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Monthly Profit - Daily Trading using SMA

  • #7,941
  • Feb 22, 2017 3:34am Feb 22, 2017 3:34am
Do you close your trade same day or hold for few days (assuming it goes against)? Do you do 2 orders for each pair as Bk8 recommended?

Green pips to all!
  • #7,942
  • Feb 22, 2017 5:15am Feb 22, 2017 5:15am
Quoting Oddbjorg
{quote} Hello Besides sma 5 I sometimes have a look at sma 3, and see if they cross on the candle. It was in the Bk8 strategy in the beginning, but the strategy was then changed to, that it is not needed, because they could see the moving of the prices without. But sometimes I just have a look. I am not sure, and please don't follow me, but I interpreted this crossing of lines as it was ok to trade because the trend would continue, even though it was so close to lower and upper bbs. Do you understand a word of what I am writing - --? -- or else...
ok.thank your for your explaination.


correct me if im wrong.from the beginning,the SMA setting that teach by Bk8 is
SIMPLE MOVING AVERAGES PERIOD 5,SHIFT 0 I copy paste his comment as below:

"I am sharing the simplest strategy for stress free day trading, I have ever seen anywhere else

Indicators

 

  1. SMA 5,0
  2. BB (Optional)"



but somehow,he just giving another setting for the MOVING AVERAGES SETTING as below:


"@Raj - @bcmaggs is right, I have only one SMA (Period - 5, Shift -3).
Normally I ignore small candle but if I do not find better opportunity then I take risk with small candle too.
To be honest with you, I am still learning..thats why I tried to experiment something unique during BREXIT and lost all previous profits but recovering very fast now..
I think there is no short cut formula for long term profits. So I decided to trade on D1 chart only and spend 10% max of account value."

For your information,the setting shift "0" and "3" will give a high impact on cross over candle to moving averages

I do make a study on this, if there is a setup,setting shift "0"-candle will cross over and setting with shift"3" will be not cross over.please see attachment

MY QUESTION IS

WHAT IS THE RIGHT SETTING FOR THIS SMA 5?THANK YOU

Attached Image (click to enlarge)
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  • #7,943
  • Edited 6:11am Feb 22, 2017 5:55am | Edited 6:11am
Quoting kski
Do you close your trade same day or hold for few days (assuming it goes against)? Do you do 2 orders for each pair as Bk8 recommended? Green pips to all!
Hello
Trying to have the ice to keep the rules
I do 2 trades for the most part.

Good luck
All the best to all of you. But don't follow me. I am a learner.
  • #7,944
  • Feb 22, 2017 7:14am Feb 22, 2017 7:14am
Quoting ErollZach
{quote} ok.thank your for your explaination. correct me if im wrong.from the beginning,the SMA setting that teach by Bk8 is SIMPLE MOVING AVERAGES PERIOD 5,SHIFT 0 I copy paste his comment as below: "I am sharing the simplest strategy for stress free day trading, I have ever seen anywhere else Indicators SMA 5,0 BB (Optional)" but somehow,he just giving another setting for the MOVING AVERAGES SETTING as below: "@Raj - @bcmaggs is right, I have only one SMA (Period - 5, Shift -3). Normally I ignore small candle but if I do not find better opportunity...
Hello
I set one Sma line that is 5 and one that is 3
On my post 7839 you can see that sma 3 and sma 5 cross each other on the last candle
On your chart I think your candles are sideways - am I wrong? - then it would not be a set up

Good luck
All the best to all of you. But don't follow me. I am a learner.
  • #7,945
  • Feb 22, 2017 7:19am Feb 22, 2017 7:19am
I have been trading in a similar way, moving averages are simple but can do wonders , also longer time frame lets you filter all garbage indicator and news information.
Thought writing an EA but manual trading was more than enough since longer TF
  • #7,946
  • Feb 22, 2017 2:48pm Feb 22, 2017 2:48pm
Wedn. 22-02-2017-22:47
Hello
EurChf
Attached Image (click to enlarge)
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All the best to all of you. But don't follow me. I am a learner.
  • #7,947
  • Feb 22, 2017 3:03pm Feb 22, 2017 3:03pm
Quoting Oddbjorg
Wedn. 22-02-2017-22:47 Hello EurChf {image}
Hello,

This looks nice, but I am now almost afraid to buy EUR, since it appears to be in a dowtrend.
Also, the price action seems to be moving sideways. Todays setup seems very similar to the one 9 days ago.... It looks like the 1.067 is acting as a strong resistance.
What do you think?

(Please note that I am just thinking out loud, Im just a learner with little experience.... )
  • #7,948
  • Feb 22, 2017 3:28pm Feb 22, 2017 3:28pm
Wed 22 Feb

NZDCAD Long 1 position
  • #7,949
  • Feb 22, 2017 3:34pm Feb 22, 2017 3:34pm
Quoting tritono666
{quote} Hello, This looks nice, but I am now almost afraid to buy EUR, since it appears to be in a dowtrend. Also, the price action seems to be moving sideways. Todays setup seems very similar to the one 9 days ago.... It looks like the 1.067 is acting as a strong resistance. What do you think? (Please note that I am just thinking out loud, Im just a learner with little experience.... )
Hello
I do understand your concern about this being sideways and that this pair is in a downtrend. But I kind of thought this would be ok. We will see.
All the best to all of you. But don't follow me. I am a learner.
  • #7,950
  • Feb 22, 2017 3:35pm Feb 22, 2017 3:35pm
Quoting onarticus
Wed 22 Feb NZDCAD Long 1 position
I AM BEARISH BIAS..imho
Say something meaningful or Silence!!
  • #7,951
  • Feb 22, 2017 3:38pm Feb 22, 2017 3:38pm
Quoting classy
{quote} I AM BEARISH BIAS..imho
Hello
I don't know what bias is. Will you please explain.
Thank you.
All the best to all of you. But don't follow me. I am a learner.
  • #7,952
  • Feb 23, 2017 12:17am Feb 23, 2017 12:17am
need to have a lot of patience ,or ice as oddbjorg puts it with this method ,if you stick with the SL rule if it goes against you it usually comes back even if it means exit at
be
Regards Orid
  • #7,953
  • Feb 23, 2017 12:25am Feb 23, 2017 12:25am
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  • #7,954
  • Feb 23, 2017 6:31am Feb 23, 2017 6:31am
almost stopped out for - 115 pips now back to BE after 6 days, this has happened a few times, no losses yet but no big wins also
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  • #7,955
  • Feb 23, 2017 1:23pm Feb 23, 2017 1:23pm
Long nzdusd
  • #7,956
  • Feb 23, 2017 1:43pm Feb 23, 2017 1:43pm
Thurs 21 Feb

NZDUSD BUY 2 poisitions
  • #7,957
  • Feb 23, 2017 2:00pm Feb 23, 2017 2:00pm
Thanks for sharing your system.
  • #7,958
  • Edited 3:38pm Feb 23, 2017 2:57pm | Edited 3:38pm
Quoting Oddbjorg
Wedn. 22-02-2017-22:47 Hello EurChf {image}
23-02-2017-22:56
Eurchf was wrong yesterday.
I am going to let it birn for while longer. It is not so close to sl according to rules
All the best to all of you. But don't follow me. I am a learner.
  • #7,959
  • Feb 23, 2017 3:27pm Feb 23, 2017 3:27pm
Is this a valid setup - for short?

TIA
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  • #7,960
  • Feb 23, 2017 4:00pm Feb 23, 2017 4:00pm
Quoting kski
Is this a valid setup - for short? TIA {image}
Hello. Looks like it could be. But on my chart yesterdays candle has longer wicks. So ..
Good luck.
All the best to all of you. But don't follow me. I am a learner.
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