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Monthly Profit - Daily Trading using SMA

  • #8,021
  • Mar 15, 2017 9:19am Mar 15, 2017 9:19am
Quoting Filipo1
{quote} 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 {image}
Hey Filipo! Can you please confirm that BK8 no longer advocates the SMA 5,3 (3 being the recommended deviation)? Someone said it's now SMA 5 with no deviation. Thanks in advance!
  • #8,022
  • Mar 15, 2017 9:26am Mar 15, 2017 9:26am
Quoting Sanbernardin
{quote} Dear Oddbjorg, why your screenshot on eurjpy is different from mine? What is your set up? {image}
Hello
Thanks for replying.
Yes I have noticed, that our charts are not alike. I have also noticed this before.
Maybe it would be nice to be able to look between the two of them, and see if there is something we can learn.
In post no. 8011 you can see, that Fillipo1 has a explanation about it.
Good luck
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,023
  • Mar 15, 2017 9:58am Mar 15, 2017 9:58am
Just a little note to you BK8 friends.

There is an election in Holland -

I don't know why it is not in the major news here, or I have not seen it.
My EurJpy trades are suffering.
So a good mingle of ice and keeping an eye on it - is what I will do for now.
All the best to all of you. But don't follow me. I am a learner.
  • #8,024
  • Mar 15, 2017 10:07am Mar 15, 2017 10:07am
Quoting Oddbjorg
{quote} Hello Thanks for replying. Yes I have noticed, that our charts are not alike. I have also noticed this before. Maybe it would be nice to be able to look between the two of them, and see if there is something we can learn. In post no. 8011 you can see, that Fillipo1 has a explanation about it. Good luck Oddbj.
Thank you for your reply.
Solution found, thank you to Filippo 1' post.
The timing was not set on New York.
Now the screenshots are alike.
We have learned something out of it
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  • #8,025
  • Mar 15, 2017 11:54am Mar 15, 2017 11:54am
this is not system related, but is merely a trade for the rate hike, short eur/usd pair. rate hike is a sure thing in 1 hour time.
  • #8,026
  • Mar 15, 2017 12:22pm Mar 15, 2017 12:22pm
Quoting scalphunter7
{quote} Hey Filipo! Can you please confirm that BK8 no longer advocates the SMA 5,3 (3 being the recommended deviation)? Someone said it's now SMA 5 with no deviation. Thanks in advance!
Hi Scalphunter7,
That is correct.
In case of doubts please refer to post #1 showing the last updated version left by Bk8.
In fact many members and Bk8 got the conviction from experience that the cross with SMA5,3 was worthless.

Happy trading.
I used to be indecisive but now I'm not so sure...
  • #8,027
  • Mar 15, 2017 12:30pm Mar 15, 2017 12:30pm
Quoting Filipo1
{quote} Hi Scalphunter7, That is correct. In case of doubts please refer to post #1 showing the last updated version left by Bk8. In fact many members and Bk8 got the conviction from experience that the cross with SMA5,3 was worthless. Happy trading.
Thanks so much Fil!
  • #8,028
  • Mar 15, 2017 12:51pm Mar 15, 2017 12:51pm
Quoting FX-Flux
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.
Indeed. Sometimes (read "very big engulfing") the R:R is not worth the trade. Taking all signals blindly is too risky.
Personally, I'm still using it as a good indicator, but with many corrections to filter out the bad ones.
  • #8,029
  • Mar 15, 2017 1:01pm Mar 15, 2017 1:01pm
Quoting ErikH
{quote} Indeed. Sometimes (read "very big engulfing") the R:R is not worth the trade. Taking all signals blindly is too risky. Personally, I'm still using it as a good indicator, but with many corrections to filter out the bad ones.
Hey Erik, I hope all is well. Can you please suggest some filters to help avoid "the baddies"? Thanks in advance.
  • #8,030
  • Mar 15, 2017 2:10pm Mar 15, 2017 2:10pm
Hello
I tried BK8's other strategy based on 1 H chart.
But it even made a daily inpact. 80 pips.
If you don't know what I mean by Bk8 1 H strategy. Just let me know.
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All the best to all of you. But don't follow me. I am a learner.
  • #8,031
  • Mar 15, 2017 2:29pm Mar 15, 2017 2:29pm
Hello
EuJpy from yesteday.
Now is the time to close trade 1) I think. And let 2) run with sl 15 pips.
Now I am packing my things for today, not being greedy, and hold my peace for today.
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All the best to all of you. But don't follow me. I am a learner.
  • #8,032
  • Mar 15, 2017 7:05pm Mar 15, 2017 7:05pm
Thanks Filipo1 & Oddbjorg.

Is this a valid short setup - USDCAD?

TIA
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  • #8,033
  • Mar 15, 2017 7:35pm Mar 15, 2017 7:35pm
Quoting kski
Thanks Filipo1 & Oddbjorg. Is this a valid short setup - USDCAD? TIA {image}
yes sir
  • #8,034
  • Mar 15, 2017 7:51pm Mar 15, 2017 7:51pm
Quoting Vpa021
{quote} yes sir
ThanQ Vpa021
  • #8,035
  • Mar 15, 2017 9:51pm Mar 15, 2017 9:51pm
Quoting Oddbjorg
Hello I tried BK8's other strategy based on 1 H chart. But it even made a daily inpact. 80 pips. If you don't know what I mean by Bk8 1 H strategy. Just let me know. {image} {image}
Odd, can you please explain and/or point me in the direction of the BK8 strategy based on the 1H chart? Thanks.
  • #8,036
  • Mar 16, 2017 3:12am Mar 16, 2017 3:12am
@scalphunter

https://www.forexfactory.com/showthread.php?t=605254

1H thread
  • #8,037
  • Mar 16, 2017 3:23am Mar 16, 2017 3:23am
Quoting Oddbjorg
Hello If you don't know what I mean by Bk8 1 H strategy. Just let me know. {image} {image}
Oddbjorg, please give me details please. Would like to have template
Thank you
  • #8,038
  • Mar 16, 2017 4:14am Mar 16, 2017 4:14am
Hi Everyone,

I am working full time now and i was thinking to study and start trading on daily chart...Its been week i am working on daily chart and i found Bk8 system and thought to give it a try...i took a screenshot of audusd chart and marked it. Now i want to know that which candle is the entry candle...can someone help me please? As per the rules and my understandings so far is that candle 4 is the entry candle because of sma angel...

Attached Image (click to enlarge)
Click to Enlarge Name: audusd-d1-axicorp-financial-services.png Size: 22 KB


please correct me if i am wrong...

thanks
  • #8,039
  • Mar 16, 2017 5:03am Mar 16, 2017 5:03am
Quoting scalphunter7
{quote} Odd, can you please explain and/or point me in the direction of the BK8 strategy based on the 1H chart? Thanks.
BK8 has two threads.
One is about profit with bb 20,2 and sma 5 on a daily chart. This thread is about that one

The other is about profit with bb 20,2 and sma 5 on an hourly chart.
Go to this link to see about that one.

https://www.forexfactory.com/showthr...71#post9669971

This time I was so lucky, that the hourly chart inpacted the daily one so much, that it didn't not only give hourly profit but daily as well.

Well, you can study over on that thread, and we can communicate on that thread, if you have a question og remark on that strategy.

Good luck
All the best to all of you. But don't follow me. I am a learner.
  • #8,040
  • Mar 16, 2017 5:53am Mar 16, 2017 5:53am
Quoting shg
Hi Everyone, I am working full time now and i was thinking to study and start trading on daily chart...Its been week i am working on daily chart and i found Bk8 system and thought to give it a try...i took a screenshot of audusd chart and marked it. Now i want to know that which candle is the entry candle...can someone help me please? As per the rules and my understandings so far is that candle 4 is the entry candle because of sma angel... {image} please correct me if i am wrong... thanks
Oddbjorg and other seasoned experts in this strategy -
Is beginning of 3 a valid entry point? If 5 opens in upward direction - would that still be valid long position?

shg - nice?. Answers from experts should give better insight
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