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Monthly Profit - Daily Trading using SMA

  • #8,541
  • Jun 15, 2017 4:27pm Jun 15, 2017 4:27pm
Quoting Hazeem
Anyone who could look more into NZDUSD ( I think THE PREVIOUSber candle formation is bearish engulfing). Stoch from overbougt hand AO is red in colour. Also. GBPNZD, anyone ton clarify that if it's a good setup.
I am bearish on N/U 1 Lot
long on Aud/Nzd
  • #8,542
  • Jun 15, 2017 4:41pm Jun 15, 2017 4:41pm
Quoting yanah12
{quote} Hi There's no candle formation, so no trade yet. IF the trade was triggered, it would have hit the stop loss. Filter your trades and save yourself from heartache. Hope it clarifies. Thanks {image}
Long pin bar is a good signal
Winners add to winning trades!
  • #8,543
  • Jun 15, 2017 4:58pm Jun 15, 2017 4:58pm
Quoting Oddbjorg
Hello Small trade ECh {image}
Hello.
Kind of stuck with ECh from yesterday. It did not go long.
We will see ...
So no more trades right now. It won't rain allways - so I'll just wait and wait
untill the kind of set-ups comes, which I can manage to overview.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_1956.PNG Size: 586 KB
All the best to all of you. But don't follow me. I am a learner.
  • #8,544
  • Jun 15, 2017 4:58pm Jun 15, 2017 4:58pm
Quoting Hazeem
{quote} Hello jmtini, what a good chart you have over there, are those blue lines drawn on ur chart psychological lines or rounded no lines? If so , kindly please upload the indicator and if any further instructions on how it could be watched. I so much like ur clean chart and the way the indicator us portrayed... If u have good support and resistance indicator that could be used too, I wouldn't mind...cheers
With pleasure. It is BRN levels. Solid line is 00 and dotted 50
Attached File(s)
File Type: mq4 mn RN.mq4   3 KB | 374 downloads
  • #8,545
  • Jun 15, 2017 5:12pm Jun 15, 2017 5:12pm
Quoting Vpa021
{quote} I am bearish on N/U 1 Lot long on Aud/Nzd
You guys are taking a real chance selling in an uptrend and buying in a downtrend. You supposed to wait for the ema cross!
  • #8,546
  • Jun 15, 2017 5:30pm Jun 15, 2017 5:30pm
Quoting jmtini
{quote} With pleasure. It is BRN levels. Solid line is 00 and dotted 50 {file}
thanks pal.....cheers
  • #8,547
  • Jun 15, 2017 6:57pm Jun 15, 2017 6:57pm
Quoting jmtini
{quote} You guys are taking a real chance selling in an uptrend and buying in a downtrend. You supposed to wait for the ema cross!
Hi Jmtini, I don't use ema. My setup is 5,0 SMA. Green pips mate
  • #8,548
  • Jun 15, 2017 7:09pm Jun 15, 2017 7:09pm
Anyone else short on N/U?
  • #8,549
  • Jun 15, 2017 7:13pm Jun 15, 2017 7:13pm
Quoting yanah12
EurUsd short today. Green pips {image}
hi yannah,

but it touch the bottom of the bolinger band, still can short for this case?
tx
  • #8,550
  • Jun 15, 2017 7:13pm Jun 15, 2017 7:13pm
Quoting Vpa021
Anyone else short on N/U?
I took it too.
  • #8,551
  • Jun 15, 2017 7:16pm Jun 15, 2017 7:16pm
Quoting jmtini
{quote} You guys are taking a real chance selling in an uptrend and buying in a downtrend. You supposed to wait for the ema cross!
It looks down trend to me.. In my chart it has crossed sma 5
  • #8,552
  • Jun 15, 2017 8:07pm Jun 15, 2017 8:07pm
Quoting kski
{quote} I took it too.
Im took the short too.

Anyone took the USDCAD Long?
  • #8,553
  • Jun 15, 2017 10:49pm Jun 15, 2017 10:49pm
Quoting Vpa021
Anyone else short on N/U?
I followed NU for a sell trade and it also form a downward trend line channel...
  • #8,554
  • Jun 15, 2017 11:23pm Jun 15, 2017 11:23pm
Quoting Vpa021
Anyone else short on N/U?
I am short Kiwi (NzdUsd) and long Yen (UsdJpy)
  • #8,555
  • Jun 15, 2017 11:32pm Jun 15, 2017 11:32pm
Hello yannah, this strategy is really amazing...I'm on green pips on EU, UJ ,then waiting for NU...I can't say how much dis ur strategy has improved my long term trading.. Thumbs up!!! Really wish u have such strategy for INTRADAY TRADING.... would have reaped alot of Benjy's..
  • #8,556
  • Jun 16, 2017 12:03am Jun 16, 2017 12:03am
Quoting kski
{quote} It looks down trend to me.. In my chart it has crossed sma 5
The 5 sma or 6 ema needs to cross the 20 sma (BB line) that's what I thought?

Anyway there's the trend line

I would long NU
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDaily.png Size: 45 KB
  • #8,557
  • Jun 16, 2017 5:39am Jun 16, 2017 5:39am
Quoting Vpa021
{quote} Hi Jmtini, I don't use ema. My setup is 5,0 SMA. Green pips mate

The 6 ema and the 5 sma basically do the same thing. The system as outlined on this thread is to take trades when the 5 sma (if want to use that setting) crosses the BB line which is the actually the 20 sma (a lot of traders don't realise it's the same value). The reason for this strategy is when this happens, it is often (not always!) a change of trend direction. To take trades when price action crosses the 5 sma is a recipe for disaster mate. Sorry
  • #8,558
  • Edited 6:09am Jun 16, 2017 5:56am | Edited 6:09am
Quoting jmtini
{quote} The 5 sma or 6 ema needs to cross the 20 sma (BB line) that's what I thought? Anyway there's the trend line I would long NU {image}
It looks to be heading in your direction for now...

Would you be able to share currency strength indicator, what is the 1st & last col(int, rank) and how do you determine stronger/weaker? - do you filter out based on that?

Thank you
  • #8,559
  • Jun 16, 2017 6:18am Jun 16, 2017 6:18am
Quoting kski
{quote} It looks to be heading in your direction for now... Would you be able to share currency strength indicator, what is the 1st & last col(int, rank) and how do you determine stronger/weaker? - do you filter out based on that? Thank you
Hi

Yes absolutely. I think it's really vital to establish what is strong/weak on the day but even better to establish what is strong on the week or month. NZD and AUD are in that category especially against Euro. I have posted the currency strength indi before on this thread. have a look about a week ago. It's the #4x 2010 forex power indi.
  • #8,560
  • Jun 16, 2017 6:22am Jun 16, 2017 6:22am
Quoting jmtini
{quote} The 6 ema and the 5 sma basically do the same thing. The system as outlined on this thread is to take trades when the 5 sma (if want to use that setting) crosses the BB line which is the actually the 20 sma (a lot of traders don't realise it's the same value). The reason for this strategy is when this happens, it is often (not always!) a change of trend direction. To take trades when price action crosses the 5 sma is a recipe for disaster mate. Sorry

Jmtini, sorry but I am afraid I do not understand, where exactly did you see that Bk8's strategy was based on sma5 crossing sma20 or Bollinger middle band?
Sure this sma20 is an important line for strategies which are based on BB but in this case, it is mentioned in post nr.1 as an option only. Should you decide to use it then for the sole purpose of avoiding potentially fake signals like going short when price action already touched the lower BB / long when touching the upper BB, that's all I guess.
I used to be indecisive but now I'm not so sure...
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