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Monthly Profit - Daily Trading using SMA

  • #6,961
  • Nov 16, 2016 12:04am Nov 16, 2016 12:04am
Quoting Bk8
{quote} I will try Stoch later if MACD filters too much MACD filtered most of your setups except E/A. All the best!!
Have you tried the MACD coloured?
Attached File(s)
File Type: ex4 MACD_colored.ex4   3 KB | 314 downloads
  • #6,962
  • Nov 16, 2016 1:22am Nov 16, 2016 1:22am
Quoting Filipo1
{quote} Of course without any fundamental consideration, in this case EIA stockpiles release later today.
Just took this one. Let's see if it can break the S/R level.
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I used to be indecisive but now I'm not so sure...
  • #6,963
  • Nov 16, 2016 1:25am Nov 16, 2016 1:25am
Quoting Filipo1
{quote} Just took this one. Let's see if it can break the S/R level. {image}
This one :
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I used to be indecisive but now I'm not so sure...
  • #6,964
  • Nov 16, 2016 1:42am Nov 16, 2016 1:42am
Quoting Filipo1
{quote} This one : {image}
Adding the Fibonacci levels makes it even clearer : on th weekly the pair just couldn't break 50% retracement.
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I used to be indecisive but now I'm not so sure...
  • #6,965
  • Nov 16, 2016 3:04am Nov 16, 2016 3:04am
Hi BK8,
great system. Thanks.

i like the system as is. What about using fundamental or news as a filter rather than lagging indicators?.
  • #6,966
  • Nov 16, 2016 3:08am Nov 16, 2016 3:08am
helloo trader here we have best signal between Daily chart and 30 m chart

check here pls
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  • #6,967
  • Nov 16, 2016 3:13am Nov 16, 2016 3:13am
Quoting Filipo1
{quote} Adding the Fibonacci levels makes it even clearer : on th weekly the pair just couldn't break 50% retracement. {image}
Yes I think we need some testing with fibos.It could add some edge for system
  • #6,968
  • Nov 16, 2016 5:29am Nov 16, 2016 5:29am
Good morning, MACD 5.8.5 good filter
  • #6,969
  • Nov 16, 2016 6:12am Nov 16, 2016 6:12am
Quoting Bk8
{quote} I will try Stoch later if MACD filters too much MACD filtered most of your setups except E/A. All the best!!
Some update: got stopped on GBPAUD, GBPUSD is in green but the rest is being challenged...
I used to be indecisive but now I'm not so sure...
  • #6,970
  • Nov 16, 2016 6:44am Nov 16, 2016 6:44am
Quote
Yes I think we need some testing with fibos.It could add some edge for system

Agreed, but the great thing about this system is that it is simple. And because of the simplicity it is popular and easily done from a mobile or tablet. I was surprised to see MACD and stokes creeping in as they aren't leading indicators, but maybe I'm too purist. Whilst fibs and trendlines are generally considered as leading indicators, they seem to only be as good as the candle signals surrounding them. Even using these, we are again getting into learning curves that are probably far more complicated for many people on here.

I've only yet read up to page 168 and I can see how easy it is to go off track, and that is when confusion and poor decisions get made. Seems we've all been victims of this in the past?

deankenny posted something that really resonated with me in post 660:
Quote
This exactly what I mentioned couple pages back, as a profitable trader now after 8 hard gruelling learning years I have learnt to scrap RSI, macd and all that other garbage you mentioned.

My turnaround from losing money to being proftiable was cleaning my charts right up and only applying my supply and demand zones that was it. I commended BK8 for a simple daily strategy with a clean chart, and was afraid users would start coming in and messing it up with all these lagging indicators.

For example RSI is turning up, well duh, we can see that...

This also on post 669:

Quote
Then the simplicity, 1 candle crossing 1 line, granted there is some discretion, if anything I can input here that is valuable, if when you spot a cross of the moving average, look to the left, if it's a buy, has it closed above past resistance, if it has this now becomes support and will give you extra security in the trade. Looking back at some losers on here, over half of them could've been avoided by using this along. If you are buying but the close of the candle has closed below resistance, do not enter, also if you don't enter, DO NOT look...

He also shows an example in post 670

My opinion is we should show trades and encourage learning in the spirit of this. Maybe it is a pain in the ass to demonstrate on a mobile, but I've seen enough guys on here putting the time in drawing lines on their projections. And is it possible to stick to one timeframe? I don't know, just putting it out there...
'in less than half an hour he made over 100 ticks'
  • #6,971
  • Nov 16, 2016 8:05am Nov 16, 2016 8:05am
Quoting Filipo1
{quote} Adding the Fibonacci levels makes it even clearer : on th weekly the pair just couldn't break 50% retracement. {image}
In my analysis of weekly it just touch my level 2.236% of the fibo extension, it's supposed to go down hard, when? we'll see. On daily, it started. Thanks for the post, I would have missed it.
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  • #6,972
  • Nov 16, 2016 8:43am Nov 16, 2016 8:43am
Bk8,if you were profitable (for 6 months) with Bollinger bands and 5sma,why now are u using two Sma and Macd? It's a bit strange,what do u think?
Mi odino pure, purche' mi temano. (Gaio Cesare Germanico Caligola)
  • #6,973
  • Nov 16, 2016 10:32am Nov 16, 2016 10:32am
Quote
Bk8,if you were profitable (for 6 months) with Bollinger bands and 5sma,why now are u using two Sma and Macd? It's a bit strange,what do u think?

I'll let BK8 answer, but I think it may be in the interests of continuous improvement. Evolution
'in less than half an hour he made over 100 ticks'
  • #6,974
  • Nov 16, 2016 11:28am Nov 16, 2016 11:28am
AUD NZD on the watch list
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I used to be indecisive but now I'm not so sure...
  • #6,975
  • Nov 16, 2016 3:55pm Nov 16, 2016 3:55pm
short CAD/JPY ; long AUD/CAD
  • #6,976
  • Nov 16, 2016 4:20pm Nov 16, 2016 4:20pm
Quoting Filipo1
AUD NZD on the watch list {image}
Agree, I am talking too
  • #6,977
  • Nov 16, 2016 4:22pm Nov 16, 2016 4:22pm
Quoting Pretoriano
Bk8,if you were profitable (for 6 months) with Bollinger bands and 5sma,why now are u using two Sma and Macd? It's a bit strange,what do u think?
Just FYI, I am not testing 2 SMA any more.
  • #6,978
  • Nov 16, 2016 4:26pm Nov 16, 2016 4:26pm
Quoting Bk8
{quote} E/A was a weak setup but currently it has 20+ pips profit. I am already out with few green pips. Todays Setup Long N/CHF (weak setup, chances 55% only)
N/CHF did not perform well and right now its -30 pips. As per our rule, I will get out on breakeven.

Todays Setup

SHORT AUD/NZD (Chances 80%)
  • #6,979
  • Nov 16, 2016 5:30pm Nov 16, 2016 5:30pm
Hopefully, the AUD news today push you guys to profit today. Personally, my chart has not closed below sma yet. Will do my analysis on the pair later to check my fibo levels. I took usd/cad earlier when filipo mentioned it. So far 37 pips profit.
  • #6,980
  • Nov 16, 2016 5:58pm Nov 16, 2016 5:58pm
Hello. 16.11.2016.23:48. Trade from last night : Gbp/Cad 1)2) closed with + pips.New trade Aud/Nzd short. Trying a small amount Usd/Cad short. See if the bull can rest a while. Thank you. All the best. Oddbj.
All the best to all of you. But don't follow me. I am a learner.
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