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Monthly Profit - Daily Trading using SMA

  • #8,241
  • May 3, 2017 4:39pm May 3, 2017 4:39pm
as I mentioned earlier in the thread, I`m always a bit weary of trading off one fat candle in the new direction.
I rather see two decent daily candles in a new direction.
I have more faith that the new direction will hold after 2 daily candles than only 1 daily candle.
BK8 must have come to the same conclusion and that`s why he probably stipulated that the 5sma has to turn in the new direction
before placing a trade.
  • #8,242
  • May 3, 2017 4:42pm May 3, 2017 4:42pm
Quoting yonnie
as I mentioned earlier in the thread, I`m always a bit weary of trading off one fat candle in the new direction. I rather see two decent daily candles in a new direction. I would have more faith that the new direction will hold after 2 daily candles than only 1 daily candle. BK8 must have come to the same conclusion and that`s why he probably stipulated that the 5sma has to turn in the new direction before placing a trade.
Hello
Yes I understand. One more red on AN would be better to wait for?
Thank you.
All the best to all of you. But don't follow me. I am a learner.
  • #8,243
  • Edited 8:35pm May 3, 2017 4:45pm | Edited 8:35pm
A/N might certainly be successful with 2 candles in the new direction.
watch the red news out today though.

just sold A/N @ 1.0776
N/J out @ BE
  • #8,244
  • May 4, 2017 1:49am May 4, 2017 1:49am
GBPUSD
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I used to be indecisive but now I'm not so sure...
  • #8,245
  • May 4, 2017 4:13pm May 4, 2017 4:13pm
[quote just sold A/N @ 1.0776 [/quote]
A/N is a little under water: placed trade @ BE
  • #8,246
  • May 4, 2017 4:28pm May 4, 2017 4:28pm
Quoting yonnie
as I mentioned earlier in the thread, I`m always a bit weary of trading off one fat candle in the new direction. I rather see two decent daily candles in a new direction. I have more faith that the new direction will hold after 2 daily candles than only 1 daily candle. BK8 must have come to the same conclusion and that`s why he probably stipulated that the 5sma has to turn in the new direction before placing a trade.
I am trading slightly different from Bk8.
when I place a trade, I want to make sure as much as possible that the new direction will hold.
that`s why my entry criteria are a little stricter than Bk8`s.

not only do I want to see 2 decent candles in the new direction, but price also has to break the high/low of the 2nd candle before entering.
in this way you will avoid trades which turn around after 2 candles.
you will also be able to trade when the 2nd candle has a larger wick, because price has to break the high/low of the 2nd candle before we enter.
for people who like to watch their trades, you could let price take out the high/low and aim for a little retrace of say 20 pips from the high/low
to get in at a better price (to see more, look up Feb2865 part I).

am reluctant to share my trades here, because its not 100% according to Bk8`s system. what do you guys think?
  • #8,247
  • May 4, 2017 4:58pm May 4, 2017 4:58pm
Quoting yonnie
{quote} . am reluctant to share my trades here, because its not 100% according to Bk8`s system. what do you guys think?
Dont see any problem posting improvements based on same Bk8's for better/safer trades...anyway, Bk8 will have enough time to remove the post from this thread in case he want it.
  • #8,248
  • May 4, 2017 6:33pm May 4, 2017 6:33pm
Quoting yonnie
{quote} I am trading slightly different from Bk8. when I place a trade, I want to make sure as much as possible that the new direction will hold. that`s why my entry criteria are a little stricter than Bk8`s. not only do I want to see 2 decent candles in the new direction, but price also has to break the high/low of the 2nd candle before entering. in this way you will avoid trades which turn around after 2 candles. you will also be able to trade when the 2nd candle has a larger wick, because price has to break the high/low of the 2nd candle before...
Hello Yonnie. I would beleive as you're trying to make the positions you take more safe, it would be ok with Bk8.
I also think it is good when you say it, when/if and how it differs. I think he would say ok.
Thank you.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,249
  • May 4, 2017 6:34pm May 4, 2017 6:34pm
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All the best to all of you. But don't follow me. I am a learner.
  • #8,250
  • May 4, 2017 8:38pm May 4, 2017 8:38pm
hello Oddbjorg,

be aware of the French election on Sunday and EUR might be very volatile after the weekend.
maybe close the euro trades before the weekend?
  • #8,251
  • May 4, 2017 8:53pm May 4, 2017 8:53pm
Quoting yonnie
[quote just sold A/N @ 1.0776
A/N is a little under water: placed trade @ BE[/quote]
A/N just closed @ BE.
  • #8,252
  • May 5, 2017 5:14am May 5, 2017 5:14am
Quoting yonnie
hello Oddbjorg, be aware of the French election on Sunday and EUR might be very volatile after the weekend. maybe close the euro trades before the weekend?
Yes thank you.
I have closed all - ok +pips.
Have a nice weekend.
All the best to all of you. But don't follow me. I am a learner.
  • #8,253
  • May 7, 2017 8:04pm May 7, 2017 8:04pm
No trade. Keeping an eye on cad pairs.
Good luck to all of you this week.
All the best to all of you. But don't follow me. I am a learner.
  • #8,254
  • May 8, 2017 2:42pm May 8, 2017 2:42pm
Can someone explain why you exit trade at break even if it first goes against you?
Surely most trades go against you a little at the beginning!
  • #8,255
  • May 8, 2017 3:03pm May 8, 2017 3:03pm
Quoting Burtsfolly
Can someone explain why you exit trade at break even if it first goes against you? Surely most trades go against you a little at the beginning!
I'd enter at the 50% or 63%

Below gives a good example
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So many in the Commercial section want to make me rich! :o
  • #8,256
  • Edited 5:50pm May 8, 2017 5:37pm | Edited 5:50pm
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Watching Chf pairs
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All the best to all of you. But don't follow me. I am a learner.
  • #8,257
  • May 8, 2017 11:21pm May 8, 2017 11:21pm
Quoting FX-Flux
{quote} I'd enter at the 50% or 63% Below gives a good example {image}
Very Interesting. Thankyou.
  • #8,258
  • May 9, 2017 10:42am May 9, 2017 10:42am
just wanna say this system is doing well on my real account.

right now i'm on audnzd and nzdchf still floating in profit.

tq Bk9 for the technique.

happy making pips for everyone.

  • #8,259
  • May 9, 2017 10:57am May 9, 2017 10:57am
Quoting b_ballerz2k
just wanna say this system is doing well on my real account. right now i'm on audnzd and nzdchf still floating in profit. tq Bk9 for the technique. happy making pips for everyone.
bk8 not bk9
  • #8,260
  • May 9, 2017 11:44am May 9, 2017 11:44am
Quoting mizi123
{quote} bk8 not bk9
oh yeah Bk8 sorry typo
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