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Monthly Profit - Daily Trading using SMA

  • #4,521
  • Sep 26, 2016 9:11am Sep 26, 2016 9:11am
Quoting josephkee
{quote} Your chart does not look right. Is your GMTt2. Ny closed 5pm?
Mine broker is gmt-5. Should I do any adjustments?
Thank you
  • #4,522
  • Sep 26, 2016 9:42am Sep 26, 2016 9:42am
Quoting josephkee
{quote} Your chart does not look right. Is your GMTt2. Ny closed 5pm?
My broker mt4 market watch says I am on NY time.
Can I still use the day candle as originally advised?

Thank you
  • #4,523
  • Sep 26, 2016 9:57am Sep 26, 2016 9:57am
Quoting haemdoc
{quote} My broker mt4 market watch says I am on NY time. Can I still use the day candle as originally advised? Thank you
Yes, it should just be when the time in your Market Watch window hits 00:00:00 (it is for me) for me in the UK that is 10pm
So many in the Commercial section want to make me rich! :o
  • #4,524
  • Sep 26, 2016 10:31am Sep 26, 2016 10:31am
My sincere gratitude to Bk8 and all of the other senior members who contribute to this thread. Thank you!

The cost of this system is the time you (should) spend reading the entire thread. Once you do you will know simple things like shift 0 not 3. You will have a pretty good idea of what a sideways market looks like from the countless times these folks have answered this question with both pictures and words. You will be sharp on when is the right time to enter per your chart, etc. All of these things come naturally when you read the entire thread. There are no shortcuts.

Reading the entire thread and not asking questions which have already been answered is the way to show the creator your gratitude for sharing the system. Saying "thank you" only requires 9 keystrokes if you count the space bar. Geez!

Now, I do have a question which I don't think has been sufficiently flushed out. haemdoc just touched on it.

I know most of the folks here trade at the NY close D1 candle.

So my question is:

Do we know if there is a measured benefit from trading the NY close D1 candle vs. the NY Midnight D1 candle?

(I don't think so personally. I think this system is good and will carry success regardless but I must allow room for input, and I don't think this has been discussed in depth.)

I am interested in Bk8's thoughts on this as well as everyone else's input in this matter.

Thank you again and good trading to everyone.-
Don't look down when learning to fly.
  • #4,525
  • Sep 26, 2016 10:32am Sep 26, 2016 10:32am
GBP CAD on my chart is shaping up for a buy ??? i think
  • #4,526
  • Sep 26, 2016 10:37am Sep 26, 2016 10:37am
Quoting Platanero
My sincere gratitude to Bk8 and all of the other senior members who contribute to this thread. Thank you! The cost of this system is the time you (should) spend reading the entire thread. Once you do you will know simple things like shift 0 not 3. You will have a pretty good idea of what a sideways market looks like from the countless times these folks have answered this question with both pictures and words. You will be sharp on when is the right time to enter per your chart, etc. All of these things come naturally when you read the entire thread....
Hi Platanero
i think i have as much success as anyone else and i trade GMT -5, some days the signals are clearer GMT +2, other days GMT -5
all the best
  • #4,527
  • Sep 26, 2016 10:37am Sep 26, 2016 10:37am
Yep, G/C looking real good for a buy.
  • #4,528
  • Sep 26, 2016 10:50am Sep 26, 2016 10:50am
Quoting monaghan
{quote} Hi Platanero i think i have as much success as anyone else and i trade GMT -5, some days the signals are clearer GMT +2, other days GMT -5 all the best
Thank you Sir.

I thought this would be the case.
Don't look down when learning to fly.
  • #4,529
  • Sep 26, 2016 11:10am Sep 26, 2016 11:10am
erujpy sideway going
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  • #4,530
  • Sep 26, 2016 11:38am Sep 26, 2016 11:38am
Quoting monaghan
GBP CAD on my chart is shaping up for a buy ??? i think
Is it ok to not bother about the tail of the candle? If not, this should work well.
  • #4,531
  • Sep 26, 2016 11:43am Sep 26, 2016 11:43am
Quoting saranga
erujpy sideway going {image}
Ha ha.. I almost forgot that we had ever bad setups...I do not want to make a habit of picking setups having 99% chances. This way we will have only few setups per week. I am still positive until setups trigger SL

I hope, most of our traders closed first position of G/N and N/CAD when setups were profitable and I sent reminder as well.
  • #4,532
  • Sep 26, 2016 11:48am Sep 26, 2016 11:48am
Quoting saranga
erujpy sideway going {image}
Yes she has betrayed us
  • #4,533
  • Sep 26, 2016 12:32pm Sep 26, 2016 12:32pm
Quoting Bk8
{quote} Ha ha.. I almost forgot that we had ever bad setups...I do not want to make a habit of picking setups having 99% chances. This way we will have only few setups per week. I am still positive until setups trigger SL I hope, most of our traders closed first position of G/N and N/CAD when setups were profitable and I sent reminder as well.
If you set TP1 at -SL you wouldn't close first position for GN & NCAD.... or I m missing something....
  • #4,534
  • Sep 26, 2016 12:37pm Sep 26, 2016 12:37pm
Quoting Bk8
{quote} Ha ha.. I almost forgot that we had ever bad setups...I do not want to make a habit of picking setups having 99% chances. This way we will have only few setups per week. I am still positive until setups trigger SL I hope, most of our traders closed first position of G/N and N/CAD when setups were profitable and I sent reminder as well.
Hi BK8
The last two Sunday Monday's has produced hundreds of pips, no one can complain if a trade goes sideways now and again, its been great and i thank you
  • #4,535
  • Sep 26, 2016 1:13pm Sep 26, 2016 1:13pm
Quoting Bk8
{quote} Ha ha.. I almost forgot that we had ever bad setups...I do not want to make a habit of picking setups having 99% chances. This way we will have only few setups per week. I am still positive until setups trigger SL I hope, most of our traders closed first position of G/N and N/CAD when setups were profitable and I sent reminder as well.
yesterday i was thinking we had better chance in usdcad, infect the uptrend has been started in usdcad and we were in counter trend in eurjpy but i avoided due to chief advise. Any way this the part of game that's how we can learn with each other.
  • #4,536
  • Sep 26, 2016 1:16pm Sep 26, 2016 1:16pm
i am take entry bye signal usdcad but it.s risk strong restant
Quote
yesterday i was thinking we had better chance in usdcad, infect the uptrend has been started in usdcad and we were in counter trend in eurjpy but i avoided due to chief advise. Any way this the part of game that's how we can learn with each other.
  • #4,537
  • Sep 26, 2016 1:22pm Sep 26, 2016 1:22pm
Quoting saranga
i am take entry bye signal usdcad but it.s risk strong restant{quote}
its strong resistance is 1.32800 there is noting in middle.
  • #4,538
  • Sep 26, 2016 1:24pm Sep 26, 2016 1:24pm
I will wait for a retraisment its to close to the last top
  • #4,539
  • Sep 26, 2016 1:51pm Sep 26, 2016 1:51pm
Quoting Bestof27
{quote} If you set TP1 at -SL you wouldn't close first position for GN & NCAD.... or I m missing something....
Hey Bestof27,

Bk8 has recommended on several occasions that if your TP1 is not hit the day following entry, to close position one at the end of the day if it is in profit and move second to break even. This guarantees at least some return on your money for the day. The second position you let ride. If it stops out, you made money on position one. If the trade continues your way you can continue a trailing stop as the trade goes your way. Hope this helps, it isn't really specified in post 1.
  • #4,540
  • Sep 26, 2016 2:26pm Sep 26, 2016 2:26pm
Quoting BuffaloPat
{quote} Hey Bestof27, Bk8 has recommended on several occasions that if your TP1 is not hit the day following entry, to close position one at the end of the day if it is in profit and move second to break even. This guarantees at least some return on your money for the day. The second position you let ride. If it stops out, you made money on position one. If the trade continues your way you can continue a trailing stop as the trade goes your way. Hope this helps, it isn't really specified in post 1.
Ok if it is in profit, but if it is not ...
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