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Monthly Profit - Daily Trading using SMA

  • #5,241
  • Sep 29, 2016 7:31pm Sep 29, 2016 7:31pm
So many people struggling to tell the time, really?

It's very easy, just go to http://www.timeanddate.com/

Set up your own Personal World Clock

When New York is at 5 PM, check your local time, that is when your brokers candle should be closing (if you haven't found it on their website already)

This is very useful at those times of the year when Daylight Savings is switched on & off.

Do not ask here about times because frankly, you shouldn't be trading if you can't work that out.

And please, when you post to tell the world, or at least this thread, that your candle closed at 22:00 or 07:00, we don't care, especially as we don't even know what time zone you are in because you didn't bother to give that information, so it's totally meaningless to everyone wouldn't you agree?

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It takes a lot for me to IGNORE you, but you can try.
  • #5,242
  • Sep 29, 2016 7:32pm Sep 29, 2016 7:32pm
Quoting Ghibli
{quote} Hello Oddbjorg I have the same chart ,just like yours, so you are fine . My daily candle is also closing at 22:00
Thank you so much. Good to know. Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #5,243
  • Sep 29, 2016 8:00pm Sep 29, 2016 8:00pm
Quoting learn2fly
{quote} Why you long GU, UJ, GJ?
Technically they are hitting a strong resistance and found floor already for the past 3 months. After some consolidation activities, they will be heading north. This is based on SnR analysis.

Furthermore, UJ GJ daily charts had already closed above SMA5. GU daily chart has been dancing on sideway for the past 10 days. I expect GU will have roughly 10 days upside. Although the journey might not be so smooth.
  • #5,244
  • Sep 29, 2016 8:06pm Sep 29, 2016 8:06pm
Quoting Erebus
So many people struggling to tell the time, really? It's very easy, just go to http://www.timeanddate.com/ Set up your own Personal World Clock When New York is at 5 PM, check your local time, that is when your brokers candle should be closing (if you haven't found it on their website already) This is very useful at those times of the year when Daylight Savings is switched on & off. Do not ask here about times because frankly, you shouldn't be trading if you can't work that out. And please, when you post to tell the world, or at least...
Dear Erebus,
Again I am at the receiving end of your arrogant attitude. If you cannot be civil please refrain from any comment.

Thank you for your time chart.

"Do not ask here about times because frankly, you shouldn't be trading if you can't work that out"

I was looking for confirmation of my trading times due to the large number of previous questions on the topic in this thread. Where was your arrogant attitude then towards those members?

"And please, when you post to tell the world, or at least this thread, that your candle closed at 22:00 or 07:00, we don't care, especially as we don't even know what time zone you are in because you didn't bother to give that information, so it's totally meaningless to everyone wouldn't you agree?"

As a matter of fact I did give my time zone, and it was not meaningless as a received quite a pleasant reply from another member, SO you can now make an apology for your arrogant condescending reply, which I believe is NOT the normal nature of this thread.

Again, if you find it difficult to handle newbie questions - Butt out! Unless of course you can do it in a civil manner.
  • #5,245
  • Sep 29, 2016 8:17pm Sep 29, 2016 8:17pm
Quoting Erebus
So many people struggling to tell the time, really? It's very easy, just go to http://www.timeanddate.com/ Set up your own Personal World Clock When New York is at 5 PM, check your local time, that is when your brokers candle should be closing (if you haven't found it on their website already) This is very useful at those times of the year when Daylight Savings is switched on & off. Do not ask here about times because frankly, you shouldn't be trading if you can't work that out. And please, when you post to tell the world, or at least...
You must not be aware that there is no set time that a broker HAS to have their daily candle start. Forex.com is 8PM EST. FXCM is 5PM EST. A lot of European brokers are 12AM EST. Why does this matter? With a different daily closing for different brokers there will be different closing prices. Since there are different closing prices, there is a different 5 SMA, since, yep, you guessed it, the 5 SMA is based of the CLOSING PRICE. Do a little research yourself before you spew your ignorance.
  • #5,246
  • Sep 29, 2016 8:20pm Sep 29, 2016 8:20pm
After I have traded many losers this week, here's a highlight of 1 that has turned in the right direction. USDSGD. Been in since 26 Sept. Still waiting on TP1 to hit.
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  • #5,247
  • Sep 29, 2016 8:35pm Sep 29, 2016 8:35pm
NY closing is 5am at Singapore time. 6am is Japan, Australia and Newzealand starting time.
  • #5,248
  • Sep 29, 2016 8:37pm Sep 29, 2016 8:37pm
Quoting BuffaloPat
{quote} You must not be aware that there is no set time that a broker HAS to have their daily candle start. Forex.com is 8PM EST. FXCM is 5PM EST. A lot of European brokers are 12AM EST. Why does this matter? With a different daily closing for different brokers there will be different closing prices. Since there are different closing prices, there is a different 5 SMA, since, yep, you guessed it, the 5 SMA is based of the CLOSING PRICE. Do a little research yourself before you spew your ignorance.
Thanks Buffalo!!!!
  • #5,249
  • Sep 29, 2016 9:32pm Sep 29, 2016 9:32pm
Hi have taken a buy on EurAud and got in at 1.46930 but did not have time to get a second buy on before the price went up (Im slow, market moved fast) and price is currently 1.47095 - should I take second buy up around these prices? I have set a second buy limit at 1.46930 incase it pulls back. Not sure that I should chase the price up and is second order imperative under these circumstances?
  • #5,250
  • Sep 29, 2016 10:03pm Sep 29, 2016 10:03pm
Quoting RapzyFX
{quote} You are correct. You take profit on 1st position IF in profit at the end of day. Then move SL of 2nd position +/-15pips above/below that profit candle BUT also ONLY IF the candle is NOT a small one. If small, do not move SL until the next profit candle. This is the reason BK8 does not move SL sometimes then people bombard him with questions bcos they missed the place he mentioned it or they didn't read the thread well. Thanks.
Yes you are correct. This was in relation to the the GBPCHF trade which was never in profit hence why the SL was left where it was. It all good anyway now that I have seen that the summary has been updated with GBPCHF losing around 115pips ( dont get me wrong its not good to see), but at least with the summary I am able to see whether or not I had made a mistake. Thanks for updates.
It's not about how much you make, it's about how much you don't lose
  • #5,251
  • Sep 29, 2016 10:14pm Sep 29, 2016 10:14pm
Quoting arielcorp
Hi all, may need a little help here. Most of my trades with Bk8 recommendation have lost. I have a sneaking suspicion it may have something to do with my MT4 candle close/open times, thereby giving me a bad entry level. SO, here is my situation. I am in Queensland Australia. My broker starts the new candle at 7.00am my time. Brilliant for me. And it is GMT +10hours. Basically after the NY session close and just before Sydney session start. My question is - based on that time frame - am I getting the best entry time? I was under the impression that...
Hey mate, im in queensland too, I havnt had any problems. Was really good a couple weeks, this week abit of a struggle. New candles starts at 7am. The only problem I have had is once my spread was about 8 pips wide on an exotic. Other than that most of the spreads have been around 1 - 2 pips. Becarefull of margin too some of them pairs can be very high.
All the best.
Marty
It's not about how much you make, it's about how much you don't lose
  • #5,252
  • Sep 29, 2016 10:27pm Sep 29, 2016 10:27pm
Quoting martyhype
{quote} Hey mate, im in queensland too, I havnt had any problems. Was really good a couple weeks, this week abit of a struggle. New candles starts at 7am. The only problem I have had is once my spread was about 8 pips wide on an exotic. Other than that most of the spreads have been around 1 - 2 pips. Becarefull of margin too some of them pairs can be very high. All the best. Marty
Thanks Marty,
All good now. Just needed confirmation was on the right wavelength as everyone else.
  • #5,253
  • Sep 29, 2016 10:59pm Sep 29, 2016 10:59pm
Quoting Mathy
{quote} An observation. 1. A/U has been heading up for the quarter of Jun/Sep, so of course the W trend is up. E/A has been ranging for the same time. Changing the direction of those timeframes is like trying to turn the Titanic. How you consider the W and M timeframe is related to how long you plan to hold you trade, do you not think? 2. If A/U is weakening, what do you think will happen to E/A? 3. Many pages ago, I made an observation about this week being the last week of the quarter, and that casting your eye over the Committment of Traders...
If what you say is true, I am relief as the end is at sight and we can go bsck to profitable traDes again. Thank you.
  • #5,254
  • Sep 29, 2016 11:32pm Sep 29, 2016 11:32pm
Quoting RapzyFX
{quote} You are correct. You take profit on 1st position IF in profit at the end of day. Then move SL of 2nd position +/-15pips above/below that profit candle BUT also ONLY IF the candle is NOT a small one. If small, do not move SL until the next profit candle. This is the reason BK8 does not move SL sometimes then people bombard him with questions bcos they missed the place he mentioned it or they didn't read the thread well. Thanks.
WE are not understanding Bk8 rules the same way
For me after closing first position with + X pips, you move SL to breakeven that is to say - X pips, after (next profitable candles) you move SL +/- 15 pips above/below that candle .
May be it would be interesting to rewrite the rules in order we can apply them the same way....
  • #5,255
  • Sep 30, 2016 12:40am Sep 30, 2016 12:40am
Quoting Bestof27
{quote} WE are not understanding Bk8 rules the same way For me after closing first position with + X pips, you move SL to breakeven that is to say - X pips, after (next profitable candles) you move SL +/- 15 pips above/below that candle . May be it would be interesting to rewrite the rules in order we can apply them the same way....
Actually, Bk8 should classify his Post #1 as "Guidelines" for the method

Everyone else should take those guidelines, backtest, find what works for them and then...

Write a trading plan with their own rules

This way, they can take full responsibility for their own actions and more importantly, their own trading results

It takes a lot for me to IGNORE you, but you can try.
  • #5,256
  • Sep 30, 2016 1:31am Sep 30, 2016 1:31am
Quoting arielcorp
{quote} Thanks Rapzy, What I can't understand is that the set ups for Wednesday show AUD/JPY + 50pips and CAD/JPY +57 pips. My trades did not even get into positive territory and I don't know why.
Dear Ariel,

Please Re-Check SMA 5 parameters: It is SIMPLE MA, not SMOOTHED MA, Applied To "CLOSE", Shift 0.

Also you may post a the A/J and/or C/J charts so that we can help better if there are any issues.

The two pairs went up at least 70pips each before reversal, So there might be something wrong if you say they didn't move into profit on yours.

Cheers
  • #5,257
  • Sep 30, 2016 1:42am Sep 30, 2016 1:42am
Mr Bk8
I worked on your stratey ,its amazing
What are the best forex pairs for trading?
Can we trade commodities also?
Waithing your reply
  • #5,258
  • Sep 30, 2016 1:56am Sep 30, 2016 1:56am
Apologies for reposting. Is anyone able to recommend a broker for the ideal timings? Or would you suggest to leave it, but in that case I seem to be getting signals too early/late

Quoting kingdomk
Well done BK8 and thank you for all your hard work. Much appreciated, I've not tested yet but been following for some time now Best of luck to all Can anyone help which broker I should use, currently I'm in BST and broker IG paints new D candles at 00.00 BST, which doesn't seem to give the best signals? Would you suggest another broker?
  • #5,259
  • Sep 30, 2016 2:05am Sep 30, 2016 2:05am
G/Ch hit SL, USDCAD hit SL, AUD JPY hit SL
  • #5,260
  • Sep 30, 2016 2:11am Sep 30, 2016 2:11am
just started, added own filter, managed it using google spreadsheet, pretty easy to use
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