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Monthly Profit - Daily Trading using SMA

  • #4,881
  • Sep 28, 2016 1:58am Sep 28, 2016 1:58am
Quoting PipThePanda
{quote} Learning to analyse a trend at higher TF is a basic fundamental. One that some would say is more important than candle patterns and Support/Resistance. The idea of the thread is to teach BK8's system and optimize where possible. Don't try scald others for their ideas or opinions and then pitch your own. No offense intended.
No offense taken
read it again, i am not pitching any idea, in fact i would prefer if only the basic system was observed and discussed
  • #4,882
  • Sep 28, 2016 2:02am Sep 28, 2016 2:02am
Quoting PipThePanda
{quote} Learning to analyse a trend at higher TF is a basic fundamental. One that some would say is more important than candle patterns and Support/Resistance. The idea of the thread is to teach BK8's system and optimize where possible. Don't try scald others for their ideas or opinions and then pitch your own. No offense intended.
no offense, but you`re out of line in this thread.
a trend might be a basic fundamental for YOU, but we`re not using it here.
Bk8 dont want any optimization, unless you can prove it - he is very adamant about that one.
so maybe this thread is not for you if you can`t abide by the rules.
  • #4,883
  • Sep 28, 2016 2:04am Sep 28, 2016 2:04am
my open trade
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  • #4,884
  • Sep 28, 2016 2:10am Sep 28, 2016 2:10am
Quoting saranga
Bk8 pls u can upload Trade Explorer
+1 !!!!!!
So many in the Commercial section want to make me rich! :o
  • #4,885
  • Sep 28, 2016 2:15am Sep 28, 2016 2:15am
Quoting PipThePanda
{quote} Learning to analyse a trend at higher TF is a basic fundamental. One that some would say is more important than candle patterns and Support/Resistance. The idea of the thread is to teach BK8's system and optimize where possible. Don't try scald others for their ideas or opinions and then pitch your own. No offense intended.
Just to add
here is my two trades live acc taken this morning, i alraedy banked some profit but i wont explain here and still in line with BK8s system my trades are still running, can you clearly spot a candle pattern, now go and check the weekly charts, and then lets just forget this conversation
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  • #4,886
  • Sep 28, 2016 2:17am Sep 28, 2016 2:17am
Quoting yonnie
{quote} dont agree with how you count the pips. say your position size is normally 1 lot for 1 unit, but because you divide your position in 2 units, you would enter now with 0.5 lot each to have the same risk for your account. as in your example of 40 pips profit for the first position and 100 pips profit for the second, I would say my profit is {40 + 100} : 2 = 70 pips.
Yeah, if you take the same lot size for every setup and you are using a large account £1000+ then your risk or every trade is not consistent. If you based your lot size on the gap between your entry and SL then your pip value for every pair would be different.
So many in the Commercial section want to make me rich! :o
  • #4,887
  • Sep 28, 2016 2:32am Sep 28, 2016 2:32am
Attached Image
Quoting josephkee
{quote} Yesterday high means the csndle before(previous csndle) high becos it is a dsily csndle
This will clarify my perspective. Just a matter of interpretation.
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,888
  • Sep 28, 2016 2:35am Sep 28, 2016 2:35am
Quoting yonnie
{quote} dont agree with how you count the pips. say your position size is normally 1 lot for 1 unit, but because you divide your position in 2 units, you would enter now with 0.5 lot each to have the same risk for your account. as in your example of 40 pips profit for the first position and 100 pips profit for the second, I would say my profit is {40 + 100} : 2 = 70 pips.
That's exactly what Blackeagle is saying. Take the record shown, there you read +635 pips with GA and -110 with EJ, what you don't read is that it's 635 with 0.01 lots and -110 pips with 0.02 lots. So or you divide by 2 the +ve pips or double the -ve ones. So Blackeagle is right.

@ BK8: even with this correction the results are impressive, many compliments. The thread became huge from the last time I came here, that means you're doing an awesome job. Just one thing I'd like to suggest you if I can. By reading the last 3/4 pages I noticed that people are taking much more setups than you do and it's very normal, but it means that the 5% risk you suggest in your first post is too much for those traders. For their safety consider to lower that risk or make it very clear that it's just for your setups that are much safer.
  • #4,889
  • Sep 28, 2016 2:41am Sep 28, 2016 2:41am
Quoting yonnie
{quote} no offense, but you`re out of line in this thread. a trend might be a basic fundamental for YOU, but we`re not using it here. Bk8 dont want any optimization, unless you can prove it - he is very adamant about that one. so maybe this thread is not for you if you can`t abide by the rules.
I don't believe I'm out of line. I respect both yours and BK8'S posts along with everyone else's that comments. .
I'm not trying to change the strategy at all and have only said that personally I will be using trend to try avoid the losing trades such as the two this week. This is said to provoke thought amongst others that may be thinking along these lines.
Bk8 is happy with optimization as he has as recently as yesterday or the day before added to #1 post. He is against constant spamming of changes and suggestions of added indicators etc.
However, I will move back to the sidelines and let you have your thread back.

Happy trading.
  • #4,890
  • Sep 28, 2016 2:42am Sep 28, 2016 2:42am
Quoting monaghan
{quote} Just to add here is my two trades live acc taken this morning, i alraedy banked some profit but i wont explain here and still in line with BK8s system my trades are still running, can you clearly spot a candle pattern, now go and check the weekly charts, and then lets just forget this conversation {image} {image}
HI, What is your SMA setting? My chart does not show crossing as of now still. Maybe you have different candle closing time or different setting.
  • #4,891
  • Sep 28, 2016 2:53am Sep 28, 2016 2:53am
Quoting shimmering
{quote} Bob, I am puzzled as to why you have a buy order for EURAUD at that price, when on H1 only 13 pips above your buy stop is a resistance since the down move on 21 september.
I think I wrote the wrong info, it was a SELL which is now in profit...
  • #4,892
  • Sep 28, 2016 3:03am Sep 28, 2016 3:03am
Quoting PipThePanda
{quote} I don't believe I'm out of line. I respect both yours and BK8'S posts along with everyone else's that comments. . I'm not trying to change the strategy at all and have only said that personally I will be using trend to try avoid the losing trades such as the two this week. This is said to provoke thought amongst others that may be thinking along these lines. Bk8 is happy with optimization as he has as recently as yesterday or the day before added to #1 post. He is against constant spamming of changes and suggestions of added indicators etc....
i think you are not violating anything, as you dont try to 'enforce' others to follow your way. it's fair to speak out what you think about the trade and how you manage it, as long you are not suggesting others to follow you.
  • #4,893
  • Sep 28, 2016 3:07am Sep 28, 2016 3:07am
Quoting Bk8
What if somone does not have space for second position? What if some one has 1 lot for GA so that means I should claim 60000 pips profit Summary should be indicative messurement based on standard units. {quote}
are pips really a good indicator? what if one risks say 1,000 pips just to win 50 pips? R-Multiples are the best way afaic, but I guess not many would agree to that.

http://www.vantharp.com/tharp-concep...-multiples.asp
  • #4,894
  • Sep 28, 2016 3:09am Sep 28, 2016 3:09am
Quoting Karemi-Trade
{quote} are pips really a good indicator? what if one risks say 1,000 pips just to win 50 pips? R-Multiples are the best way afaic, but I guess not many would agree to that. http://www.vantharp.com/tharp-concep...-multiples.asp
You are spot on.
Invincibility lies in the defence; the possibility of victory in the attack
  • #4,895
  • Sep 28, 2016 3:31am Sep 28, 2016 3:31am
Quoting wma5612
{quote} HI, What is your SMA setting? My chart does not show crossing as of now still. Maybe you have different candle closing time or different setting.
Hi WMA
i am on a different time zone GMT -5 sometimes i have entries, and on the other GMT+2 sometimes i don't but you do, six or half a dozen, i cant get up at 2 in the morning
  • #4,896
  • Sep 28, 2016 3:35am Sep 28, 2016 3:35am
Quoting yonnie
{quote} dont agree with how you count the pips. say your position size is normally 1 lot for 1 unit, but because you divide your position in 2 units, you would enter now with 0.5 lot each to have the same risk for your account. as in your example of 40 pips profit for the first position and 100 pips profit for the second, I would say my profit is {40 + 100} : 2 = 70 pips.
You know what, you don't agree with me but you are exactly telling me the same thing in a different way.

If you do pip count for each unit separately, then you should do it the same thing for gains and losses. In your example, if your profit is (40+100) / 2 = 70 pips, then when you are stopped out outright, let's say, 100 pips, then you can say you lost 100 pips. But Bk8 counts, again if we use your example, +40 pips for the first position, +100 pips for the second position, which totals +140 pips. And then if he loses 100 pips (stopped out outright), he counts the loss as 100 pips, indeed, he lost 200 pips. So, the correct math for pip counting is either +140 pips profit and -200 pips loss, OR as you state +70 pips profit or -100 pips loss. But definitely NOT +140 pips profit and -100 pips loss as Bk8 does. Otherwise he is inflating the gains.

Regards,
Blackeagle
  • #4,897
  • Sep 28, 2016 3:38am Sep 28, 2016 3:38am
Quoting Oddbjorg
Hello. Eg short. No. 1 & 2 0,86109. Thank you all. Oddbj.
Hello. Eg short. No. 1 Tp triggered 15 pips profit. Thank you. Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #4,898
  • Sep 28, 2016 3:40am Sep 28, 2016 3:40am
Quoting callmejack
{quote} i think you are not violating anything, as you dont try to 'enforce' others to follow your way. it's fair to speak out what you think about the trade and how you manage it, as long you are not suggesting others to follow you.
Hi Call me J
Post #4,885
please have another look, do i have a point, or does the point of observing the weekly chart enhance BK8s method, if you look at about six of the previous swings on both these pairs, none were in line with the weekly,
2 how many candle patterns do you see at the entry points on all the swings
3 also to help new people, what else is there, i think correlation, look in the mirror?
my point, if you want to speak or suggest, make sure you have the facts, otherwise it just provokes huge debates and bad feeling
good luck
  • #4,899
  • Sep 28, 2016 3:41am Sep 28, 2016 3:41am
Quoting FX-Flux
{quote} Yeah, if you take the same lot size for every setup and you are using a large account 1000+ then your risk or every trade is not consistent. If you based your lot size on the gap between your entry and SL then your pip value for every pair would be different.
It is a different concept as you are involving money. I am just talking about pip count without using trade size and risk. Just the pip count for two equal positions.

Regards,
Blackeagle
  • #4,900
  • Sep 28, 2016 3:46am Sep 28, 2016 3:46am
Hi BK8, would u mind explain why you didnt include EG for setup today? Thank u.
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