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Monthly Profit - Daily Trading using SMA

  • #6,981
  • Nov 16, 2016 6:21pm Nov 16, 2016 6:21pm
Quoting shimmering
short CAD/JPY ; long AUD/CAD
Hi Shimmering. For me Cad/Jpy Was a bit to early. I will keep an eye on it tomorrow. Best of luck. Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #6,982
  • Nov 16, 2016 10:06pm Nov 16, 2016 10:06pm
Quoting Bk8
{quote} 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%)

NZD/CHF on breakeven and AUD/NZD got 42 pips so far
  • #6,983
  • Nov 16, 2016 10:38pm Nov 16, 2016 10:38pm
Quoting shimmering
{quote} Have you tried the MACD coloured? {file}
All,

Do we need MACD to support this strategy ?

thanks
  • #6,984
  • Nov 17, 2016 12:18am Nov 17, 2016 12:18am
Quoting Bk8
{quote} NZD/CHF on breakeven and AUD/NZD got 42 pips so far
What is the exact rule about getting out at break even?
  • #6,985
  • Nov 17, 2016 12:28am Nov 17, 2016 12:28am
Quoting onejester
{quote} 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...
The MACD histogram is not lagging. It can be used as " momentum leads price" indicator.
  • #6,986
  • Nov 17, 2016 12:47am Nov 17, 2016 12:47am
Quoting shimmering
{quote} What is the exact rule about getting out at break even?
I think BK8 said if the trade is loosing after the first day , close the trade when it reaches break even.
  • #6,987
  • Nov 17, 2016 1:06am Nov 17, 2016 1:06am
Now we are just getting carried away, just stick to the rules in the beginning. The MACD-Histogram is an indicator of an indicator. In fact, MACD is also an indicator of an indicator. This means that the MACD-Histogram is four steps removed from the price of the underlying security. In other words, it is the fourth derivative of price.

  1. First derivative: 12-day EMA and 26-day EMA
  2. Second derivative: MACD (12-day EMA less the 26-day EMA)
  3. Third derivative: MACD signal line (9-day EMA of MACD)
  4. Fourth derivative: MACD-Histogram (MACD less MACD signal line)

The base for this indicator is the security's price. It takes four steps to get from the actual price to the MACD-Histogram. Talk about massaging the data. While not necessarily a bad thing, chartists should keep this in mind when analyzing the MACD-Histogram. It is an indicator of an indicator. Therefore, it is designed to anticipate signals in MACD, which in turn is designed to identify changes in the price momentum of the underlying security.

It's not about how much you make, it's about how much you don't lose
  • #6,988
  • Nov 17, 2016 2:22am Nov 17, 2016 2:22am
Greetings all, I am getting along well with the system as it is. The pips are being crushed....
Attached Image(s) (click to enlarge)
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  • #6,989
  • Nov 17, 2016 3:16am Nov 17, 2016 3:16am
Hi Shimmering

Quote
The MACD histogram is not lagging. It can be used as " momentum leads price" indicator.

If you believe Wikipedia (https://en.wikipedia.org/wiki/MACD):

Quote
Since the MACD is based on moving averages, it is inherently a lagging indicator. As a metric of price trends, the MACD is less useful for stocks that are not trending (trading in a range) or are trading with erratic price action.

I suspect the majority of professional traders would favour the strategy mentioned in posts:

660
669
670

In the interests of filtering out bad trades, why don't we test it? If someone wants to backtest the results of MACD vs Price Action and good old Support and Resistance lines, I'm sure that there will be loads of new traders who will benefit.

Opinions are like farts, meaning everyone likes the smell of their own (!). Rather than debate it, let's see nothing other than the results of some back testing.
'in less than half an hour he made over 100 ticks'
  • #6,990
  • Nov 17, 2016 3:25am Nov 17, 2016 3:25am
This appears to be a very powerful strategy yet so clean and simple. I have added MACD (12,26,9) and RSI (14) to confirm momentum, the MACD crosses work well and trades align pretty well with the RSI breaking 50. I think I'll pull up 5 years data and test further.
  • #6,991
  • Nov 17, 2016 6:56am Nov 17, 2016 6:56am
Quoting rayandi
{quote} I think BK8 said if the trade is loosing after the first day , close the trade when it reaches break even.
What if the trade never makes it back to break even? Close out on loss on the following day, or let it hit SL?
  • #6,992
  • Nov 17, 2016 7:25am Nov 17, 2016 7:25am
hahaha! Sorry, I just have to laugh about some comments about MACD. I think some people don't even know how to use it PROPERLY! MACD can be a the best indicator in your arsenal if you KNOW HOW TO USE IT! Since one of the members here said let see results.. I use a modified MACD, of course in combination with other strategies, you can't rely on MACD alone, see my results! I'm not backtesting anything, look at my trade explorer is out, there for everybody to see. I don't have to hide it. Not to many people show it in this thread, but they talk.....

I learn to respect some people here like filipo, Bk8 for bringing this strategy, although I've never seen his explorer, Eurubus, I think that's your username, sorry if I misspelled it, managham, I think also that's his username. This people make AWESOME contributions. If you want to learn how other people use MACD with great success, there's a guy here in forex factory, his name is Phillip Nel, he is awesome. I learned a lot from him, i ended up paying a mentor back in the day, but i still use the concept.
  • #6,993
  • Nov 17, 2016 8:09am Nov 17, 2016 8:09am
Quoting caillo
hahaha! Sorry, I just have to laugh about some comments about MACD. I think some people don't even know how to use it PROPERLY! MACD can be a the best indicator in your arsenal if you KNOW HOW TO USE IT! Since one of the members here said let see results.. I use a modified MACD, of course in combination with other strategies, you can't rely on MACD alone, see my results! I'm not backtesting anything, look at my trade explorer is out, there for everybody to see. I don't have to hide it. Not to many people show it in this thread, but they talk........
Thanks for your recommendation on MACD and please be assured of my reciprocal consideration.
I used to be indecisive but now I'm not so sure...
  • #6,994
  • Nov 17, 2016 8:14am Nov 17, 2016 8:14am
Quoting Filipo1
{quote} Thanks for your recommendation on MACD and please be assured of my reciprocal consideration.
No prob, thank you for your recommendation on usd/cad yesterday, waiting on Yellen to speak, so far it's been great.
  • #6,995
  • Nov 17, 2016 8:26am Nov 17, 2016 8:26am
Quoting caillo
{quote} No prob, thank you for your recommendation on usd/cad yesterday, waiting on Yellen to speak, so far it's been great.
Yellen already published her testimony, 120 mins earlier as scheduled
Attached Image
  • #6,996
  • Nov 17, 2016 8:39am Nov 17, 2016 8:39am
funny, I have her for 9am my time..
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  • #6,997
  • Nov 17, 2016 8:41am Nov 17, 2016 8:41am
Quoting caillo
funny, I have her for 9am my time.. {image}
just press on detail icon (yellow portfolio) with red star to see an update, this way it is highlighted pre-release events
  • #6,998
  • Nov 17, 2016 2:30pm Nov 17, 2016 2:30pm
Good day group, pls I'm relatively new to Fx trading so I havent been able to successfully develop a strategy, just flip flopping here and there...just want to use this avenue to ask experienced trading how the journey has been in general as BK8's methodology.
Thanks
Victor.
  • #6,999
  • Nov 17, 2016 3:56pm Nov 17, 2016 3:56pm
Hi Victor, I too am new to FX as witnessed by my comments regarding MACD which were met with a few interesting comments; so the point is that we are learning together... Best of luck and look forward to "talking" again, Adrian.
  • #7,000
  • Nov 17, 2016 4:38pm Nov 17, 2016 4:38pm
Quoting Bk8
{quote} 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%)
Closed AUD/NZD, 20+ Pips and N/CHF on break-even.
Today's Setup

Long USD/CAD (Not enough space from Upper BB so, weak setup, Chances 60%)
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