Trading With No Candles, MA crosses only
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Thread: Trading With No Candles, MA crosses only

  1. #1
    I opened a 30 day demo account for your Metatrader platform. In this experiment I have made my screen all one colour and I am likely to trade from those 10 and 21 Smoothed Moving Average Close only.

    Within my other accounts I use alternative procedures, but I only wish to see the outcome and reliability of MA crosses. So here are the rules to date...

    1. The timeframes will be 1 hr, 4 hr or the daily. I am going to school full time so I must take what I can get.

    2. Stop losses will be put at the top/bottom of the 10 MA.

    3. Take profits nevertheless must be decided, but right now I am thinking of 20 pips or 50 pips. Another possibility is to set the TP in the 55, 100 or 200 but I do not know yet.

    4. I use the 200 MA for an indiion of the leadership of the trend, I do not think too much in counter-trend and that I will set my TP according to the direction of the 10/21 and 200. For instance, if the 200 is trending up (price average rising ) and the 10/21 cross down, then I probably will continue to keep the TP little, and vice versa.

    5. Too many people become trapped in the mindset in that they have a rigid TP degree. I like to maintain my pips, thank you very much.

    6. I can post the trades on here and the results when I take the trade, time allowing.

    7. Most trades will probably be on the 1 hr with regard to the 4 hr and daily.

    8. I am not interested in anybody's negative remarks. THIS IS AN EXPERIMENT TO SATISFY MY CURIOSITY.

    9. My demo account has $5 million, however, lot sizes will be limited to 1 lot per trade. I use leverage simply to increase my margin cushion, NOT TO INCREASE POSITION SIZES. To do otherwise is simply foolish, and a fool and his money are soon parted.

    10. I will probably only trade the aud/usd, eur/usd, gbp/usd and the aud/jpy, eur/jpy, and gbp/jpy pairs.

    11. I will set this account on myfxbook as soon as I can.

    12. I may add rules

    13. I really don't know how to post screenshots, so if anybody knows how, please let me know.


    A lot of people say MA's do not have predictive power, but I believe they do. You only need to be patient and watch and wait for the installation. Another poster remarked that price goes too far from the 100 and 200 day MA's but I argue that price does finally come back, hence the term average. Markets overshoot all of the time.

  2. #2
    Sold 1lot gbp/jpy @ 133.02, actually was 133.13 with their 11 pip spread on this pair. Holy Cow!! Eleven pip spread????

    Stop at 133.50
    take profit at 132.50

  3. #3

  4. #4
    If you're likely to trade purely according to MA crossovers, I could already tell you you're likely to make or lose money depending on whether you'll have more trending or ranging markets respectively during your testing interval. A commonly accepted statistics is that markets have a tendency to chop 70 percent of the time. You do the math...

    While this might be fun to try on a demo, I would be cautious with actual money.

    Btw, if you would like to post screenshots, then you just have to right click in a chart in MT4 and choose Save Picture...

  5. #5
    The 3 /jpy pairs closed using a cross

    aud/jpy offered at 76.09 using a stop in 78.02

    eur/jpy offered at 109.39 using a stop in 112.38

    gbp/jpy offered at 133.02 using a stop in 135.47

    I will shut TP when the 10 crosses back on the 21 and stops will be moved to break at least once the transaction is in adequate profit.

    It's intriguing to note that by setting the stop at the top of this 10 MA there is a 200 pip gap in the StopLoss price from the hourly rate to the daily timeframe.

  6. #6
    DHB,

    you are right about the direction of this market, and I'd never do this on actual cash. Just curious is all.

  7. #7
    All four transactions at the money right now.

  8. #8
    Fine, I'm up $1200 already, normally I'd chicken out and take some cash off the table but I will continue to adhere to the plan.

    Nevertheless not enough to move stops to breakeven however

  9. #9
    Trade No. 1, gbp/jpy 1hr cross closed overnight to get a 52 pip profit, and another 3 trades are all up well.

    The eur/usd is seeking to cross tonight or in the upcoming few days next week. The 10 ma to get gbp/usd and aud/usd are pointing down as well.

    One important thing is that the gbp/usd broke significant support overnight. It had bounced this off service about 6 times. Of course, in this experimentation that is not a factor like it would be in actuality, however it's bearish.

  10. #10
    Trades 2, 3, and 4 went to 100 pips profit as well as the P/L was almost $3,000 once I logged on yesterday morning. Within the course of the afternoon all 3 trades retraced, with all the eur/jpy being the sole trade nevertheless in the currency.

    So far...

    1. Employing a MA cross looks good for entrance, but maybe not so good for exits (at least not yet.) These 3 trades are on the daily, so they'll be open more.

    2. Entering a short transaction when price is currently at a support level, it is to be expected that there will be a retracement early on. There may even be a complete reversal, which explains the reason why the rule is to close the transaction when the 10 MA crosses back over the 21 MA. I am using the stop just in case of a big spike. This is also where DHB was right about chopping markets.

    3. Only using MAs there is NO way to tell where a support/resistance level is.

    So the trades are still living, and that I will post whenever there are changes.

    One installment I am watching is the eur/usd 10 is beginning to point down and is closing the distance towards the 21. If the average price keeps dring lower then I expect a cross towards the middle of next week.

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