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Attachments: Monthly Profit - Daily Trading using SMA
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Monthly Profit - Daily Trading using SMA

I like the system. I already have 6 consecutive wins for the week, though last week was dismal. entry is not problem, I'm weak on the exiting part.
Hi, I'm USD CAD, right? Thank BK8
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Quoting josephkee
{quote} No, those who are grateful will be those who listen snd humble. There are now 35 who pm me. But there are stll monkeys like Monaghan who still think we are out to spoil his party. Unless someone shut this monkey off then I think you are doing the many who are interested. I am in discussion with Moonbeam to start a thread soon so that this guy will be ban from it. Thank you
At last MR J MONKEE has gone
now i can come back and contribute, its just a pity i cant join his new thread, Hahaha.....
Quoting Bk8
{quote} None today but I took U/J as part of experiment for new rule SMA 5,3 and SMA 5,0 cross
done

done
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i want to know about the GBPUSD
in my view is going to still up
anybody share ur comments its help me
Wait for GOOOOOD Time
Quoting Arman8
i want to know about the GBPUSD in my view is going to still up anybody share ur comments its help me
Thursday
11:30
10/20/16
GB Retail Sales
(GB Retail Sales), England, GBPUSD
Average reaction when trigger 35.00 points in the first minute after the release.
30% probability trades.
Quoting Arman8
i want to know about the GBPUSD in my view is going to still up anybody share ur comments its help me

I'm on the long for GBPUSD base on the trades I showed a few thread back base on Bk8 method of trading the daily chart. I believe you are asking for daily analysis and not short TF?
Hi Bk8,

Just now took short for CADJPY.
Expect good r:r since long term is down.
TQ
Let Market Tell You
Afternoon all
just for info, i would have missed this trade if i had my SMA shift at 5 3, now have 60 pips in the bank, closed half and let the rest run
good luck all
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Quoting richnam
{quote} Please whats the new rule??
Hi Richnam,
You are obviously directing your question to the wrong person.
I don't know the NEW RULE and don't think I'd be interested. I simply follow the SMA 5 rule, which is working for me. Every strategy has its pros and cons. No perfect or loss proof strategy.
BK8 and the proponents of the so called NEW RULE may want to explain what it is and why they think it's better than the largely successful SMA 5 strategy. Over to them. Thanks.
Quoting ola08
{quote} Hi Richnam, You are obviously directing your question to the wrong person. I don't know the NEW RULE and don't think I'd be interested. I simply follow the SMA 5 rule, which is working for me. Every strategy has its pros and cons. No perfect or loss proof strategy. BK8 and the proponents of the so called NEW RULE may want to explain what it is and why they think it's better than the largely successful SMA 5 strategy. Over to them. Thanks.
Hi Ola8
if you look at my chart above you will see how many winners there has been with 5 0, i changed this to 5 3, i just cant be bothered to post another chart and there are far less, all the 5 3 does is move the SMA further away from price, only my humble opinion
good luck
Quoting monaghan
Afternoon all just for info, i would have missed this trade if i had my SMA shift at 5 3, now have 60 pips in the bank, closed half and let the rest run good luck all {image}
not a same
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Quoting allworldas
{quote} not a same {image} {image}
Because i am Oanda GMT -5
Usdjpy stopped out
So many in the Commercial section want to make me rich! :o
Quoting tobymarshall
I like the system. I already have 6 consecutive wins for the week, though last week was dismal. entry is not problem, I'm weak on the exiting part.
Hey guys, I think we going good in entries, but what about exits? We should get out when price touch opociteBB?
Quoting chiche
{quote} Hey guys, I think we going good in entries, but what about exits? We should get out when price touch opociteBB?
Hi Chiche, this posting should give you a few pointers.

regards
Quoting Bk8
{quote} I use Metatrader for my 6 accounts including Oanda
I don't know why can't I find the sma shift setting in Oanda metatrader mobile platform? Is it Oanda mobile that you use for the screen shots?
Quoting monaghan
{quote} Hi Ola8 if you look at my chart above you will see how many winners there has been with 5 0, i changed this to 5 3, i just cant be bothered to post another chart and there are far less, all the 5 3 does is move the SMA further away from price, only my humble opinion good luck
Hi Monaghan,
Thanks for your little explanation re sma 5 0 and 5 3. As I mentioned earlier, both strategies have their pros and cons.
5 3 is a conservative and more risk averse approach. It is designed to filter out bad trades and enhance the quality as well as the accuracy of our entries.
Traders have different personalities, trading styles and personal preferences. The 5 0 trader would be a momentum trader who likes to take the trade quickly, not blindly though, as soon as the market signals. They like to catch on the initial move/ burst of momentum to make some pips before market stalling/retracement and eventual continuation, if the entry decision turns out to be good.
When both Sma 5 0 and 5 3 entries are right, the Sma 5 0 trader makes more pips than the 5 3 trader.
Whenever the entry signal generated by 5 0 strategy is false, the 5 0 trader gets burnt while the 5 3 trader is left unscatched, avoids the loss and preserves his capital. However, the truth is that when the chosen strategy(5 0 or 5 3) is adopted consistently, with strict discipline, by each category of trader, things will tend to compensate for each other and even out in the long run, based on the law of large numbers.
All these being said, the good thing is that we now have an alternative, more conservative, though not necessarily more profitable strategy(until proven) to settle for. Since they both offer long term profitability potential (all things being equal), let's settle for whichever one we prefer/adjudge better, and stop unnecessary noise about the superiority of one to the other. I must mention that it is also wise to test and know the reliability of a strategy before you put your money on it. Anything short of this is pure gambling. Another good thing is that BK8 welcomes the so called new rule. Good luck to everyone using either of these minutely different but potentially profitable strategies.
Do you guys wait till the candle closes or do you just enter when the bar crosses the SMA
Quoting Skurgent
Do you guys wait till the candle closes or do you just enter when the bar crosses the SMA
Hi Skurgent,
Signal is valid only when the candle has safely and clearly closed above the SMA. There's always the possibility of a retrace if you choose to place a trade before the candle closes. When the candle closes well above the SMA, you also need to look for supporting/contradictory price action before you pull the trigger.
Try and read through the thread for more explanation and advices on important price actions that will be relevant to your trading decisions. Hope this helps. Good luck.
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