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Monthly Profit - Daily Trading using SMA

  • #7,321
  • Dec 6, 2016 2:30pm Dec 6, 2016 2:30pm
AN buy is an option, but I think this would be forcing the trade - it's a bit sideways.

But the lining up of the fib and trend-line is tempting as a tp
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  • #7,322
  • Dec 6, 2016 4:07pm Dec 6, 2016 4:07pm
Quoting flylohudmo
AN buy is an option, but I think this would be forcing the trade - it's a bit sideways. But the lining up of the fib and trend-line is tempting as a tp {image}
A/N has wick too, but I will take it
  • #7,323
  • Dec 6, 2016 4:11pm Dec 6, 2016 4:11pm
Quoting isaacyip007
I am currently opening 1 selling position for USDCHF.I believe Bk8 avoided this setup due to the previous consolidation signs right? @Bk8
Not exactly, I was using MACD for filter purpose but did not find good result . SO back to square one

I think if we simply use MA cross, it gives better result than with MACD or 2 SMA cross, will share test result soon.
  • #7,324
  • Dec 6, 2016 4:22pm Dec 6, 2016 4:22pm
Quoting Bk8
{quote} A/N has wick too, but I will take it
I jumped in too after I saw the little retrace
  • #7,325
  • Dec 6, 2016 4:34pm Dec 6, 2016 4:34pm
Quoting Bk8
{quote} A/N has wick too, but I will take it
I do not see a proper set up for A/N in my attached chart
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  • #7,326
  • Dec 6, 2016 4:35pm Dec 6, 2016 4:35pm
Bk8,what indicator are using now? Macd works or not? Are u earning?
  • #7,327
  • Edited 4:57pm Dec 6, 2016 4:42pm | Edited 4:57pm
Quoting Sanbernardin
{quote} I do not see a proper set up for A/N in my attached chart {image}
That might be to do with your broker time. I use Darwinex and they are set to US close, which is (I think) GMT + 2.

This means my daily candle closes at 10pm GMT
  • #7,328
  • Dec 6, 2016 6:28pm Dec 6, 2016 6:28pm
Quoting flylohudmo
{quote} I jumped in too after I saw the little retrace
I was waiting due to 10 pips spread, but its too late now since it already move 20+ pips, I am happy for you though.
Red news is coming so you may like to shift your stop loss.
  • #7,329
  • Dec 6, 2016 6:31pm Dec 6, 2016 6:31pm
Quoting danese83
Bk8,what indicator are using now? Macd works or not? Are u earning?
No I did not like MACD for D1, I am still experimenting MACD for lower timeframe though.

I am still using SMA for D1. You may check my trade explorer for all previous setups. It has setups from other experiments too but going forward I will take D1 only.
  • #7,330
  • Dec 6, 2016 6:48pm Dec 6, 2016 6:48pm
Hey Bk8. Whats you think about change from SMA 5 to EMA 5? I know its not much difference, but EMA in some extremally situations looks better in backtests
  • #7,331
  • Dec 6, 2016 6:51pm Dec 6, 2016 6:51pm
Quoting Bk8
{quote} I was waiting due to 10 pips spread, but its too late now since it already move 20+ pips, I am happy for you though. Red news is coming so you may like to shift your stop loss.

Yeah that news has hit hard, not sure if it will recover so this one might be a dud - should have checked the calendar!
  • #7,332
  • Dec 6, 2016 6:59pm Dec 6, 2016 6:59pm
Quoting Bk8
{quote} I was waiting due to 10 pips spread, but its too late now since it already move 20+ pips, I am happy for you though. Red news is coming so you may like to shift your stop loss.

How far would you move your SL in this situation Bk8? It looks like the move drop may have stabilised.
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  • #7,333
  • Dec 6, 2016 7:10pm Dec 6, 2016 7:10pm
Small trade A/U
All the best to all of you. But don't follow me. I am a learner.
  • #7,334
  • Dec 6, 2016 7:17pm Dec 6, 2016 7:17pm
Quoting flylohudmo
{quote} How far would you move your SL in this situation Bk8? It looks like the move drop may have stabilised. {image}
As per post#1, it should be high/low +- 15 pips.
  • #7,335
  • Dec 6, 2016 10:37pm Dec 6, 2016 10:37pm
Quoting Oddbjorg
Small trade A/U
I Think for this case we need sl and sell stop or buy stop when the price up

here what i mean

Thaanx
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  • #7,336
  • Dec 7, 2016 7:32am Dec 7, 2016 7:32am
Quoting Bk8
{quote} No I did not like MACD for D1, I am still experimenting MACD for lower timeframe though. I am still using SMA for D1. You may check my trade explorer for all previous setups. It has setups from other experiments too but going forward I will take D1 only.
Try changing the MACD parameters, I don't know how you are using MACD, I use it like in 4 different ways, but try 5,13,1 as a parameter for D1.. maybe this will work for you.
  • #7,337
  • Dec 7, 2016 9:34am Dec 7, 2016 9:34am
Years back, I came across a posted method of trading based upon the modified MACD of 5/13/1. I must admit that I still use it today on all charts. Like anything else, its not 100% reliable but it does give decent signals in markets that are moving at a good clip. Roof tops and flat spots seem to be the thing to look for. Thanks for the very interesting thread. If the BK would like this method attached for evaluation , I would gladly offer it. In the mean time, I will continue to follow and work at sticking with the current method.
  • #7,338
  • Dec 7, 2016 10:01am Dec 7, 2016 10:01am
Quoting Boudain
Years back, I came across a posted method of trading based upon the modified MACD of 5/13/1. I must admit that I still use it today on all charts. Like anything else, its not 100% reliable but it does give decent signals in markets that are moving at a good clip. Roof tops and flat spots seem to be the thing to look for. Thanks for the very interesting thread. If the BK would like this method attached for evaluation , I would gladly offer it. In the mean time, I will continue to follow and work at sticking with the current method.
Yeah, you are talking about Phil Nel's method, I still use the MACD signals I learned from that method. But, i learned other ways to. MACD can be reliable, nothing like price action of course, but it can be a good signal confirmation. I like this Bk8 method I just tweaked it for my personal use. FYI.. I still use the main concept from page 1
  • #7,339
  • Dec 7, 2016 1:05pm Dec 7, 2016 1:05pm
Buy eurgbp should fullfill all the rules so far established
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  • #7,340
  • Dec 7, 2016 1:11pm Dec 7, 2016 1:11pm
And also selling gbpaud
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