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Monthly Profit - Daily Trading using SMA

  • #4,541
  • Edited 2:41pm Sep 26, 2016 2:28pm | Edited 2:41pm
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.
I didn't....

Did you ever figure out why you couldn't create a trade explorer? Because i think people would find it useful, even if you have other strategies running on the same account, it doesn't take a genius to figure out which trades to follow.
So many in the Commercial section want to make me rich! :o
  • #4,542
  • Sep 26, 2016 2:36pm Sep 26, 2016 2:36pm
1st week trade 57 pip
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  • #4,543
  • Sep 26, 2016 2:39pm Sep 26, 2016 2:39pm
Im going to upload a video shortly that demonstrates the importance of using the breakeven tactic, that is after 1 candle that proved not to be profitable. Because right now it appears to be quite random on how we decide how we move to breakeven. However, we do set a specific SL after all, and people do state to stick to that breakeven as part of the strategy.
So many in the Commercial section want to make me rich! :o
  • #4,544
  • Sep 26, 2016 2:39pm Sep 26, 2016 2:39pm
Quoting Bestof27
{quote} Ok if it is in profit, but if it is not ...
Let it ride. Each day at close is the same thing. When you are in profit, close position 1 if tp1 not hit. Essentially this will keep you from getting stuck in a sideways pair for a week or longer so you can take other trades when they come up.
  • #4,545
  • Sep 26, 2016 2:45pm Sep 26, 2016 2:45pm
Quoting BuffaloPat
{quote} Let it ride. Each day at close is the same thing. When you are in profit, close position 1 if tp1 not hit. Essentially this will keep you from getting stuck in a sideways pair for a week or longer so you can take other trades when they come up.
Understood
Thank you
  • #4,546
  • Sep 26, 2016 2:46pm Sep 26, 2016 2:46pm
Quoting FX-Flux
right now it appears to be quite random on how we decide how we move to breakeven.
Agree, and that is why I asked BK8 to explain even very briefly WHY he took a position and WHY he don't, and, most important to me, WHEN and WHERE he moves his SL.
Just to be all in the same boat as BK8.

Thanks
  • #4,547
  • Sep 26, 2016 2:51pm Sep 26, 2016 2:51pm
Quoting lucariga
{quote} Agree, and that is why I asked BK8 to explain even very briefly WHY he took a position and WHY he don't, and, most important to me, WHEN and WHERE he moves his SL. Just to be all in the same boat as BK8. Thanks
"Moving SL every day" is not really practicable when sometimes the price didn't have a big enough movement. Its seems to me that we have to determine our own Pip Buffer that we must apply depending on how the last few candles look. Simply applying +/-15 Pips to the High/Low of the previous day candle is not acceptable. You will see in my video.
So many in the Commercial section want to make me rich! :o
  • #4,548
  • Sep 26, 2016 2:59pm Sep 26, 2016 2:59pm
Quoting FX-Flux
{quote} "Moving SL every day" is not really practicable when sometimes the price didn't have a big enough movement. Its seems to me that we have to determine our own Pip Buffer that we must apply depending on how the last few candles look. Simply applying +/-15 Pips to the High/Low of the previous day candle is not acceptable. You will see in my video.
You could be right, but don't forget that this system worked very well for BK8 for the last 7-8 moths, so I think that he has a sound SL and TP placement.

I just can't figure out why in some of his screenshots the SL is placed not according to the rules.

For example in this post http://www.forexfactory.com/showthre...39#post9160239 the SL should be 15 pips above thursday's candle but it is well above of that as you can see.
  • #4,549
  • Edited 11:47pm Sep 26, 2016 3:09pm | Edited 11:47pm
Quoting lucariga
{quote} You could be right, but don't forget that this system worked very well for BK8 for the last 7-8 moths, so I think that he has a sound SL and TP placement. I just can't figure out why in some of his screenshots the SL is placed not according to the rules. For example in this post http://www.forexfactory.com/showthre...39#post9160239 the SL should be 15 pips above thursday's candle but it is well above of that as you can see.

video upload today
So many in the Commercial section want to make me rich! :o
  • #4,550
  • Sep 26, 2016 3:10pm Sep 26, 2016 3:10pm
Quoting lucariga
{quote} You could be right, but don't forget that this system worked very well for BK8 for the last 7-8 moths, so I think that he has a sound SL and TP placement. I just can't figure out why in some of his screenshots the SL is placed not according to the rules. For example in this post http://www.forexfactory.com/showthre...39#post9160239 the SL should be 15 pips above thursday's candle but it is well above of that as you can see.
I believe that image is from a previous sell position from Monday 19, already in profit and he moved his SL lower...
  • #4,551
  • Sep 26, 2016 3:13pm Sep 26, 2016 3:13pm
Quoting FX-Flux
{quote} See this video (Still uploading - patience): https://youtu.be/B5AneQaVAG0
Hey Flux,

You have your video set to private.
  • #4,552
  • Sep 26, 2016 3:24pm Sep 26, 2016 3:24pm
Quoting BuffaloPat
{quote} Hey Flux, You have your video set to private.
It says that because it is still uploading. I will probably get to bed before it finishes.
So many in the Commercial section want to make me rich! :o
  • #4,553
  • Sep 26, 2016 3:27pm Sep 26, 2016 3:27pm
Quoting lucariga
{quote}For example in this post http://www.forexfactory.com/showthre...39#post9160239 the SL should be 15 pips above thursday's candle but it is well above of that as you can see.
sometimes Bk8 is busy, like watering the lawn and forgets to move the SL as he stated before.
  • #4,554
  • Sep 26, 2016 3:35pm Sep 26, 2016 3:35pm
Quoting umairsheikh2
{quote} Yeah too bad! She doesnt have a faith on this system or just confused.
sorry shimmering. appears to me you`re afraid to place a large SL in favour of a small SL.
basicly you are then trading on a lower TF and as Bk8 said before, it wont work.
why not join us, lower your position size and have the proper SL according to this system.
peace
  • #4,555
  • Sep 26, 2016 3:35pm Sep 26, 2016 3:35pm
XAG/USD - Short is the only setup that I see today.

GBPCAD - Buy and EUR/AUD - Buy are with long wicks, EUR/CHF is a sideway pattern.

Any comments?
  • #4,556
  • Sep 26, 2016 3:40pm Sep 26, 2016 3:40pm
My day ends in about 20 mins....If things stay as they are I'll be buying GBPCAD. The only other 2 that tick the boxes are EUR/AUD buy and (just...it's not quite sideways yet) EURCHF buy. I'll be staying away from the later due to it being inside bar, and while the former is all through the SMA, it's not a candle that suggests strong buy to me.
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  • #4,557
  • Sep 26, 2016 3:58pm Sep 26, 2016 3:58pm
Quoting rabhni
XAG/USD - Short is the only setup that I see today. GBPCAD - Buy and EUR/AUD - Buy are with long wicks, EUR/CHF is a sideway pattern. Any comments?
I can't remember if this breaks the rules but I don't think the long wicks as displayed in the GBP/CAD invalidate it. Previous candle a great reversal indicator plus the bulk of the wick of the current candle is at the bottom, so this is a good bearish candle.
  • #4,558
  • Sep 26, 2016 3:59pm Sep 26, 2016 3:59pm
Quoting yonnie
{quote} sometimes Bk8 is busy, like watering the lawn and forgets to move the SL as he stated before.
Ha ha... seriously, I forget to move SL... one of the disadvantages when we have to manage multiple accounts.
  • #4,559
  • Sep 26, 2016 4:00pm Sep 26, 2016 4:00pm
GBP/CAD
Read 1st post , if you don't understand something , then , ask a question
  • #4,560
  • Sep 26, 2016 4:01pm Sep 26, 2016 4:01pm
Possibly GBPCAD Long,
But it is only about 60 pips below the monthly open, possible temporary resistance.
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