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Monthly Profit - Daily Trading using SMA

  • #4,981
  • Sep 28, 2016 8:47am Sep 28, 2016 8:47am
Quoting RapzyFX
{quote} 1. The first problem we are facing here is that a lot of people did not thoroughly read or understand this thread to know that the idea/concept behind this thread is to follow the system as it is for at least 6 months before talking about optimization. 2. We need to know that While strictly following the rules for trade selection and trade suggestions made by thread owner and other major contributors we can also fine tune our entries and exists, including trade management as a whole with other indicators PRIVATELY/PERSONALLY, while taking...
I joined this thread and team only recently but totally adhere to RapzyFX .
I used to be indecisive but now I'm not so sure...
  • #4,982
  • Sep 28, 2016 8:50am Sep 28, 2016 8:50am
@Bk8: thanks for the system. im new here and im on the first few pages. just a question before I read further.

1. Has there been any changes to the rules but never posted on post #1?
2. is it still the same SMA5 and shift setting of 3?
3. and the bollinger band is just the default of 2.0 dev?
  • #4,983
  • Sep 28, 2016 8:52am Sep 28, 2016 8:52am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting Blackeagle
{quote} Totally agree with you. The results are impressive and thanking him for sharing his strategy. Just brought the pip count issue up to be on the same page with everyone to fix a minor mistake. That's all. Regards, Blackeagle


Fully agree! BK8 has started a great thread and I thank him very much! I have not made yet a lot of pips but I have learned from this thread more than from any other and continue learning from him and from many other traders that contribute very much with opinions that complement the main strategy.

Thanks BK8 for having started it!!!

Jos
  • #4,984
  • Sep 28, 2016 9:00am Sep 28, 2016 9:00am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting ola08
{quote} I don't think Oddbjorg has committed any trading crime for closing part of her trade at 15pips. If the stake used is fairly sizeable, 15pips can translate to a reasonable amount to put in the bank, while the second position is allowed to run. It will also reduce the potential exposure. Besides, even, the chief himself, BK8 had 20pips as his TP1 in one of his trades(N/CAD-post4809). His 2nd position was closed at a substantial loss of 105pips! He would have ended up with nothing, and even with a greater loss, had he not banked partial profit...
You are completely right! My previous comments were not to correct the decision but to make sure that Oddbjorg has understood well this strategy (and to also reconfirm my understanding of it!)
  • #4,985
  • Sep 28, 2016 9:17am Sep 28, 2016 9:17am
Quoting tobymarshall
@Bk8: thanks for the system. im new here and im on the first few pages. just a question before I read further. 1. Has there been any changes to the rules but never posted on post #1? 2. is it still the same SMA5 and shift setting of 3? 3. and the bollinger band is just the default of 2.0 dev?
1- There has been changes but Post #1 is updated.
2- No, SMA 5 Shift 0
3- Yes, default.

Regards,
Blackeagle
  • #4,986
  • Sep 28, 2016 9:26am Sep 28, 2016 9:26am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting shum
{quote} .... its about traders who have differnt vision of trading, and we must to respect eachother decision.. he like to speak about weekly, you about basic, every have his true.. if basic work for you..fine, if weekly for him..excelent..
You do have my support, shum. We must respect!
  • #4,987
  • Sep 28, 2016 9:38am Sep 28, 2016 9:38am
Quoting Bk8
{quote} You did right thing, same wick issue.. will never recommend any setup with wick anymore.. sorry guys {image}

Just like I said yesterday - " will not trade this one - N/CH - maybe ok , but I personally don't like this upper wick "..
I think that it will be better to not think about - what the traders would like to see everyday ( more and more setups ) but pick up only the best,quality ones As we all know , more dosen't mean better..Just stick to your personal point of view boss, as you where doing so far ,with such a great results ,don't look at anybodys expectations about quantity of setups
Read 1st post , if you don't understand something , then , ask a question
  • #4,988
  • Sep 28, 2016 9:42am Sep 28, 2016 9:42am
Quoting Bk8
I am with you guys, lets stick to rules on #1 Thank you very much for your support! {quote}


i joined this thread just a week ago, i read all the posts here... yet i am having a terrible start, thanks to EN today and CJ last week.... i am sure we will make it... rules are rules even to FOOLS... follow the rules...
  • #4,989
  • Sep 28, 2016 9:42am Sep 28, 2016 9:42am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting jmmn
{quote} Fully agree! BK8 has started a great thread and I thank him very much! I have not made yet a lot of pips but I have learned from this thread more than from any other and continue learning from him and from many other traders that contribute very much with opinions that complement the main strategy. Thanks BK8 for having started it!!! Jos
Don't you all think that any contribution should be welcome? Any comments, any suggestions, any helpful indicators, anything that may improve the strategy and that help all of us to make money should be thankful. No?

We all are trading to make money. Period.

Finally, the only one that must strictly follow BK8's strategy is BK8. And he is following up the system, because he is, as all of us, interested also about making money. So he will come back after three months, six months or whenever he considers that right, to tell us that this system id delivering money or that it needs corrections as a, b and c.

Meanwhile each of us will continue adding as much helpful information to HIS system as possible, like it or dislike it, agreeing with or not agreeing with.

Let us avoid the "ignore" buttom.

Let us open our eyes to read everybody's contributions and finally let us get what we are looking for: A system that delivers money.

We are ONLY looking for that.

Jos
  • #4,990
  • Edited 10:05am Sep 28, 2016 9:49am | Edited 10:05am
Quoting jmmn
{quote} Don't you all think that any contribution should be welcome? Any comments, any suggestions, any helpful indicators, anything that may improve the strategy.... No? ...Meanwhile each of us will continue adding as much helpful information to HIS system as possible, like it or dislike it, agreeing with or not agreeing with.
A separate thread would be a good place for all the casting-about and philosophizing, adding, discarding indicators, etc. that might "improve" the strategy.
  • #4,991
  • Edited 10:07am Sep 28, 2016 9:56am | Edited 10:07am
I have been using this strategy for last 3-4 days. And it did not turn out to be a successful one for me as of now. Well I do know it very well that there can always be losses and bad days in trading and we should be prepared for that. But here are few points I want to mention :

1) Request People(if any) don't cry if you loose money. A trade(win or loose) is a solo journey , it happened coz of your own decision. So take the blame

2) At the same time we should not discourage people who are mentioning failed trades .Mentioning Failed trades on the thread is also very important. So that experts could investigate

3) This Strategy is based on SMA5 & BB. Doesn't mean we should kill any discussion that tries to relate SMA5 with other indicators for other verifications . Thats what u do in trading. You question your strategies to find better answers . Isn't it ?

4) I have seen lot of people have benefited from this strategy here . Great Work . But we should not encourage blind faith in the strategy rather we should encourage more questions to understand Why,When,How it works ? It is clear working strategy for scalping and I have seen day traders been using it for lower time frames with mixed results . For Daily time frames , it seems it is successful here


All said with good intentions. appreciate all the efforts put together by BK8 and team

It seems loosing trades are because many pairs are testing weekly/monthly Support/Resistance these days and this is the time when you can get number of fake reversals and sideway moves.
  • #4,992
  • Sep 28, 2016 10:10am Sep 28, 2016 10:10am
Quoting marsss
...This Strategy is based on SMA5 & BB. Doesn't mean we should kill any discussion that tries to relate SMA5 with other indicators for other verifications . Thats what u do in trading. You question your strategies to find better answers . Isn't it ?
True. Discussion is one thing, indiscriminately piling on indicators is another.
  • #4,993
  • Sep 28, 2016 10:28am Sep 28, 2016 10:28am
When previous D1 bull candle's body has clearly crossed SMA and did not touch BB upper band. Short - When previous D1 bear candle's body has clearly crossed SMA and did not touch BB lower band.

respected sir, what you mean clearly cross, i have started this technice and started to earn some pips, kindly explain clearly word.
regards
gh
  • #4,994
  • Sep 28, 2016 11:18am Sep 28, 2016 11:18am
GBPCAD facing very strong resistance @ 1.72300.
I Win, I Lose, It's my Job... And I Love it!
  • #4,995
  • Sep 28, 2016 11:54am Sep 28, 2016 11:54am
Quoting Bk8
{quote} You did right thing, same wick issue.. will never recommend any setup with wick anymore.. sorry guys {image}
please explain more what do you mean by wick
  • #4,996
  • Sep 28, 2016 12:03pm Sep 28, 2016 12:03pm
Hello,

Can anyone please clarify, when looking at the daily candle when the actual daily candle start ?
Is it a 12:00 am (EST)?
Is it a 5:00 pm ? (EST)
Is it at the corresponding trading zone time (e.g. London zone start at 3:00 am EST), meaning if we are trading GBP pairs the start for the candle should be 3:00 am ?

Perhaps the people having bad results are taking the wrong start time as a reference. It would be very helpful to clarify what's the point of reference for the start of the daily candle.

Thank you in advance.
LearnDaily
  • #4,997
  • Sep 28, 2016 12:36pm Sep 28, 2016 12:36pm
Quoting shimmering
XNGUSD looks like a good one for going short. It crossed down the SMA, and on weekly looks like just coming off a resistance. I have never traded this one, anyone has any thoughts on it? {image}
Hope you shorted Nat Gas the other day - it turned out to be a good trade. This is in face of CNBC's recommendation to go long UNG that same day.

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  • #4,998
  • Sep 28, 2016 12:47pm Sep 28, 2016 12:47pm
GBPNZD for tonight ??? Let's wait till EOD to find out.

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  • #4,999
  • Edited 1:18pm Sep 28, 2016 1:07pm | Edited 1:18pm
Quoting SnoopyAKQJT
GBPNZD for tonight ??? Let's wait till EOD to find out. {image}
Hi Snoopy, GBP/NZD - sorry but this isn't a Bk8 setup, because from the beginning of this thread we avoid sideways like in this example. You should enter this trade 5 candles earlier , ( i have with this pair now + 78 ) when the first candle crossed the SMA, right after that "downtrend" . I understand yor turtle thing about that pinbar , S/R , but acording to our system rules , it's not a good setup , because it's now ranging in sideways. Everything is in 1st post, withe examples etc . It could go up, Ok , it's logic , but this particular example is a "no no" for our system here..Cheers
Read 1st post , if you don't understand something , then , ask a question
  • #5,000
  • Sep 28, 2016 1:14pm Sep 28, 2016 1:14pm
Quoting SnoopyAKQJT
{quote} Hope you shorted Nat Gas the other day - it turned out to be a good trade. This is in face of CNBC's recommendation to go long UNG that same day. {image}
No I didn't. Drats!
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