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Monthly Profit - Daily Trading using SMA

  • #7,861
  • Feb 13, 2017 3:05pm Feb 13, 2017 3:05pm
Quoting onarticus
{quote} Hi. GU is ranging or sideways as BK8 calls it. It's also not near top or bottom BB and also the SMA is flat. I did take GA long 1 position. Slightly risky but I think Aussie will fall.
If your next candle goes in the opposite direction but doesn't hit your stop loss, do you leave the two trades open or would you close them, because a lot times on the 3rd or 4th candle the market final goes in the direction you applied for

Thanks Riese
  • #7,862
  • Feb 13, 2017 6:19pm Feb 13, 2017 6:19pm
Quoting AlexYap
{quote} so far i have done 10 trade from last week (need depends on the market, just see as many as possible pair you can) i trade with Demo account to test this strategy, i am also new in this strategy. but i test out 3 days is seen like works so i decide to share and discuss together with other, hope can get more improvement. i starting with demo account 5k to test, maybe i need more longer time to test and see the consistent of this strategy only decide to use real money. if you want to know details of set up please see the 1st thread is clear...
Thank you. Hope you continue to post your trades. It will give a different perspective. Do you keep modifying your TP throughout the day or once at the beginning of the day?
  • #7,863
  • Feb 13, 2017 6:49pm Feb 13, 2017 6:49pm
14. Febr. 2017. 02:47 gmt.
audcad
Good luck.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #7,864
  • Feb 13, 2017 7:47pm Feb 13, 2017 7:47pm
Quoting Oddbjorg
14. Febr. 2017. 02:47 gmt. audcad Good luck. Oddbj.
Hi Oddbjorg, thanks for the call with nice retracement on this pair allowing tighter S/L.
I used to be indecisive but now I'm not so sure...
  • #7,865
  • Feb 13, 2017 7:50pm Feb 13, 2017 7:50pm
Gold had 2 consecutive bearish engulfing patterns and seems to start reversal on big Fibonacci resistance.
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I used to be indecisive but now I'm not so sure...
  • #7,866
  • Feb 13, 2017 10:11pm Feb 13, 2017 10:11pm
in eur chf since 7 / 2 talk about slow going lol'
also in us /cad since the 10/2
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  • #7,867
  • Feb 14, 2017 4:37am Feb 14, 2017 4:37am
Hello. This strategy is awesome. Here are my results for 8 days. Today I am short in AUD/CAD. Good luck!
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  • #7,868
  • Feb 14, 2017 8:21am Feb 14, 2017 8:21am
Quoting AlexYap
{quote} actually TP need set to how many is up to you, i set it low is because don't want take the risk to swing and hold it long until 1day, because in a day is too many things will happend (espicially news impact) and make the market up side down but i will try test it go in 2 entry at the same time one set TP to 20pips 1 will just let it run full swing a day and see. SL setting will be same as the 1st thread say Stop Loss high(+15 Pips)/low(-15 Pips) of previous candle, if candle is too short then you may move to T-2 candle.
hhmmm...okay..so let say the previous candle is a big candle, your stoploss would be well over 100 pips. Then you need at least 8 winning trades to make up for 1 loss?
  • #7,869
  • Feb 14, 2017 1:20pm Feb 14, 2017 1:20pm
Quoting BataviaTrade
{quote} hhmmm...okay..so let say the previous candle is a big candle, your stoploss would be well over 100 pips. Then you need at least 8 winning trades to make up for 1 loss?
The method of entry of bk8 is great. His trade management strategy (1% of your capital, closing the first trade after the end of first day and letting the other run) does yield profit in the long run if you are patient with your second trade. However you should use whatever trade management that suits you. I agree i am not a big fan of taking the profit of 20pips for all trades due to higher risk.
  • #7,870
  • Feb 14, 2017 1:32pm Feb 14, 2017 1:32pm
[quote=orid;9557895]in eur chf since 7 / 2 talk about slow going lol'
Well, you took a short trade near a very strong historic support, that's the minimum one can expect.
  • #7,871
  • Feb 14, 2017 1:34pm Feb 14, 2017 1:34pm
For sure i will go long in GJ tomorow
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  • #7,872
  • Feb 14, 2017 3:16pm Feb 14, 2017 3:16pm
Do you close the Aud/Cad on a
loss or leave it?
  • #7,873
  • Feb 14, 2017 3:23pm Feb 14, 2017 3:23pm
CHF/JPY?
  • #7,874
  • Edited Feb 15, 2017 4:01am Feb 14, 2017 4:34pm | Edited Feb 15, 2017 4:01am
Quoting RieseP
Do you close the Aud/Cad on a loss or leave it?
Hello. Will let it stand untill tomorrow.
--
All the best to all of you. But don't follow me. I am a learner.
  • #7,875
  • Feb 14, 2017 4:45pm Feb 14, 2017 4:45pm
Quoting Oddbjorg
{quote} Hello. Will let it stand untill tomorrow.
What your Opinion on CHF/JPY or GBP/JPY do they comply with the rules?
  • #7,876
  • Feb 14, 2017 4:49pm Feb 14, 2017 4:49pm
Quoting RieseP
CHF/JPY?
Looks like it. ..Extreme bull candle. But I hope the prof tell us whether or not it is a setup
All the best to all of you. But don't follow me. I am a learner.
  • #7,877
  • Feb 14, 2017 5:02pm Feb 14, 2017 5:02pm
Quoting RieseP
{quote} What your Opinion on CHF/JPY or GBP/JPY do they comply with the rules?
Gbpjpy. Wish there was a line in the rules what to do with last days wick with a not to much candle.
But I think I will try a small amount because of the super sma. But don't follow me I am a learner.
All the best to all of you. But don't follow me. I am a learner.
  • #7,878
  • Feb 14, 2017 5:27pm Feb 14, 2017 5:27pm
No trade today

GA loss of 175 pips - ouch.
  • #7,879
  • Feb 14, 2017 6:33pm Feb 14, 2017 6:33pm
How about NZDJPY?
It is trending with 1 broker(fxcm) and ranging on another(Oanda). How is it in your chart? These charts look totally different.
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  • #7,880
  • Edited Feb 15, 2017 3:54am Feb 14, 2017 7:22pm | Edited Feb 15, 2017 3:54am
Quoting AlexYap
{quote} Yes, i have 3 point when is clearly show up i only will entry. just same as the 1st thread info. Long(buy) 1st - when the previous D1 bull candle's body has clearly crossed SMA upper 2nd - SMA 5 has show upward direction only 3rd - candle do not touch on the top of BB, even 1st and 2nd point is very clear but candle was reach top of BB i still not to entry Short(sell) 1st - when the previous D1 bear candle's body has clearly crossed SMA below 2nd - SMA 5 has show downward direction only 3rd - candle do not touch on the bottom of BB, even...
What SMA candle does is it? SMA[1] or SMA[0]? Meaning the previous candle or the current candle that gives point?
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