...
sorry, but it seems your limit order is not my limit order.
when I place a pending limit order @ 113.41 I can only buy @ 113.41 or lower with my broker.
actually my buy limit order worked out a little cheaper and got filled @ 113.404
maybe some brokers dont have the real limit orders.
  • #4,397
  • Sep 25, 2016 4:55pm Sep 25, 2016 4:55pm
Quoting Ghibli
{quote} Look at the chart, good looking setup looks like this one in the circle..strong downtrend and pullback momentum ,that crosses SMA after this downtrend..and it's close to the lower BB..now , we have an uptrend and there was only few days with sideways, but nothing major..the propper entry to this trend should be at that candle in the circle..also ,now the price is touching the higher BB {image}

Very clear explaining. Thanks Ghibli!
I love forex. One day it will love me back.
  • #4,398
  • Sep 25, 2016 4:55pm Sep 25, 2016 4:55pm
Quoting Bk8
{quote} Today's Setups (chances 70%) Long EUR/JPY Short A/CHF Good Luck!
Fridays both setups are profitable now, you may like to close first position to minimize the risk.
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  • #4,399
  • Sep 25, 2016 4:58pm Sep 25, 2016 4:58pm
Quoting Singha83
{quote} Very clear explaining. Thanks Ghibli!
No prob Singha I'm glad I could help
Read 1st post , if you don't understand something , then , ask a question
  • #4,400
  • Sep 25, 2016 4:58pm Sep 25, 2016 4:58pm
Quoting Singha83
{quote} Can you explain? Is it because its too close to the upper BB (though the rule states it should not touch)?
Hello. Not a good set up because of upper bb, even sma crosses nicely friday's candle. This is what I thouhgt when I went through the pairs today. The professionals will propaply advise better.
Kindly
Oddbj
All the best to all of you. But don't follow me. I am a learner.
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