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Monthly Profit - Daily Trading using SMA

  • #8,221
  • Apr 29, 2017 7:10am Apr 29, 2017 7:10am
Hello, i have been reading this thread for the last few hrs ...i reached page 35 nearly ... but its hard reading all 400 pages ... so can anyone post a summary or let me know if there has been any major changes to the original strategy posted in the beginning? ...

Wait for price to cross SM5 > enter opening of 2nd candle > stop loss few pips above high/low previous candle ...
all still same? ...
still trading only daily time frame? No H4? ...
any updates for TP strategies?

Thank you for your help
  • #8,222
  • Apr 29, 2017 5:04pm Apr 29, 2017 5:04pm
post 1 of this thread has been updated all the time, so the latest info is there.
I would only like to warn people of risking 5% of your account per trade.
in my opinion that number is far too high and could cause worry and sleepless nights.
risking 1-2% of your account is more than enough.
  • #8,223
  • Apr 29, 2017 5:20pm Apr 29, 2017 5:20pm
Quoting yonnie
post 1 of this thread has been updated all the time, so the latest info is there. I would only like to warn people of risking 5% of your account per trade. in my opinion that number is far too high and could cause worry and sleepless nights. risking 1-2% of your account is more than enough.
i see, ok thanks but one more question:
in the first post its written SMA 5,0
but while reading, i noticed that members have been discussing the SMA 5,3
so which one is being used?! 5,0?
  • #8,224
  • Edited 11:12pm Apr 29, 2017 11:01pm | Edited 11:12pm
concerning the 5sma: that changed quite a few times, but is now what is in post 1.
generally it means that we are waiting for two daily candles going in a new direction.
  • #8,225
  • Edited May 1, 2017 4:52am Apr 30, 2017 7:34pm | Edited May 1, 2017 4:52am
Hi all.
will not take a position to night. Things are a bit extreme, so I will hold my peace.
Good luck to all of you. If I had a bit more ice in the stomach, I would try E Jpy - but ---
All the best to all of you. But don't follow me. I am a learner.
  • #8,226
  • Edited 9:47am May 1, 2017 8:50am | Edited 9:47am
Quoting yanah12
{quote} My profits today. Green pips to all. {image}
Looks awesome!

Do you use the singal indicator in conjunction with bk8 strategy? Could you please share any tips for newbies - how do you pick your trades or avoid certain potential trades though it technically meets the entry criteria?

Also when do you enter into trade - is that beginning of day or is there a particular time zone that is more conducive than others? Do you keep monitoring your trades often in a day? Do you exit the trade when the signal reverses?

Any info will help..

Thank you in Advance
  • #8,227
  • May 1, 2017 4:28pm May 1, 2017 4:28pm
quite a few AUD pairs are good to go.
however A/CH has two good candles going in the new direction.
bought already yesterday, but that's not according to Bk8`s system.
buy A/CH
  • #8,228
  • May 1, 2017 5:28pm May 1, 2017 5:28pm
Thanks Yonnie.
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All the best to all of you. But don't follow me. I am a learner.
  • #8,229
  • May 1, 2017 5:32pm May 1, 2017 5:32pm
Hello.
I was thinking if NzdCad .......
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All the best to all of you. But don't follow me. I am a learner.
  • #8,230
  • May 1, 2017 5:47pm May 1, 2017 5:47pm
  • #8,231
  • May 1, 2017 11:26pm May 1, 2017 11:26pm
Quoting Oddbjorg
Thanks Yonnie. {image}
it seems to me fake break out, have to wait for confirmation.
Work Hard In Silence, Let Your Success Be Your Noise.
  • #8,232
  • May 2, 2017 2:01pm May 2, 2017 2:01pm
Quoting yonnie
quite a few AUD pairs are good to go. however A/CH has two good candles going in the new direction. bought already yesterday, but that's not according to Bk8`s system. buy A/CH
exit @ BE
  • #8,233
  • May 2, 2017 4:24pm May 2, 2017 4:24pm
Maybe we need one more candle to confirm .....
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All the best to all of you. But don't follow me. I am a learner.
  • #8,234
  • May 2, 2017 4:55pm May 2, 2017 4:55pm
tossing up between N/J and N/U.
JPY is the weaker of the two.
buy N/J
  • #8,235
  • May 2, 2017 5:19pm May 2, 2017 5:19pm
Thank you.
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All the best to all of you. But don't follow me. I am a learner.
  • #8,236
  • May 2, 2017 5:26pm May 2, 2017 5:26pm
I can see what you mean. If you should choose NJ or NU. If then U is stronger than J. Then it could look like it is best to take NJ.
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All the best to all of you. But don't follow me. I am a learner.
  • #8,237
  • Edited May 3, 2017 12:48am May 2, 2017 5:28pm | Edited May 3, 2017 12:48am
yep, you got it.........good luck
of course you could also take a halve position each in N/J and N/U.
  • #8,238
  • May 3, 2017 4:23pm May 3, 2017 4:23pm
Quoting yonnie
tossing up between N/J and N/U. JPY is the weaker of the two. buy N/J
N/J is a little under water.........hopefully will get out @ BE

AUD is weakest - USD strongest, but very large candle. wait for a day for a bit of consolidation.
don't really want to place a stop loss of 140 pips.
  • #8,239
  • May 3, 2017 4:28pm May 3, 2017 4:28pm
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All the best to all of you. But don't follow me. I am a learner.
  • #8,240
  • May 3, 2017 4:35pm May 3, 2017 4:35pm
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All the best to all of you. But don't follow me. I am a learner.
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