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Monthly Profit - Daily Trading using SMA

  • #5,581
  • Oct 5, 2016 9:08am Oct 5, 2016 9:08am
Quoting Trucomallica
AJ closed above previous daily closes. Your trade still had closes inside the zone. You could say that it is somewhat subjective, but there is a reason why almost no one took the trade. And going into it too late adds risk. And if you took your second position, you had a big retracement, adding data that tells you that the possibilities of the price to go up are diminished.
This is amazing how both of us have such polarized opposite views of the same situation...

Time will tell, happy trading.
I used to be indecisive but now I'm not so sure...
  • #5,582
  • Oct 5, 2016 9:50am Oct 5, 2016 9:50am
Quoting Erebus
{quote} Very good, according to your trading plan, good luck {image}
erebus yours chart setup is good . can you send tpl.?
  • #5,583
  • Oct 5, 2016 10:04am Oct 5, 2016 10:04am
Hi, I started following the thread recently, like the idea of the price closing the sma on daily. I have other indicators i use, which you will see later in a pic I will post regarding a trade I took on USD/JPY. I am VERY surprised nobody took this trade. here's a pic of my trade explorer for the usdjpy trade. Also entered on aud/usd yesterday night. I use trade interceptor as for my charts, and Oanda as my broker.
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  • #5,584
  • Oct 5, 2016 11:09am Oct 5, 2016 11:09am
Quoting caillo
Hi, I started following the thread recently, like the idea of the price closing the sma on daily. I have other indicators i use, which you will see later in a pic I will post regarding a trade I took on USD/JPY. I am VERY surprised nobody took this trade. here's a pic of my trade explorer for the usdjpy trade. Also entered on aud/usd yesterday night. I use trade interceptor as for my charts, and Oanda as my broker. {image}

I did. A bit late, I decided to wait for a MOBO break.... Still in as long as I am not stopped out (around 220 pips for now)
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  • #5,585
  • Oct 5, 2016 11:48am Oct 5, 2016 11:48am
Quoting knullasomfan
{quote} I did. A bit late, I decided to wait for a MOBO break.... Still in as long as I am not stopped out (around 220 pips for now) {image}
Yeah, it's been great. I will post a pic later of my chart. Monthly pivot comes in at 103.77, will it hold? I don't see any news today to break it. Maybe it will be broken this week with NFP..
  • #5,586
  • Oct 5, 2016 12:25pm Oct 5, 2016 12:25pm
Quoting umairsheikh2
Once Upon Time: {image} And NOW: {image}
And......? what do you mean???
  • #5,587
  • Oct 5, 2016 1:25pm Oct 5, 2016 1:25pm
Anyone watching GBP/NZD ? I'm a bit wary of taking any GBP trades at this time with Britex high in the news but this looks to me like a nice potential set up.
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  • #5,588
  • Oct 5, 2016 2:23pm Oct 5, 2016 2:23pm
Quoting Prax
Anyone watching GBP/NZD ? I'm a bit wary of taking any GBP trades at this time with Britex high in the news but this looks to me like a nice potential set up.{image}
I took NU today 5GMT2 and it goes fine but i hesitate GN since NU is not so clear, EU snoozy and I need to wait and see what will happend with MMs and their newest maxed out EG top - double triple top and back down or another raid.
  • #5,589
  • Oct 5, 2016 2:49pm Oct 5, 2016 2:49pm
GBp/JPY looks good to me

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  • #5,590
  • Edited 3:10pm Oct 5, 2016 2:56pm | Edited 3:10pm
I took NZD/USD, despite the price being close to lower BB. So far so good. But I have a few question regarding MM:
I'm trading live on a 100 EUR test account so taking two (as per Take Profit/Exit rules) 0.01 lots and SL around 120 pips is way too much risk for such a small account. As Bk8 mentioned before, he's trading(testing) this strategy on a small accounts. So how do you trade this strategy on a very small accounts, do you take just one position, if so, do you trail your SL by placing it 15 pips under/above last profit candle until SL has been hit?

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  • #5,591
  • Oct 5, 2016 3:06pm Oct 5, 2016 3:06pm
Quoting tomuks
GBp/JPY looks good to me {image}
Well, I don't agree, GBP/JPY looks sideways, even SMA 5 is almost horizontal. Some correct me if I'm wrong.

Attached Image
  • #5,592
  • Edited 4:07pm Oct 5, 2016 3:07pm | Edited 4:07pm
Quoting Filipo1
Thanks Erebus. Aje6767 I agree but close/open falls at 11pm at my place in Switzerland so I was sleeping and was too busy this morning, better late than never the only thing is that it adds more distance to the S/L which is already huge.
do you think it would be better to open an account with a broker with a different closing time for your own convenience?
OR have a demo account with a convenient closing daily candle and enter with your current broker.
  • #5,593
  • Oct 5, 2016 3:21pm Oct 5, 2016 3:21pm
Quoting soldier88
{quote} Well, I don't agree, GBP/JPY looks sideways, even SMA 5 is almost horizontal. Some correct me if I'm wrong. {image}
Yes looks GJ looks sideways to me too, am staying away from this one.
  • #5,594
  • Oct 5, 2016 3:33pm Oct 5, 2016 3:33pm
Quoting soldier88
I took NZD/USD, despite the price being close to lower BB. So far so good. But I have a few question regarding MM: I'm trading live on a 100 EUR test account so taking two (as per Take Profit/Exit rules) 0.01 lots and SL around 120 pips is way too much risk for such a small account. As Bk8 mentioned before, he's trading(testing) this strategy on a small accounts. So how do you trade this strategy on a very small accounts, do you take just one position, if so, do you trail your SL by placing it 15 pips under/above last profit candle until SL has...
Open an account with Oanda or FXCM.

I'm thinking of opening a $5 account with Oanda to test this strategy.
  • #5,595
  • Oct 5, 2016 3:36pm Oct 5, 2016 3:36pm
Hey everyone quick question, if your at a loss at the end of the first day of opening your two trades for a pair and they haven't hit the SL then do you still keep them open? And if so do you just let them run till you hit the SL how would you manage them if there at a loss?
  • #5,596
  • Oct 5, 2016 3:47pm Oct 5, 2016 3:47pm
Quoting Gniraw
Hey everyone quick question, if your at a loss at the end of the first day of opening your two trades for a pair and they haven't hit the SL then do you still keep them open? And if so do you just let them run till you hit the SL how would you manage them if there at a loss?
I try to exit at breakeven (TP). If TP is never hit It ll be a loss.
  • #5,597
  • Oct 5, 2016 3:48pm Oct 5, 2016 3:48pm
In 20 minutes wil daily candle close;
I will SHORT AUD/CHF and NZD/CHF
Good luck and Green pipis to All.
Human beings are members of a whole, In creation of one essence and sol.
  • #5,598
  • Oct 5, 2016 3:51pm Oct 5, 2016 3:51pm
Quoting soldier88
{quote} Well, I don't agree, GBP/JPY looks sideways, even SMA 5 is almost horizontal. Some correct me if I'm wrong. {image}
You are absolutely right on that its a typical sideways for many days now. It could go up from here who knows and you might be profitable but its completely against our trading 5SMA rule.
  • #5,599
  • Oct 5, 2016 3:56pm Oct 5, 2016 3:56pm
Quoting MrRijk
In 20 minutes wil daily candle close; I will SHORT AUD/CHF and NZD/CHF Good luck and Green pipis to All.
NZDCHF wow that's a risky one dude and its completely against our rules. Its already touching the lower BB band. Are you willing to take that risk?? wow good luck
AUDCHF is not bad but I am not taking it.
  • #5,600
  • Oct 5, 2016 3:56pm Oct 5, 2016 3:56pm
Quoting MrRijk
In 20 minutes wil daily candle close; I will SHORT AUD/CHF and NZD/CHF Good luck and Green pipis to All.
Same here.
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