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Daily Profit - H1 Trading using SMA

  • #461
  • Jun 9, 2017 7:51pm Jun 9, 2017 7:51pm
@Oddbjørg
Now Following this Thread with Great Interest, i will start my tests on 1H TF On Monday, will be posting the Results here.
I will be using SD To filter my entries/exists to see if goes well on H1 too.


Good Weekend to all.
  • #462
  • Jun 10, 2017 3:54am Jun 10, 2017 3:54am
Quoting VictorFaria
@Oddbjrg Now Following this Thread with Great Interest, i will start my tests on 1H TF On Monday, will be posting the Results here. I will be using SD To filter my entries/exists to see if goes well on H1 too. Good Weekend to all.
That would be nice.

I must tell you though that I've been studying and testing out the strategy and I have to say with very mixed results. The problem is that especially on the lower time frames the area around the 20 sma tends to act as a dynamic area of support/resistance. Also just simply opening a trade on a crossover can often lead to stop out due to excessive volatility which often happens when the trend is changing.

That's why (I suppose) the thread is not very busy!
  • #463
  • Jun 10, 2017 5:37am Jun 10, 2017 5:37am
Quoting jmtini
{quote} That would be nice. I must tell you though that I've been studying and testing out the strategy and I have to say with very mixed results. The problem is that especially on the lower time frames the area around the 20 sma tends to act as a dynamic area of support/resistance. Also just simply opening a trade on a crossover can often lead to stop out due to excessive volatility which often happens when the trend is changing. That's why (I suppose) the thread is not very busy!
Uhm, Yes, you are 100% right, but to avoid this, i will use Entry/Exit Filter (SD), Time Filter, Pair Filter (I will study which pairs is the best ones) Also some rules regarding max orders per time to follow my trades with caution, normally i use 2% per day as my goal, which means for me only 2 trades per day, so after this i get out of the market.

In other words, when we change the TF from D1 to H1, we need to change somethings in the original strategy too, it's a completely different way to trade.
The essence is the same, but the filters may not.
This is only my humble opinion, let's see what happens, i will be glad if you follow and help me to improve this strategy.

Best regards,
Victor Faria
  • #464
  • Jun 10, 2017 10:20am Jun 10, 2017 10:20am
Quoting VictorFaria
{quote} Uhm, Yes, you are 100% right, but to avoid this, i will use Entry/Exit Filter (SD), Time Filter, Pair Filter (I will study which pairs is the best ones) Also some rules regarding max orders per time to follow my trades with caution, normally i use 2% per day as my goal, which means for me only 2 trades per day, so after this i get out of the market. In other words, when we change the TF from D1 to H1, we need to change somethings in the original strategy too, it's a completely different way to trade. The essence is the same, but the filters...
Certainly will, with pleasure.

You're going to be amazed though when I tell you my strategy. I've been trading for 8 years now and what I've done is turned everything one learns from the so-called "fx gurus" on it's head. Maybe sounds crazy but what I do now is try to take very maximum 2-3 trades a week. Yep, just 2 or maybe 3 trades a week. What they teach is that one must use money management, trade low risk (and often) and eventually you'll come out ahead. But guess what? You don't! It sounds logical but for the vast majority it's not working. Why? because instead of spending all their time looking for and finding two or three perfect set-ups, they are trying to find 20 - 30 (or sometimes a lot more) set-ups and of course failing miserably because the more often one trades, the more one loses!! Obviously I'm leveraging a lot higher for those 2 or 3 trades, but because I'm only taking extremely high probability trades (at least BE at the worst), I'm always ahead.

I do use this system but I better come clean. I use the line as a bounce/re-entry tool rather then trade break-throughs. Works a whole lot better on the lower time frames (30 min and below)

Regards
Jerry
  • #465
  • Jun 10, 2017 11:29am Jun 10, 2017 11:29am
Quoting jmtini
{quote} Certainly will, with pleasure. You're going to be amazed though when I tell you my strategy. I've been trading for 8 years now and what I've done is turned everything one learns from the so-called "fx gurus" on it's head. Maybe sounds crazy but what I do now is try to take very maximum 2-3 trades a week. Yep, just 2 or maybe 3 trades a week. What they teach is that one must use money management, trade low risk (and often) and eventually you'll come out ahead. But guess what? You don't! It sounds logical but for the vast majority it's not...
Hello Jerry,
Thank you for your comment!
Yes, you beat it again, most traders forget the reason why they are doing this, which is to be sucessul, earn money, it is not to catch the maximum possible trades in the world.
As you, i took some principals of many "gurus" and experienced traders to make my strategy, mainly regarding the Money Management which is one of the most important things when you are a trader, it is the only thing that you can control 100%.
On my Daily Strategy, im picking something around 6 - 8 Trades per week, risking 1% per trade with 70% of win rate, RR 1:1 MINIMUM, sometimes i got 1:2, 1:1,5 , but most of times i stop the trade when it reaches 1:1, if you stop to think, this return is amazing, it's completly out of real world of the people that opens a champagne when their capital grows 20% yearly.

Regarding your trading Method, how do you filter the False entries? do you selected some pairs or trade during some specific time?Also what is the % of your capital that you put on the table on each Order?

Best regards,
Victor Faria
  • #466
  • Edited 11:47am Jun 11, 2017 6:45am | Edited 11:47am
Quoting VictorFaria
{quote} Hello Jerry, Thank you for your comment! Yes, you beat it again, most traders forget the reason why they are doing this, which is to be sucessul, earn money, it is not to catch the maximum possible trades in the world. As you, i took some principals of many "gurus" and experienced traders to make my strategy, mainly regarding the Money Management which is one of the most important things when you are a trader, it is the only thing that you can control 100%. On my Daily Strategy, im picking something around 6 - 8 Trades per week, risking...
It's a difficult strategy to learn but worth it if one can master it. Reason being that the risk/reward ratio is fantastic. Based on recurring re-test of dynamic (sometimes horizontal) support/resistance areas. I've promoted this strategy a few times (see my thread "using the DASR for successful trading") but very few people were willing to spend the time to master the strategy. And yet it's so low-risk, high-reward! Here's a chart attached that might give you an idea. Yes I do have specific time, time-frame and risk reward. If you want more info, PM me.
Attached Image (click to enlarge)
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  • #467
  • Jun 12, 2017 1:56am Jun 12, 2017 1:56am
Quoting jmtini
{quote} It's a difficult strategy to learn but worth it if one can master it. Reason being that the risk/reward ratio is fantastic. Based on recurring re-test of dynamic (sometimes horizontal) support/resistance areas. I've promoted this strategy a few times (see my thread "using the DASR for successful trading") but very few people were willing to spend the time to master the strategy. And yet it's so low-risk, high-reward! Here's a chart attached that might give you an idea. Yes I do have specific time, time-frame and risk reward. If you want...
Two trades from this morning: GJ and GA

Very easy and very quick and very profitable. 60 pips in no time at all. The GA one took profit before I could post the actual trade!
Attached Image(s) (click to enlarge)
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  • #468
  • Jun 12, 2017 2:19am Jun 12, 2017 2:19am
Quoting jmtini
{quote} Two trades from this morning: GJ and GA Very easy and very quick and very profitable. 60 pips in no time at all. The GA one took profit before I could post the actual trade! {image} {image}
Here's another one - EURCAD. Actually Monday can be a very good day for this strategy. Don't know why!

Note I have a "hedging" trade above the ema up to the BRN which is what will almost certainly happen if the ema is broken through. The hedging trade will hopfully recover all the losses from the bounce trade if the Euro gets really strong and we get the breakout.
Attached Image (click to enlarge)
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  • #469
  • Jun 12, 2017 7:16am Jun 12, 2017 7:16am
@jmtini
Looks Amazing your strategy!
  • #470
  • Jun 12, 2017 7:24am Jun 12, 2017 7:24am
Guys, here is my Monday Picks.
Note: I'm doing this test on Demo Acc to feel the strategy and analyze some points.
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  • #471
  • Jun 14, 2017 6:28pm Jun 14, 2017 6:28pm
Have been keeping an eye on these.
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All the best to all of you. But don't follow me. I am a learner.
  • #472
  • Jun 16, 2017 5:51pm Jun 16, 2017 5:51pm
Quoting Oddbjorg
Have been keeping an eye on these. {image} {image} {image} {image} {image}
Hi Oddbjorg

Hope you never took any of those trades!
  • #473
  • Jun 17, 2017 2:09am Jun 17, 2017 2:09am
Hello @jmtini,

must say Ur strategy is amazing, please what do i have to do to learn it. as i am new in this forum.

thanks for getting back
  • #474
  • Edited 8:36am Jun 20, 2017 7:49am | Edited 8:36am
Hello - RiskFighter
Nice to have you on the BK8 threads

Yes, the D1 and H1 systems are alike

Keeping an eye on green candle clearly above mid bb - and sma 5 is over mid bb - then consider whether to go long
Keeping an eye on red candle clearly under mid bb - and sma 5 is under mid bb - then consider whether to go short

On D1 system I am a bit conservative and often go out or tigthen sl hard, when there have been 3 candles my way.
Why? - it's because for me, it looks like they run tired and loose power - - and hence pips.
On H1 system it can run some more candles before I take it.
The caution with wicks and sideways are also valid in the H1 system

I tried to find a pair of actual charts, so it should not only be in hindsigth - we will see if I am right on this one.

On the charts you can see that on cy - the D1 kind of making ready for a short move, but we would not go in yet. On the other hand, we could keep an eye on and consider whether or not we should take a short trade after the H1- system.

Hence while CY takes a decision whether or not it wants to go long or short, we utilize the short trip it takes.
I will try to find an example, where a good D1 set up is a continuation of H1 starting earlier as a good set up.

All the best and take care
Oddbj.

Ghibli was a good teacher :

- https://www.forexfactory.com/ghibli - please read his charts and comments over and over.
Attached Image(s) (click to enlarge)
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All the best to all of you. But don't follow me. I am a learner.
  • #475
  • Jun 20, 2017 9:39am Jun 20, 2017 9:39am
Quoting Oddbjorg
Hello - RiskFighter Nice to have you on the BK8 threads Yes, the D1 and H1 systems are alike Keeping an eye on green candle clearly above mid bb - and sma 5 is over mid bb - then consider whether to go long Keeping an eye on red candle clearly under mid bb - and sma 5 is under mid bb - then consider whether to go short On D1 system I am a bit conservative and often go out or tigthen sl hard, when there have been 3 candles my way. Why? - it's because for me, it looks like they run tired and loose power - - and hence pips. On H1 system it can run...
And the great stuff is, that if you take a 1H position and it raises to a Daily trend, then you can treat it as Daily, earning more money and you got into the trade before you would have if you only followed the Daily charts.

About getting out of the trend, for my part, I will follow an indicator which I have used for a long time: Var Mov Avg https://www.mql5.com/en/code/16492. It keeps me into the trade longer. I just have to watch those green or red dots. They are not good enough to get me into the trade - this is where Bk8 comes in, but it can keep me in the trade. At first sign of the dots changing color I get out of the trade.

This thread is not to discuss other indicators than Bk8 and I will not discuss this anymore. If people want to ask me about this indicator, they can text me privately.

All the best
MetaTrader 4 - so many advantages.
  • #476
  • Jun 20, 2017 9:49am Jun 20, 2017 9:49am
Quoting RiskFighter
{quote} And the great stuff is, that if you take a 1H position and it raises to a Daily trend, then you can treat it as Daily, earning more money and you got into the trade before you would have if you only followed the Daily charts. About getting out of the trend, for my part, I will follow an indicator which I have used for a long time: Var Mov Avg https://www.mql5.com/en/code/16492. It keeps me into the trade longer. I just have to watch those green or red dots. They are not good enough to get me into the trade - this is where Bk8...
Hello
I don't have the skill yet to do anything more than bb and sma.
If I am conservative - it works for approx 75 of the times.
But it does look interresting.
Thank you and take care.
All the best to all of you. But don't follow me. I am a learner.
  • #477
  • Jun 25, 2017 6:10pm Jun 25, 2017 6:10pm
Ga
All the best to all of you. But don't follow me. I am a learner.
  • #478
  • Jun 25, 2017 6:57pm Jun 25, 2017 6:57pm
Quoting Oddbjorg
Ga
Hello Learner,
What are you doing with GA?
  • #479
  • Jun 25, 2017 7:34pm Jun 25, 2017 7:34pm
Quoting shimmering
{quote} Hello Learner, What are you doing with GA?
Ga long.
All the best
All the best to all of you. But don't follow me. I am a learner.
  • #480
  • Jun 26, 2017 6:17am Jun 26, 2017 6:17am
EU early this morning.
Keeping an eye on, whether or not it is to late to go in more - but we will see.
All the best to all of you. But don't follow me. I am a learner.
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