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Monthly Profit - Daily Trading using SMA

  • #7,381
  • Dec 9, 2016 7:17am Dec 9, 2016 7:17am
Hi Bk8,

I know you mentioned in post #1 that Bollinger Bands are optional and I wonder if they are in fact of any use with this strategy.
I used to be indecisive but now I'm not so sure...
  • #7,382
  • Dec 9, 2016 8:57am Dec 9, 2016 8:57am
Quoting 2apocalypse
Why BB is optional? Bk8,on your live account you have had a decrease until -30%. What happened in that time? U changing something?
That's when everyone lost their profits
So many in the Commercial section want to make me rich! :o
  • #7,383
  • Dec 9, 2016 9:17am Dec 9, 2016 9:17am
same goes with me.... almost MC.. but still survive.
  • #7,384
  • Dec 9, 2016 9:36am Dec 9, 2016 9:36am
Quoting Filipo1
Hi Bk8, I know you mentioned in post #1 that Bollinger Bands are optional and I wonder if they are in fact of any use with this strategy.
When I tested, BB did not make huge difference
  • #7,385
  • Dec 9, 2016 9:39am Dec 9, 2016 9:39am
Quoting 2apocalypse
Why BB is optional? Bk8,on your live account you have had a decrease until -30%. What happened in that time? U changing something?
Multiple reasons like I took risk more than 10% and ignored red news etc.
Lets see how it goes in next few months.
  • #7,386
  • Dec 9, 2016 11:44am Dec 9, 2016 11:44am
I would suggest to modify and integrate post 1, which in itself can be misleading. Infact it does not contain a lot of information which can greatly affect the decision of opening a trade, for example the importance of the momentum, the avoiding of red news, the consideration of important support/resistence levels, the opportunity of evaluating the trend.
  • #7,387
  • Dec 9, 2016 8:49pm Dec 9, 2016 8:49pm
Can anyone confirm below setup? How to filter this false signal?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADDaily.png Size: 36 KB
  • #7,388
  • Dec 10, 2016 5:08pm Dec 10, 2016 5:08pm
Quoting hurairah01
Can anyone confirm below setup? How to filter this false signal? {image}
I do not think you should try to filter out anything just because of one or two loosing set up. Its part of the business expense.

I am a beginner. I think i would have taken a smaller long position because the green candle did not break highs of previous three days( if I understand it correctly, bk8 refers this as sideways pattern). I wouldn't have taken the next short signal as the price went nowhere in the last two days.

expert advice please?
  • #7,389
  • Dec 10, 2016 6:50pm Dec 10, 2016 6:50pm
Quoting hurairah01
Can anyone confirm below setup? How to filter this false signal? {image}
Is it about the bars in the candle?
All the best to all of you. But don't follow me. I am a learner.
  • #7,390
  • Dec 11, 2016 12:03am Dec 11, 2016 12:03am
Quoting Oddbjorg
{quote} Is it about the bars in the candle?
yes... however.. refer to the rules, it considered as no trade. Mislook the rules.
  • #7,391
  • Dec 11, 2016 12:06am Dec 11, 2016 12:06am
Quoting Peter81
{quote} I do not think you should try to filter out anything just because of one or two loosing set up. Its part of the business expense. I am a beginner. I think i would have taken a smaller long position because the green candle did not break highs of previous three days( if I understand it correctly, bk8 refers this as sideways pattern). I wouldn't have taken the next short signal as the price went nowhere in the last two days. expert advice please?
yes.... mislook the rules....need to study this system deeper . Agreed with your... loosing 1 or 2 trades should not affect the dicipline. Thanks for the advise.
  • #7,392
  • Dec 11, 2016 12:48pm Dec 11, 2016 12:48pm
Quoting hurairah01
Can anyone confirm below setup? How to filter this false signal? {image}
SMA is mighty close to the middle Bollinger, which incidentally is indicating an uptrend. The middle band is notorious for support and resistance. Look at the difference in the long opportunity directly after your example, it only momentarily stays below the middle BB on the downside. When it crosses up it takes out both 5 SMA and Bollinger, closing above both. A sign of strength.
'in less than half an hour he made over 100 ticks'
  • #7,393
  • Dec 11, 2016 1:53pm Dec 11, 2016 1:53pm
Quoting hurairah01
{quote} yes... however.. refer to the rules, it considered as no trade. Mislook the rules.
Because of sideways?
All the best to all of you. But don't follow me. I am a learner.
  • #7,394
  • Dec 11, 2016 3:42pm Dec 11, 2016 3:42pm
Hi everyone,

NU is my preferred pair to start this week.
Happy trading.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2016-12-11-22-34-08.png Size: 172 KB
I used to be indecisive but now I'm not so sure...
  • #7,395
  • Dec 11, 2016 4:41pm Dec 11, 2016 4:41pm
What about long on UJ? There is quite a bit of red news on the yen tomo tho
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 20 KB
  • #7,396
  • Dec 11, 2016 6:01pm Dec 11, 2016 6:01pm
Quoting Bk8
{quote} NZD/JPY first setup gave 30 pips profit and second setup is running Todays Setup Long CAD/JPY
Closed CAD/JPY with 86 pips profit, Second Setup of N/JPY is still running with 65 pips profit.

Today's Setup
Long USD/JPY
  • #7,397
  • Dec 11, 2016 6:03pm Dec 11, 2016 6:03pm
Just FYI - All sudden my trade explorer started showing very weird stats...I had to delete it.
  • #7,398
  • Dec 11, 2016 6:06pm Dec 11, 2016 6:06pm
Quoting Bk8
{quote} Closed CAD/JPY with 86 pips profit, Second Setup of N/JPY is still running with 65 pips profit. Today's Setup Long USD/JPY
What are your thoughts on the 3 items of red news coming up on the yen?
  • #7,399
  • Dec 11, 2016 6:28pm Dec 11, 2016 6:28pm
Quoting flylohudmo
{quote} What are your thoughts on the 3 items of red news coming up on the yen?
I did not see any upcoming red news
  • #7,400
  • Dec 11, 2016 6:31pm Dec 11, 2016 6:31pm
Quoting Bk8
{quote} I did not see any upcoming red news

Sorry, I'm looking at next week - apologies
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