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Monthly Profit - Daily Trading using SMA

  • #5,741
  • Oct 9, 2016 7:51pm Oct 9, 2016 7:51pm
I took EJ & UJ short. EA from last week
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  • #5,742
  • Oct 9, 2016 8:06pm Oct 9, 2016 8:06pm
Anyone took Aud/jpy, nzd/jpy or nzd/cad??
  • #5,743
  • Oct 9, 2016 8:53pm Oct 9, 2016 8:53pm
Quoting caillo
Anyone took Aud/jpy, nzd/jpy or nzd/cad??
Hi. I am trying Aud/Jpy. Oddbj
All the best to all of you. But don't follow me. I am a learner.
  • #5,744
  • Oct 9, 2016 9:21pm Oct 9, 2016 9:21pm
Quoting jmmn
{quote} Hi, erebus. M is also starting to go up...
Hi
Although I advocate trading same direction with longer trend, don't forget that we are catching countertrend or retracement in the shorter(daily trend). We want to enter and get out by the next swing.
So it is almost certain we will see conflicting signals between daily,weekly and monthly chart. My two cents.
Thank you.
  • #5,745
  • Oct 9, 2016 10:56pm Oct 9, 2016 10:56pm
Quoting Bk8
{quote} Thanks Mr Filip! Here are my recommendations Short CAD/JPY and USD/JPY
Hi Bk8,
For USD/JPY dd you get a clear cross of the SMA on Frida's close because I didn't?
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I used to be indecisive but now I'm not so sure...
  • #5,746
  • Oct 10, 2016 12:15am Oct 10, 2016 12:15am
What is everyone's opinion on closing to break even when trades don't go in your favour after a few days? We clearly would prefer only to take trades which go like the GBPAUD, unlike AUDCHF
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So many in the Commercial section want to make me rich! :o
  • #5,747
  • Oct 10, 2016 12:23am Oct 10, 2016 12:23am
I took AUD/JPY - it opened with a 42 pip gap from fridays close. I trade weekend gaps, if suitable, so this trade is a bit of a double wammy being a SMA trade as well. The good news is that I have woken up to the gap being closed, and have TP on the gap part of my trade and left the SMA part running
  • #5,748
  • Oct 10, 2016 12:29am Oct 10, 2016 12:29am
Quoting FX-Flux
What is everyone's opinion on closing to break even when trades don't go in your favour after a few days? We clearly would prefer only to take trades which go like the GBPAUD, unlike AUDCHF {image} {image}
IMHO A/CHF is sideways. Today's problem seems to be big gap up over the WE. If it was me, and I got BE, I'd do that and move on and use my margin elsewhere cheers M
  • #5,749
  • Oct 10, 2016 12:49am Oct 10, 2016 12:49am
Quoting Mathy
{quote} IMHO A/CHF is sideways. Today's problem seems to be big gap up over the WE. If it was me, and I got BE, I'd do that and move on and use my margin elsewhere cheers M
I try to close at BE (second candle) if the first candle is against me.
  • #5,750
  • Oct 10, 2016 12:50am Oct 10, 2016 12:50am
Quoting Mathy
{quote} IMHO A/CHF is sideways. Today's problem seems to be big gap up over the WE. If it was me, and I got BE, I'd do that and move on and use my margin elsewhere cheers M
For what it's worth, I believe that having taken this trade last week with the appropriate SL and TP, I am letting it ride out it's natural course. If you have a trading plan then work the plan. Every trade we place, we place it with the full expectation that it is going to be successful. Otherwise we wouldn't have taken it. So, being true to the strategy and plan, the sideways movement must end one way or the other.
Cheers
  • #5,751
  • Oct 10, 2016 1:17am Oct 10, 2016 1:17am
Quoting FX-Flux
What is everyone's opinion on closing to break even when trades don't go in your favour after a few days? We clearly would prefer only to take trades which go like the GBPAUD, unlike AUDCHF {image} {image}
I'm in too on AUDCHF - it's gone a bit sideways in the last few days, yet it may move downwards eventually.
Generally speaking, when not sure, set to BE and let it go. You won't gain anything but won't lose anything either. My rule is: don't be greedy.
  • #5,752
  • Oct 10, 2016 1:28am Oct 10, 2016 1:28am
Quoting Bk8
I am sharing the simplest strategy for stress free day trading, I have ever seen anywhere else Indicators SMA 5,0 BB (Optional) Time Required - Just 15 minutes daily after D1 close when new candle starts. Avoid Lower timeframe charts, even H4 is not reliable. Risk - Do not take positions more than 5% of account value and do not take multiple positions of same currency (Max 2), even setup is 100% correct Sideways pattern Entry Long - When previous D1 bull candle's body has clearly crossed SMA and did not touch BB upper band. Short - When previous...
hi, is this system open trade in which time frame? open trade in DI or M15?
  • #5,753
  • Oct 10, 2016 3:20am Oct 10, 2016 3:20am
Quoting Rj86
{quote} hi, is this system open trade in which time frame? open trade in DI or M15?
Did you even read the first post?
  • #5,754
  • Oct 10, 2016 3:28am Oct 10, 2016 3:28am
This day trade:
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  • #5,755
  • Oct 10, 2016 4:11am Oct 10, 2016 4:11am
Quoting caillo
Anyone took Aud/jpy, nzd/jpy or nzd/cad??
As I have posted, nzdcad has massive resistance on weekly and monthly chart. You could but not much room going up. Also,your risk reward would be badly lopsided.
That's my personal opinion.
Thank you
  • #5,756
  • Oct 10, 2016 5:43am Oct 10, 2016 5:43am
Quoting Fadhl
Hi: I found these pairs meeting the rules: Long: USDTRY USDCAD (this one is pending because it is almost at the top of its range; therefore, if it breaks 1.345, I will go long) US Equities (pending the result of Trump-Clinton debate; if Hilary wins, Equities up and vice-versa) USDNOK EURNZD NZDCAD Short: DAX GBP pairs: Pound still has a lot of room to go down particularly if Carney dismisses from his post as head of BOE. UK Equities, too! GL! I will take only one or two pairs.
I took USDCAN (long) and I shorthed DAX.
  • #5,757
  • Oct 10, 2016 8:41am Oct 10, 2016 8:41am
Nzdcad hit sl
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  • #5,758
  • Oct 10, 2016 9:16am Oct 10, 2016 9:16am
I took USDCAN (long) and I shorthed DAX.[/quote]
Stopped out for both!
  • #5,759
  • Oct 10, 2016 9:18am Oct 10, 2016 9:18am
The week's not starting well. Got three stop losses
sell CAD/JPY
sell AUD/JPY
sell AUD/CHF

CHF/JPY still fighting.
  • #5,760
  • Oct 10, 2016 9:20am Oct 10, 2016 9:20am
A second dreadful week in a row, this will truly leave the strong from the weak get rich quick lot
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