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Attachments: Monthly Profit - Daily Trading using SMA
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Monthly Profit - Daily Trading using SMA

Quoting FX-Flux
If we didn't have AudUsd as a buy, do you think you would take the sell signal today?
I don't have A/U as a buy , so probably will take this short..will see where the candle will close
Read 1st post , if you don't understand something , then , ask a question
buy eur /aud
sell aud/usd
Read 1st post , if you don't understand something , then , ask a question
Took EURAUD long and AUSUSD short.
Still in EURAUD short and GBPCHF long.
GBPCAD triggered stoploss and GBPCHF is about to, will be the fourth loser in a row.

Next week will be better.
Quoting Pipsifx
Took EURAUD long and AUSUSD short. Still in EURAUD short and GBPCHF long. GBPCAD triggered stoploss and GBPCHF is about to, will be the fourth loser in a row. Next week will be better.
Today will be better. Think positive not all things go our way. Forget about the losses. Wins are coming to you!!!
Quoting driven18
I have been reading this thread everyday with interest. I have also waited for losses to start rolling in during chop times. I believe this thread will go away as many others did of the similar breakout of the previous day high/low with the MA. It just a matter of time before chop will eat everyone else up. The problem with this technique, especially trading daily bars, is, you do not have enough R:R profits to withstand Chop periods. When I trade and I trade intraday 30 min and 1hour bars, my R:R is at least 1:3 on 30 min and and I try to go for...
but they can only withstand choppy periods if money management is legitimate. Let's face it, people don't give a damn about correlations, and 5% risk per trade is mad. It pushes your account when things are going in your favor but will mentally brake someone during the inevitable drawdown phases. Statistics are gonna catchup with us sooner or later. So money management is more important than entry signals.
Quoting Karemi-Trade
{quote} but they can only withstand choppy periods if money management is legitimate. Let's face it, people don't give a damn about correlations, and 5% risk per trade is mad. It pushes your account when things are going in your favor but will mentally brake someone during the inevitable drawdown phases. Statistics are gonna catchup with us sooner or later. So money management is more important than entry signals.
Personally , I will never enter the trade with more than 2%..more focused on - how much I can loose ,than how much I can make..
Read 1st post , if you don't understand something , then , ask a question
Quoting Karemi-Trade
{quote} but they can only withstand choppy periods if money management is legitimate. Let's face it, people don't give a damn about correlations, and 5% risk per trade is mad. It pushes your account when things are going in your favor but will mentally brake someone during the inevitable drawdown phases. Statistics are gonna catchup with us sooner or later. So money management is more important than entry signals.

Agreed that risking 5% per trade is nuts. That's 20 losses in a row to blow up an account, and 5 in a row will hurt bad enough to devastate your confidence because your P&L has taken such a whack. 1/2% if your live trading a new to you system, and no more than 2% when know the expectancy of a system. You will money manage your way into the poor house if your expectancy is negative.
Quoting Pipsifx
Good short opportunity. {image}
Even if I had A/U as a buy, it would have been many candles back, and the long bearish candle of today would have hit my trailing stop loss and this happened just near the top of the BB and coincides with a strong resistance level, so I think it is a good sell set up.
In fact it is a perfect STOP and REVERSE TRADE, I think. Am sure BK8 will choose this as one of the days setups.
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 528 Posts
Quoting Pipsifx
Took EURAUD long and AUSUSD short. Still in EURAUD short and GBPCHF long. GBPCAD triggered stoploss and GBPCHF is about to, will be the fourth loser in a row. Next week will be better.
Are you still long gbpchf?

You should have been stopped out at 1,2590, following the SL + 15 pips.

Am I right?

Thanks
Quoting FX-Flux
If we didn't have AudUsd as a buy, do you think you would take the sell signal today?
Even if I had A/U as a buy, it would have been many candles back, and the long bearish candle of today would have hit my trailing stop loss and this happened just near the top of the BB and coincides with a strong resistance level, so I think it is a good sell set up.
In fact it is a perfect STOP and REVERSE TRADE, I think. Am sure BK8 will choose this as one of the days setups.
Quoting Ghibli
buy eur /aud sell aud/usd
Closed my Long and took the short
So many in the Commercial section want to make me rich! :o
Quoting jmmn
{quote} Are you still long gbpchf? You should have been stopped out at 1,2590, following the SL + 15 pips. Am I right? Thanks
I understood that you move your sl when your in profit. The first day the candle was not in profit so stop loss stays where it originally was 2515 or there abouts pending broker.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2016-09-30-07-47-40.png Size: 289 KB
It's not about how much you make, it's about how much you don't lose
Quoting FX-Flux
{quote} Closed my Long and took the short
Read 1st post , if you don't understand something , then , ask a question
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 528 Posts
Quoting RapzyFX
{quote} Even if I had A/U as a buy, it would have been many candles back, and the long bearish candle of today would have hit my trailing stop loss and this happened just near the top of the BB and coincides with a strong resistance level, so I think it is a good sell set up. In fact it is a perfect STOP and REVERSE TRADE, I think. Am sure BK8 will choose this as one of the days setups.
Watch out because audusd trend on a W and M basis is up!

The same for euraud. This pair W and M trend is short.
Quoting jmmn
{quote} Watch out because audusd trend on a W and M basis is up! The same for euraud. This pair W and M trend is short.
What is W and M basis/trend?
Cheers
Quoting arielcorp
{quote} What is W and M basis/trend? Cheers
Weekly, Monthly..
Read 1st post , if you don't understand something , then , ask a question
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 528 Posts
Quoting Ghibli
{quote} Weekly, Monthly..
Thanks, ghibli!
Quoting Ghibli
{quote} Weekly, Monthly..
Quoting Bk8
{quote} Performance Summary Setups from previous week G/A +685 Pips!!!!!! (Second Position) A/U + 172 Pips! (Second Positon) E/A + 306 Pips!!! (Second Position) G/N + 30 Pips (First Position)... -16 Pips (Second Position ) N/CAD + 20 Pips (First Position) Breakeven (Second Position) Setups from Monday G/C + 20 Pips (First Position) - 120 pips (second Position) E/CHF - 16 Pips Setups from Tuesday GBP/CHF - 4 pips NZD/CHF - 65 pips (SL) EUR/NZD - 135 Pips (SL) So far we have 5 losers in last 4 weeks! Today's Setups Long AUD/JPY and CAD/JPY Short USD/CAD...
Performance Summary

Setups from previous week

 

  1. G/A +627 Pips!!!!!! (Second Position)
  2. A/U + 110 Pips! (Second Position Closed)
  3. E/A + 220 Pips!!! (Second Position Closed)
  4. G/N + 30 Pips (First Position)... -20 Pips (Second Position )
  5. N/CAD + 20 Pips (First Position) Breakeven (Second Position)


Setups from Monday

  1. G/C + 20 Pips (First Position) - 120 pips (second Position)
  2. E/CHF - 68 Pips



Setups from Tuesday

  1. GBP/CHF - 115 pips


Setups from Wednesday

  1. AUD/JPY + 50 pips (Closed, First Position 65 pips - Second Position 15 pips)
  2. CAD/JPY + 57 pips ((Closed, First Position 72 pips - Second Position 15 pips)
  3. USD/CAD - 30 pips


So far we have 5 losers in last 4 weeks!

Today's Setups

Long EUR/AUD

Thank you very much for your support. All the best!

Disclaimer : USE OF THIS THREAD/SUGGESTIONS AT YOUR OWN DISCRETION AND RISK AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY LOSS!

Quoting jmmn
{quote} Are you still long gbpchf? You should have been stopped out at 1,2590, following the SL + 15 pips. Am I right? Thanks
True, but my entry was a bit later/lower.
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