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Monthly Profit - Daily Trading using SMA

  • #5,461
  • Oct 3, 2016 4:54pm Oct 3, 2016 4:54pm
Quoting trader700
{quote} For me , I never trade MA's In my opinion the MA is following the price not the opposite so 90% of trades based on MA any Ma are losing trades specially in sideways markets
So please share your special crystal ball readings with us

There is no magic indicator, however, the major flaw of indicators is not the lag as you claim, but that they cannot calculate the randomness aspect of the market.

Indicators can calculate the predictable aspect of the market but not the randomness; that is the reason why they, and this system, will never be perfect.

It takes a lot for me to IGNORE you, but you can try.
  • #5,462
  • Oct 3, 2016 5:22pm Oct 3, 2016 5:22pm
Quoting Bk8
{quote} Performance Summary (Open Positions as of 29-Sept-2016) Setups from previous week G/N -160 Pips (SL Triggered) N/CAD -10 pips (Second Position) G/C - 225 pips (SL triggered) E/CHF +5 Pips GBP/CHF - 143 pips (SL Triggered) USD/CAD - 26 pips EUR/AUD -97 pips So far we have 8 losers in last 4 weeks! We lost 7 setups last week...horrible week Setup from Sunday A/J +50 Pips No Setups for Today. Thank you very much for your support.
Hi BK8. I'm new to the thread.

Why did you take AJ? We have high impact news coming in a few hours for AUD.
  • #5,463
  • Oct 3, 2016 5:35pm Oct 3, 2016 5:35pm
Thats why we filter sideways. we took weak setups last week. We should be fine going forward.

Quoting trader700
{quote} For me , I never trade MA's In my opinion the MA is following the price not the opposite so 90% of trades based on MA any Ma are losing trades specially in sideways markets
  • #5,464
  • Oct 3, 2016 5:37pm Oct 3, 2016 5:37pm
Thanks Karemi-Trade! I can assure you that I am going to run this show forever...

Quoting Karemi-Trade
{quote} I don't think it's dying. There are no trades atm, so there is no reason for people to post here. They will come back as soon as good opportunities pop up. Just stay disciplined and keep your powder dry. Nothing to worry about.
  • #5,465
  • Oct 3, 2016 5:50pm Oct 3, 2016 5:50pm
Is everyone not just a bit hesitant to take trades due to last weeks sting?

I took this NZD/JPY trade as the only downside to the trade was the pending news yesterday. Why did it not meet other traders criteria?

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  • #5,466
  • Oct 3, 2016 6:16pm Oct 3, 2016 6:16pm
Quoting Bk8
{quote} Performance Summary (Open Positions as of 29-Sept-2016) Setups from previous week G/N -160 Pips (SL Triggered) N/CAD -10 pips (Second Position) G/C - 225 pips (SL triggered) E/CHF +5 Pips GBP/CHF - 143 pips (SL Triggered) USD/CAD - 26 pips EUR/AUD -97 pips So far we have 8 losers in last 4 weeks! We lost 7 setups last week...horrible week Setup from Sunday A/J +50 Pips No Setups for Today. Thank you very much for your support.
But think - 550 points in one week is a SO HIGH loss .... could you make another look to your system?
  • #5,467
  • Oct 3, 2016 6:36pm Oct 3, 2016 6:36pm
Quoting TroJan
{quote} But think - 550 points in one week is a SO HIGH loss .... could you make another look to your system?
What you think Bk8 to add any filter? Just a idea.
  • #5,468
  • Oct 3, 2016 6:38pm Oct 3, 2016 6:38pm
Quoting PipThePanda
Is everyone not just a bit hesitant to take trades due to last weeks sting? I took this NZD/JPY trade as the only downside to the trade was the pending news yesterday. Why did it not meet other traders criteria? {image}
in my opinion A/J was the better one - see posts 5386/5399
  • #5,469
  • Oct 3, 2016 6:48pm Oct 3, 2016 6:48pm
Quoting TroJan
{quote} But think - 550 points in one week is a SO HIGH loss .... could you make another look to your system?
Â
You really can't make arbitrary statements like this without first knowing the account size and the traders tolerance for risk. If the risk to reward ratio is more than 1:1 and the account is sufficiently funded - a 500 point loss might be a paper cut. Actually if the ratio is 1:3 and you just came off of 4 or 5 weeks or rewards, a loss should be expected. That's part of the game.
Â
Success is a lousy teacher. It seduces smart people into thinking they can't lose.
Â
Â- Bill Gates
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  • #5,470
  • Oct 3, 2016 7:08pm Oct 3, 2016 7:08pm
Dear Bk8,

I am posting this chart to show how I use it and to thank you for sharing your system.
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  • #5,471
  • Oct 3, 2016 7:09pm Oct 3, 2016 7:09pm
Quoting mil19793
{quote} With sma5 shift3 no entry.I think it was a mistake to change the settings on sma5 just more false entry.
Yes, SMA 5 shift 3 would have avoided some bad trades but it also would have missed out on some great trades. So which do you want? To miss out on some good trades or avoid some bad trades? Personally I use a mix - I have both the SMA 5-0 and 5-2 on my charts. The shift helps stay out of a lot of sideways action. I like to see price break through both lines before I enter a trade. Another way to enter is to place a pending order above or below the cross of the 5-0 as some people here do, to see if the trade is indeed going to go higher (or lower). I also use support and resistance lines to help make a decision.
  • #5,472
  • Oct 3, 2016 7:20pm Oct 3, 2016 7:20pm
my first trade using this method

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  • #5,473
  • Oct 3, 2016 8:17pm Oct 3, 2016 8:17pm
Dear Traders,

Bk8 has found a super system and I would like to show where the chart @ 5471 came from. Please do not freak out. Every one of the lines is a 5-0, 5-1, 5-2, 5-3, 5-4, 5-5. The large arrow is not in our thread masters hands, its mine.
Now what you see is a ribbon type indicator. Notice that the out side lines are the same color. All I did was remove all the inside lines and change one color on the remaining outside lines. I was surprised at the times they crossed and ergo here I am trading them. So, with everyone talking about change this and that you might consider the 5-0, 5-5 cross.
THIS IS NOT IN OUR THREAD MASTERS RULES, JUST AN OBSERVATION I MADE AND WANTED TO SHARE.

P.S. Bk8 I hope I have not upset you it is an honor to use your system.
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  • #5,474
  • Oct 3, 2016 8:31pm Oct 3, 2016 8:31pm
Quoting TroJan
{quote} But think - 550 points in one week is a SO HIGH loss .... could you make another look to your system?
You missed other reports, we made 1000+ pips last week so overall we are still profitable or breakeven
  • #5,475
  • Oct 3, 2016 8:43pm Oct 3, 2016 8:43pm
[quote=Moonbeam15;9176084]Dear Traders, Bk8 has found a super system and I would like to show where the chart @ 5471 came from. Please do not freak out. Every one of the lines is a 5-0, 5-1, 5-2, 5-3, 5-4, 5-5. The large arrow is not in our thread masters hands, its mine. Now what you see is a ribbon type indicator. Notice that the out side lines are the same color. All I did was remove all the inside lines and change one color on the remaining outside lines. I was surprised at the times they crossed and ergo here I am trading them. So, with everyone talking about change this and that you might consider the 5-0, 5-5 cross. THIS IS NOT IN OUR THREAD MASTERS RULES, JUST AN OBSERVATION I MADE AND WANTED TO SHARE. P.S. Bk8 I hope I have not upset you it is an honor to use your system. {image}[/quote

Dear Moonbeam,

what is the name of this indicator?
  • #5,476
  • Oct 3, 2016 8:51pm Oct 3, 2016 8:51pm
Hi bk8, AJ runs beautifully. I guess last week just a horrible week, as senior traders here explained it is the last of the third quarter. Keep spirited ok. Thanks for wonderful system.
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  • #5,477
  • Oct 3, 2016 8:53pm Oct 3, 2016 8:53pm
Quoting gelbear
my first trade using this method {image}
Nice Trade, I was in it but unfortunately I did not move my TP in time for my second order. So had both positions close. Worse things can happen though!

Enjoy the ride upwards .
  • #5,478
  • Oct 3, 2016 8:54pm Oct 3, 2016 8:54pm
Quoting Moonbeam15
Dear Traders, Bk8 has found a super system and I would like to show where the chart @ 5471 came from. Please do not freak out. Every one of the lines is a 5-0, 5-1, 5-2, 5-3, 5-4, 5-5. The large arrow is not in our thread masters hands, its mine. Now what you see is a ribbon type indicator. Notice that the out side lines are the same color. All I did was remove all the inside lines and change one color on the remaining outside lines. I was surprised at the times they crossed and ergo here I am trading them. So, with everyone talking about change...
Not at all, Thank you very much for your contribution!
  • #5,479
  • Oct 3, 2016 9:00pm Oct 3, 2016 9:00pm
Quoting chiche
{quote} What you think Bk8 to add any filter? Just a idea.
Hi chiche,

As I mentioned earlier, we were little overconfident due to past 3 week's performance and took so many weak setups, red news were against us as well..so we were bombarded from all corners. I think that was a great lesson for us, we will never plan to be millaionarie overnight
  • #5,480
  • Oct 3, 2016 9:07pm Oct 3, 2016 9:07pm
Quoting Greenland
Quoting Moonbeam15
Dear Traders, Bk8 has found a super system and I would like to show where the chart @ 5471 came from. Please do not freak out. Every one of the lines is a 5-0, 5-1, 5-2, 5-3, 5-4, 5-5. The large arrow is not in our thread masters hands, its mine. Now what you see is a ribbon type indicator. Notice that the out side lines are the same color. All I did was remove all the inside lines and change one color on the remaining outside lines. I was surprised at the times they crossed and ergo here I am trading them. So, with everyone
...
I think its not a single indicator but 6 MAs indicator.
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