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Monthly Profit - Daily Trading using SMA

  • #8,001
  • Mar 14, 2017 12:04pm Mar 14, 2017 12:04pm
Quoting Vpa021
{quote} no deviations
Ok, thanks. So the original set up has been changed.
  • #8,002
  • Mar 14, 2017 12:10pm Mar 14, 2017 12:10pm
Do you think this is a good set up?
Attached Image (click to enlarge)
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  • #8,003
  • Mar 14, 2017 2:21pm Mar 14, 2017 2:21pm
Quoting Sanbernardin
Do you think this is a good set up? {image}
Yes San, I personally believe it is. I'm currently in that trade.

Here are my positions for today-

gbpusd short
nzdcad long
nzdusd short
usdcad long
eurnzd short
audcad long

eurusd short is another possible but I'm just watching that one from the sidelines.
  • #8,004
  • Mar 14, 2017 2:56pm Mar 14, 2017 2:56pm
Quoting Oddbjorg
14-03-2017-21:49 Hello
Hello Odd! Nice to meet you. This thread is the single most important reason I decided to join FF. I don't know what happened to BK8 but he was a true mensch for sharing this simple,amazing system with all of us. It's not perfect but it definitely is an incredible guide to help improve your trading. Odd, I hope I have enough "ice" like you at the right times. You really have helped to keep this thread alive.
  • #8,005
  • Mar 14, 2017 3:16pm Mar 14, 2017 3:16pm
Hello
I am going to try this.
Good luck all - take care.
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.
  • #8,006
  • Mar 14, 2017 3:19pm Mar 14, 2017 3:19pm
Quoting scalphunter7
{quote} Hello Odd! Nice to meet you. This thread is the single most important reason I decided to join FF. I don't know what happened to BK8 but he was a true mensch for sharing this simple,amazing system with all of us. It's not perfect but it definitely is an incredible guide to help improve your trading. Odd, I hope I have enough "ice" like you at the right times. You really have helped to keep this thread alive.
Hello and thank you.
All the best to all of you. But don't follow me. I am a learner.
  • #8,007
  • Mar 14, 2017 3:24pm Mar 14, 2017 3:24pm
Quoting Sanbernardin
Do you think this is a good set up? {image}
looks good
  • #8,008
  • Mar 14, 2017 3:27pm Mar 14, 2017 3:27pm
Quoting Maxie13
{quote} Hello Oddbjorg, Can you say when and where you went short? I think the MA5 is pretty sideways, right? Maybe I do not understand the entry yet?
Hello Maxie13
You are rigth this is not good enough explained.
I took it yesterday.
I know the candle was green. But sma 5 was pointing so well downwards, so I tried.
Sorry for not being clear on that.
Best of luck to you.
Thank you.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,009
  • Edited 3:01am Mar 15, 2017 12:45am | Edited 3:01am
Quoting Sanbernardin
Do you think this is a good set up? {image}
Hello Sanbernardin,

It might turn good however beware that last Bk8's update mentioned that the SMA5 should be at least flat or preferably oriented in the direction of the setup.
Personally I now use it exclusively in conjunction with Fibonacci retracement and Ichimoku.
and it seems we are now stuck in a S/R zone and right on Tenkan Sen so I will not take it until I get a confirmation.
Better lose some pips with a winner than a looser
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I used to be indecisive but now I'm not so sure...
  • #8,010
  • Edited 3:26am Mar 15, 2017 3:13am | Edited 3:26am
Quoting Oddbjorg
Hello I am going to try this. Good luck all - take care. {image}
Hi Oddbjorg,

Same me remark as to Sanbernardin, beware if SMA5 is going up against a short setup...
This last update from Bk8 looks fundamental to me to filter out bad signals, before long wicks etc...

Apart from this I know Ichimoku can look a bit complicated at the beginning especially vs. such a great KISS as this strategy but I would not get out without it for any pair involving a Pacific currency moreover JPY.

All the best.

P.S. I saw that on your chart SMA5 was going down. Just my 2 cents: that is very likely because your broker is not reflecting NY close but CET close.
I had the same problem and changed for a broker reflecting NY close (GMT-5 but currently -4 as Europe has not gone to daylight saving mode yet).
I think it is a very important issue because these are the charts (5 daily candles per week) the big market makers are using for their decisions. And if you are looking at something nobody is taking care of you can be completly mislead in your analysis of the markets.
Attached Image (click to enlarge)
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I used to be indecisive but now I'm not so sure...
  • #8,011
  • Mar 15, 2017 3:56am Mar 15, 2017 3:56am
Quoting Filipo1
{quote} Hi Oddbjorg, Same me remark as to Sanbernardin, beware if SMA5 is going up against a short setup... This last update from Bk8 looks fundamental to me to filter out bad signals, before long wicks etc... Apart from this I know Ichimoku can look a bit complicated at the beginning especially vs. such a great KISS as this strategy but I would not get out without it for any pair involving a Pacific currency moreover JPY. All the best. P.S. I saw that on your chart SMA5 was going down. Just my 2 cents: that is very likely because your broker...
Do you use mobile for monitoring? Would you be able to use Ichimoku in mobile?
Do you use Tradingview /oanda?
  • #8,012
  • Mar 15, 2017 4:04am Mar 15, 2017 4:04am
Quoting kski
{quote} Do you use mobile for monitoring? Would you be able to use Ichimoku in mobile? Do you use Tradingview /oanda?
Hi Kski, yes I trade and plot my charts mostly from MT4 mobile but sometimes as well from tradingview which is great but only with FXCM pricing source which look to me more representative (at least we can trust their charts .
I do not use Oanda as I prefer to avoid market makers.
I used to be indecisive but now I'm not so sure...
  • #8,013
  • Mar 15, 2017 4:36am Mar 15, 2017 4:36am
I set a sell limit at the 23 fib retracement of EJ. SL is +15 pips of previous high. Although I think this could be greatly reduced if we used some other method. Just to increase the R:R ratio, as I believe this was the drawback of this strategy.
So many in the Commercial section want to make me rich! :o
  • #8,014
  • Mar 15, 2017 4:55am Mar 15, 2017 4:55am
Quoting Filipo1
{quote} Hi Kski, yes I trade and plot my charts mostly from MT4 mobile but sometimes as well from tradingview which is great but only with FXCM pricing source which look to me more representative (at least we can trust their charts . I do not use Oanda as I prefer to avoid market makers.
Thank you Filipo1.

I am yet to start using additional indicators. Bk8's ma & bb seem just perfect for mobile. Need to start using additional indicators to see if it can help weed out false +ves..
  • #8,015
  • Mar 15, 2017 4:57am Mar 15, 2017 4:57am
Is NZDCHF a potential set up for long?

TIA
  • #8,016
  • Mar 15, 2017 5:05am Mar 15, 2017 5:05am
Quoting scalphunter7
{quote} Hello Odd! Nice to meet you. This thread is the single most important reason I decided to join FF. I don't know what happened to BK8 but he was a true mensch for sharing this simple,amazing system with all of us. It's not perfect but it definitely is an incredible guide to help improve your trading. Odd, I hope I have enough "ice" like you at the right times. You really have helped to keep this thread alive.
It is awesome that Bk8 was actively posting his positions, must have been a gr8 experience to be mentored in that fashion. Definitely Oddbjorg has kept this thread alive.. Big Thanks to Oddbjorg.

This strategy seems most promising. Wish it gets back to more chart posts so this thread is hyper active..
  • #8,017
  • Mar 15, 2017 5:44am Mar 15, 2017 5:44am
Quoting kski
Is NZDCHF a potential set up for long? TIA
For me not yet.

The current candle stick is above the SMA5 BUT:
1) it is not closed yet. In addition it is of the utmost importance to wait for the daily close today as FOMC will release its monetary policy rate decision and forecasts.
2) SMA5 is oriented downward...
3) Patience is the key. There will be more setups better miss some points in winner than entering in loosing trades.
I used to be indecisive but now I'm not so sure...
  • #8,018
  • Mar 15, 2017 6:05am Mar 15, 2017 6:05am
Quoting kski
{quote} It is awesome that Bk8 was actively posting his positions, must have been a gr8 experience to be mentored in that fashion. Definitely Oddbjorg has kept this thread alive.. Big Thanks to Oddbjorg. This strategy seems most promising. Wish it gets back to more chart posts so this thread is hyper active..
Thank you.
Like to be here, even though I am a learner.
Thank you for what you put here on the thread
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,019
  • Mar 15, 2017 6:13am Mar 15, 2017 6:13am
Quoting Oddbjorg
Hello I am going to try this. Good luck all - take care. {image}
Dear Oddbjorg,
why your screenshot on eurjpy is different from mine?
What is your set up?
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  • #8,020
  • Mar 15, 2017 6:20am Mar 15, 2017 6:20am
Quoting Filipo1
{quote} Hi Oddbjorg, Same me remark as to Sanbernardin, beware if SMA5 is going up against a short setup... This last update from Bk8 looks fundamental to me to filter out bad signals, before long wicks etc... Apart from this I know Ichimoku can look a bit complicated at the beginning especially vs. such a great KISS as this strategy but I would not get out without it for any pair involving a Pacific currency moreover JPY. All the best. P.S. I saw that on your chart SMA5 was going down. Just my 2 cents: that is very likely because your broker...
Hello
I unlucklywise have to small a knowlegde about charts, to understand your remarks about the Oanda chart I am using.
I have sometimes noticed a small difference between charts on the thread and mine.
I will look in to that, and if I may, return with questions.
Thanks for the reply.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
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