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Monthly Profit - Daily Trading using SMA

  • #5,261
  • Sep 30, 2016 2:29am Sep 30, 2016 2:29am
Quoting Beth25
G/Ch hit SL, USDCAD hit SL, AUD JPY hit SL
Beth25
Hang in there.thanks
  • #5,262
  • Sep 30, 2016 2:32am Sep 30, 2016 2:32am
Quoting Beth25
G/Ch hit SL, USDCAD hit SL, AUD JPY hit SL
The Market is always right
  • #5,263
  • Sep 30, 2016 2:50am Sep 30, 2016 2:50am
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?
  • #5,264
  • Sep 30, 2016 2:56am Sep 30, 2016 2:56am
Quoting kingdomk
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 {quote}
Hi
I am using Oanda and they have GMT plus 2 whIch gives me first daily candle at 5 am my time.
Not sure if that's what you are looking for. You pm me please.
Thanks
  • #5,265
  • Sep 30, 2016 3:04am Sep 30, 2016 3:04am
Quoting Sohail64
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
Why don't you think through what you just mentioned and experiment on your own? It may work better on some pairs.
  • #5,266
  • Sep 30, 2016 3:34am Sep 30, 2016 3:34am
Quoting bolehbah69
just started, added own filter, managed it using google spreadsheet, pretty easy to use {image}
can u plz explain a bit how do u merge both system and how r u using it ?
  • #5,267
  • Sep 30, 2016 3:38am Sep 30, 2016 3:38am
Quoting RapzyFX
{quote} You are correct. You take profit on 1st position IF in profit at the end of day.
Hi RapzyFX,

this is your interpretation and it is also my, but as you can read other fellow trader like Bestof27 (# Post 5,255) has a different view.

Yesterday Bk8 even closed first position in profit for A/J & C/J without waiting the end of day... (#Post 5,079)

http://www.forexfactory.com/showthre...85#post9167585

Please Bk8, can you clarify one more time how to take profit on first position ?
Which criteria do you use : a) a certain amount of pips (i.e. 0.5 of daily ATR), b) end of day, c) close beforehand if there are red news ahead ?

I know that you have a full time job but this is principal, because if entries are important exits are even more.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #5,268
  • Sep 30, 2016 3:50am Sep 30, 2016 3:50am
Quoting aszain02
{quote} can u plz explain a bit how do u merge both system and how r u using it ?
i would suggest you to just use the default requirement at POST 1, that could allow you to have proper entry. To respect BK8, will not discuss other system here
  • #5,269
  • Sep 30, 2016 3:51am Sep 30, 2016 3:51am
Quoting kingdomk
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 {quote}
Check with a lower timeframe candle - e.g. 1H - where it closes exactly at 5pm New York time. That's the daily New York closing price - no matter what time your broker's daily candle closes. The price is the same all over the world at a certain moment, no matter in which timezone a broker works.
  • #5,270
  • Sep 30, 2016 4:01am Sep 30, 2016 4:01am
Quoting bolehbah69
{quote} i would suggest you to just use the default requirement at POST 1, that could allow you to have proper entry. To respect BK8, will not discuss other system here
ya i know bk8 system very well. i was asking about the merge
  • #5,271
  • Sep 30, 2016 4:36am Sep 30, 2016 4:36am
I decided to run a test today on AUDUSD from 04.05.2010 to 22.12.2014, Unfortunately when I download the data from FXCM I must of been tired at the time and didn't capture 2015, 2016 data. I will have to redo it but as you can see from the pics not to bad. Anyway just a little inspiration I suppose.
Best of luck everyone. Thanks again bk8.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD TEST.JPG Size: 235 KB
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD STATS.JPG Size: 49 KB
It's not about how much you make, it's about how much you don't lose
  • #5,272
  • Sep 30, 2016 4:45am Sep 30, 2016 4:45am
Quoting martyhype
I decided to run a test today on AUDUSD from 04.05.2010 to 22.12.2014, ...
Could you please tell us which rules you used as the rules on Post #1 are discretionary for both entries and exits?

Regards,
Blackeagle
  • #5,273
  • Sep 30, 2016 5:22am Sep 30, 2016 5:22am
Quoting Blackeagle
{quote} Could you please tell us which rules you used as the rules on Post #1 are discretionary for both entries and exits? Regards, Blackeagle
+1 I think it is important for back testing using an algo to make sure you are clear on how you determine a sideways pattern ect.
So many in the Commercial section want to make me rich! :o
  • #5,274
  • Sep 30, 2016 5:42am Sep 30, 2016 5:42am
Quoting martyhype
I decided to run a test today on AUDUSD from 04.05.2010 to 22.12.2014 {image}{image}

Hi martyhype,

80% win rate looks great. Since this kind of backtest can't look for sideways and clearly closing through the SMA, or test for the wicks and S&R addon rules, I would guess you followed the rule from post 1 where price technically closes through the SMA and that's it. It would seem a very good system. 2 trades a month doesn't seem like much but if the profitability holds up over 20 pairs or so it would be very easy to compound, especially if the profit factor stays over 3.

If your initial stop loss was 15p past the signal bar which TP strategy did you use for this test?

Next run I would suggest using a .01 lot instead of a 19 lot since that is what most posters seem to use and would keep the equity curve realistic.
  • #5,275
  • Sep 30, 2016 5:51am Sep 30, 2016 5:51am
SMA u can use a support and resistance and get profit by trading in a month.u will b overall in profit remain by using SMA.
  • #5,276
  • Sep 30, 2016 5:52am Sep 30, 2016 5:52am
Quoting temporal
{quote} Since this kind of backtest can't look for sideways and clearly closing through the SMA, .
Clearly crossing through is very easy.

if ( Mathabs(iOpen-iClose)> 80Pips
&& iOpen < MA
&& iClose > MA
&& (iClose-MA)>Mathabs(iOpen-iClose)*0.25)
}
BuyFunction()
}

This means that you need a candle body greater than 80 Pips and at least 25% of the body has closed over the MA
So many in the Commercial section want to make me rich! :o
  • #5,277
  • Sep 30, 2016 6:00am Sep 30, 2016 6:00am
Quoting FX-Flux
{quote}This means that you need a candle body greater than 80 Pips and at least 25% of the body has closed over the MA
No one has ever defined what clearly is is why I mentioned it. Right now it seems to be a visual thing, and therefore arbitrary. I would love it if it was a solid rule like 25%.
  • #5,278
  • Edited 6:33am Sep 30, 2016 6:02am | Edited 6:33am
CADCHF trying to recover, now -27, 1TP to BE

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  • #5,279
  • Sep 30, 2016 6:29am Sep 30, 2016 6:29am
Thanks a lot mr BK8, after 200 weeks and a loss of net 150k usd with different brokers, i closed my week with some pips gain, thanks to your guide lines & this thread.
best regards
gh
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  • #5,280
  • Sep 30, 2016 6:30am Sep 30, 2016 6:30am
Quoting Blackeagle
{quote} Could you please tell us which rules you used as the rules on Post #1 are discretionary for both entries and exits? Regards, Blackeagle
Gday, yes at the end of the day it is discretionary entry but used post 1 for guideline. Take profit was easy, if the candle the next day was in profit, close first position and move second postion to break even and let it run. I let second position run until I came across a new setup.
It's not about how much you make, it's about how much you don't lose
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