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Monthly Profit - Daily Trading using SMA

  • #8,121
  • Mar 31, 2017 6:55am Mar 31, 2017 6:55am
What i have observe from experience signals wich market gives on start of the week allways take down to the end of the week.. to weekly range's are very important
  • #8,122
  • Edited 12:53pm Mar 31, 2017 6:57am | Edited 12:53pm
Hello
Bk8 H1 system D1 system
But after 3 candles D1 system sometimes get tired . . . will maybe change . . .

Just to show how you can follow a currency pair...and think back...was I rigth ...or was I wrong...
was it sideways...to many wicks. .....was I to late . . . . . . And so on.... happy weekend.


now it is 18 51
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All the best to all of you. But don't follow me. I am a learner.
  • #8,123
  • Mar 31, 2017 4:03pm Mar 31, 2017 4:03pm
Quoting mizi123
These was the idea, rules are to open 2 trades per same setup. 1st trade you close with bancking some pips and 2nd one you leave to run forever. So if you enter without any clue you can't aim to catch pips for the first trade. In these way when Daily candle is the same with 1H chances are huge to catch pips from fist trade these photos down are best prove! {image}
mizi - would you be able to share your indicator/template.. or point to the thread which has it?

Your setup and observation seem to be great.

TIA
  • #8,124
  • Apr 2, 2017 6:49pm Apr 2, 2017 6:49pm
No trade for me. Have a nice week.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,125
  • Apr 3, 2017 7:02pm Apr 3, 2017 7:02pm
Hello
4. Apr. 2017 01:02
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All the best to all of you. But don't follow me. I am a learner.
  • #8,126
  • Edited 6:34am Apr 4, 2017 5:43am | Edited 6:34am
Cadjpy 04 04 2017 12 30 gmt

Taking trade 1) 50 pips letting 2) run
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All the best to all of you. But don't follow me. I am a learner.
  • #8,127
  • Edited 11:58am Apr 4, 2017 11:41am | Edited 11:58am
Hello
04 04 2017 17 40 gmt
Did close cadjpy 2) closed with a little less pips than trade 1)

Have been looking at gbpchf - gbpjpy - audchf - long candle and wick

Maybe the candles are so long, that the pair is tired on its downtrend.

gbpusd - a bit sideways - but I will try a small amount trade



All the best to all.
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All the best to all of you. But don't follow me. I am a learner.
  • #8,128
  • Apr 4, 2017 9:36pm Apr 4, 2017 9:36pm
Hi

How about EurCad? Monday candle closed as bullish engulfing.
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  • #8,129
  • Apr 4, 2017 11:38pm Apr 4, 2017 11:38pm
Quoting yanah12
Hi How about EurCad? Monday candle closed as bullish engulfing. {image}
SMA is not in the same direction, so probably not
  • #8,130
  • Apr 5, 2017 1:16am Apr 5, 2017 1:16am
Hi, guys.

Haven't visited this post for about 4 months, but I'm glad to see that this thread is still alive. It seems that Bk8 haven't logged in forexfactory since January, I hope he's OK. I guess, I'll give this strategy another try. Have any of you guys finally been consistent with this strategy? I'll do some back testing with new "what to avoid" rules.
  • #8,131
  • Apr 5, 2017 3:27am Apr 5, 2017 3:27am
Quoting yanah12
Hi How about EurCad? Monday candle closed as bullish engulfing. {image}
Hi Yanah12, in addition it seems there was a rejection from the Bollinger middle band like the trend is changing after the strong March 28 reversal so as Brian661 I would keep aside .
I used to be indecisive but now I'm not so sure...
  • #8,132
  • Apr 5, 2017 3:38am Apr 5, 2017 3:38am
Quoting Filipo1
{quote} Hi Yanah12, in addition it seems there was a rejection from the Bollinger middle band like the trend is changing after the strong March 28 reversal so as Brian661 I would keep aside .
As a matter of fact the rebound was right on 38.2 Fibo.
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I used to be indecisive but now I'm not so sure...
  • #8,133
  • Apr 6, 2017 2:28pm Apr 6, 2017 2:28pm
Good evening dear traders,

I have been following this topic for quite a while and started reading from the start last week (at page 150 now). Very interesting topic. Decided to have a go on a demo-account for a while. Checked all my graphs just; might this be a nice opportunity forming? Little worried about the long-wick though...

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  • #8,134
  • Apr 7, 2017 1:23am Apr 7, 2017 1:23am
Quoting henri2500
Good evening dear traders, I have been following this topic for quite a while and started reading from the start last week (at page 150 now). Very interesting topic. Decided to have a go on a demo-account for a while. Checked all my graphs just; might this be a nice opportunity forming? Little worried about the long-wick though... {image}
There not much space toward the bottom BB,
hence I will skip it.

And to my experience, whenever there is such a large candle, it usually followed with a retrace.
  • #8,135
  • Apr 8, 2017 7:00pm Apr 8, 2017 7:00pm
Hi guys, i am a little bit uncertain about entry. Do i wait for a new candle to form after the cross or i enter on the one being crossed?
  • #8,136
  • Apr 8, 2017 8:43pm Apr 8, 2017 8:43pm
Quoting ghostman10
Hi guys, i am a little bit uncertain about entry. Do i wait for a new candle to form after the cross or i enter on the one being crossed?
Hello
No 1 in my chart is at the end of a tradingday 15 febr.
No 2 in the next chart is the finished trading day 16 febr.

So the candle which is finished to be formed a the end of 15 febr tradingday, (1)
was the one which layed the ground for making a trade in the
beginning of 16 febr tradingday, which ended up like (2)

May be some one else can explain more and better.
Good luck and take care.

Oddbj.
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All the best to all of you. But don't follow me. I am a learner.
  • #8,137
  • Apr 9, 2017 11:27am Apr 9, 2017 11:27am
Hello Everyone,

I have been trading for a few years now without any success or losses thankfully. Partly because I was trading stocks and options which are hard to trade if you work full time as we all know. Loving fX 24 hr very much and this strategy is just amazing.

I'm following only 8 pairs. I like to keep things simple. Out of those Eur/GBP is looking like a good opportunity to go long on if it breaks above 4/25 high.

What are you trading?
  • #8,138
  • Apr 9, 2017 11:44am Apr 9, 2017 11:44am
Quoting ghostman10
Hi guys, i am a little bit uncertain about entry. Do i wait for a new candle to form after the cross or i enter on the one being crossed?
Hi Ghostman10, as Bk8 mentioned in post 1 you should enter ideally at the opening of the next candle after the one having crossed sma5 has closed.
In case you missed it then I agree with Mizi123' recommendation to enter according to H1 showing similar setup in the same direction as on the daily setup.
I used to be indecisive but now I'm not so sure...
  • #8,139
  • Apr 9, 2017 11:46am Apr 9, 2017 11:46am
Quoting henri2500
Good evening dear traders, I have been following this topic for quite a while and started reading from the start last week (at page 150 now). Very interesting topic. Decided to have a go on a demo-account for a while. Checked all my graphs just; might this be a nice opportunity forming? Little worried about the long-wick though... {image}

Funny that you post a chart like this one, with a very large candle going in the direction of the next set up. After reading many pages on this thread and seeing examples like this one I asked myself. Doesn't it look like waiting until the candle post in order to open a position the next day seems like a lot of risk little reward? Has anyone tried entering after the current candle breaks through previous support or resistance?

PS. I know this system trading strategy consist of only spending 15 - 20 mins of your day posting the trade. Don't get upset not trying to break any rules .
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  • #8,140
  • Apr 9, 2017 12:57pm Apr 9, 2017 12:57pm
Quoting osvelqbano
{quote} Funny that you post a chart like this one, with a very large candle going in the direction of the next set up. After reading many pages on this thread and seeing examples like this one I asked myself. Doesn't it look like waiting until the candle post in order to open a position the next day seems like a lot of risk little reward? Has anyone tried entering after the current candle breaks through previous support or resistance? PS. I know this system trading strategy consist of only spending 15 - 20 mins of your day posting the trade. Don't...

Hi Osvelqbano, your remark is absolutely correct for me. This may look like a mechanical system because the rules are simple but that does not exempt us from turning on our brain from time to time and take a step backward to have a more panoramic view. From my experience I agree with you that very often large candlesticks are followed by retracements of approximately 50-60%. In these cases more than ever it is necessary to split your total size into 2 positions: 1 at the opening of the next candle after sma cross but with a huge stop-loss and another one at 50% retracement of the previous candle with a shorter stop-loss.
I used to be indecisive but now I'm not so sure...
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