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Monthly Profit - Daily Trading using SMA

  • #7,781
  • Feb 2, 2017 3:11pm Feb 2, 2017 3:11pm
E/N found resistance on 21ema. Goodnight guys
  • #7,782
  • Feb 2, 2017 3:24pm Feb 2, 2017 3:24pm
Quoting RieseP
E/N found resistance on 21ema. Goodnight guys
Please correct me but ema levels and resistance etc isn't part of this system?
  • #7,783
  • Feb 2, 2017 3:49pm Feb 2, 2017 3:49pm
Quoting onarticus
{quote} Please correct me but ema levels and resistance etc isn't part of this system?
Hello. Maybe the boss would say something about wicks, and that sma has to point upwards to go long.
well...hope some prof comes and teach us about this one. Good you got profit on the other pair.
All the best to all of you. But don't follow me. I am a learner.
  • #7,784
  • Feb 3, 2017 12:45am Feb 3, 2017 12:45am
The boss? He left this thread to itself!
  • #7,785
  • Feb 3, 2017 2:28am Feb 3, 2017 2:28am
Quoting ricki72
The boss? He left this thread to itself!
We'll just stay positive and learn from the former posts...he will be back..
All the best to all of you. But don't follow me. I am a learner.
  • #7,786
  • Feb 3, 2017 6:47am Feb 3, 2017 6:47am
Quoting onarticus
{quote} Please correct me but ema levels and resistance etc isn't part of this system?
You correct, However systems are not consistent. I try to use all the data I know to find areas of confluence. All fairness if you have the correct money management then you can afford to take losses.

I just know that market rythm takes action around 21 89 200 and 365 ema or sma. I didn't try and remove the topic from this strategy I just trying to give extra guidance to areas of confliction. After all it's your money on the line
  • #7,787
  • Feb 4, 2017 11:38am Feb 4, 2017 11:38am
Quoting Filipo1
Hi Bk8, what happened to your Oanda's account summary please? Will you replace it?
Hello Bk8, in case you still read posts on your thread: so no more trading journal on this strategy?
I used to be indecisive but now I'm not so sure...
  • #7,788
  • Feb 4, 2017 11:40am Feb 4, 2017 11:40am
Quoting Bk8
{quote} Will share soon, stay tuned
Hello again Bk8, ok we stayed tuned but where are we now please?
I used to be indecisive but now I'm not so sure...
  • #7,789
  • Feb 4, 2017 4:27pm Feb 4, 2017 4:27pm
OK, I think I understand this. Read nearly the entire thread. And this will be a good First trading strategy. I understand whats going on following momentum.

What broker are you all using??

I want to start this up with virtual money immediately.

Since this only requires 15 minutes a day do you day trade other strategies in the spare time?

What is a T-2 candle?

What is start up I have 300 dollars, is that enough?
  • #7,790
  • Feb 5, 2017 3:32am Feb 5, 2017 3:32am
Quoting hworang
OK, I think I understand this. Read nearly the entire thread. And this will be a good First trading strategy. I understand whats going on following momentum. What broker are you all using?? I want to start this up with virtual money immediately. Since this only requires 15 minutes a day do you day trade other strategies in the spare time? What is a T-2 candle? What is start up I have 300 dollars, is that enough?
Hello and welcome. Hope bk8 or some of the prof will answer. I am but a learner. Try to find Ghibli in the tread. I am learning a lot of what he is writing. Bk8 likes it if we just write a note of our trading results. Good and bad. Good luck.
All the best to all of you. But don't follow me. I am a learner.
  • #7,791
  • Edited 9:13am Feb 5, 2017 7:35am | Edited 9:13am
Quoting hworang
OK, I think I understand this. Read nearly the entire thread. And this will be a good First trading strategy. I understand whats going on following momentum. What broker are you all using?? I want to start this up with virtual money immediately. Since this only requires 15 minutes a day do you day trade other strategies in the spare time? What is a T-2 candle? What is start up I have 300 dollars, is that enough?
Hi hworang,

We are all learners here.
Regarding T-2 candle I guess you are referring to S/L level.
The rule as I understand it is that you must position S/L +/- 15 pips above/below high/low of the candlestick that crossed the SMA5. Should that crossing candlestick be insignificant by its size you would apply same rule to previous one. In this case given that you are supposed to enter your position right at the opening of the next candlestick after the one having crossed the SMA you would have your S/L fixed above/below candlestick T-2 from entry point.
In the chart below the high of crossing candlestick is at 1.2708 so your S/L should be set at 1.2723 initially, then you should trail your S/L to the next candlestick in the direction of the setup after its close. In the example below your S/L should now be trailed down to 1.2538 + 0.0015 = 1.2553.
It can be huge at times so better manage the sizing of your trades to avoid over exposure.
The most funny is that I forgot to trail my S/L up after buy entry so now I am a bit trapped myself. Just to avoid any confusion I must confess my entry was based on H4 which is not recommended by Bk8 as mentionned in post #1. Gladly it is a small amount so no big pain . From the chart below obviously the strategy is to sell at at the opening of Feb 03 at 1.2521.
All the best.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_0035.PNG Size: 225 KB
I used to be indecisive but now I'm not so sure...
  • #7,792
  • Feb 5, 2017 5:12pm Feb 5, 2017 5:12pm
06-02-2016 01:11 gmt
No trade. I seldom find any convincing setup mondays for me.
Good luck to all.
Thank you.
All the best to all of you. But don't follow me. I am a learner.
  • #7,793
  • Feb 5, 2017 8:21pm Feb 5, 2017 8:21pm
Agree... I don't see anything good..

wheres bk8??
  • #7,794
  • Feb 6, 2017 6:16am Feb 6, 2017 6:16am
Quoting DjPriz
Agree... I don't see anything good.. wheres bk8??
He abandoned us..
  • #7,795
  • Feb 6, 2017 11:26am Feb 6, 2017 11:26am
Not found any entries for me this evening either.
  • #7,796
  • Feb 6, 2017 12:15pm Feb 6, 2017 12:15pm
Quoting ghostman10
{quote} He abandoned us..
The poor fella is probably just on holiday, without his phone attached to him 24/7. Give him some time he will be back. He's only been gone 2 weeks.
  • #7,797
  • Feb 6, 2017 2:03pm Feb 6, 2017 2:03pm
My trade for today -'usdcad long
  • #7,798
  • Feb 6, 2017 3:07pm Feb 6, 2017 3:07pm
Small amount audchf. Concerned about wick.
All the best to all of you. But don't follow me. I am a learner.
  • #7,799
  • Feb 6, 2017 6:19pm Feb 6, 2017 6:19pm
hey guys! so I've been looking at this thread for awhile now and always seem to come back to it. I was wondering how profitable this system is for you guys that are still on here posting trades like Oddbjorg. Like how many pips since you started trading this system or how many pips weekly/daily
  • #7,800
  • Feb 6, 2017 6:49pm Feb 6, 2017 6:49pm
Quoting jmarr94
hey guys! so I've been looking at this thread for awhile now and always seem to come back to it. I was wondering how profitable this system is for you guys that are still on here posting trades like Oddbjorg. Like how many pips since you started trading this system or how many pips weekly/daily
Lost more than I made, but I'm a beginner. What keeps me here is fine tuning trade selection, as I have made more pips with this strategy then any other method.
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