Demo or live?
That would be live
Aud/usd
Order placed 26-May
Triggered Short @ .9726 31-May
Close @ .9626 2-June
Orders pending: 0
Open trades : 0
Wins:5
Losses:2
Since 6th May 2012
I Missed 1x Ib aswell which if traded would have won.
Please we should not let this thread die down, we need more trade and results. MORE ACTION PLS
Today IB’s
AUD/USD - .9977 Long
EUR/JPY - 98.78 Short
USD/CAD - IB But sma 21 To flat for me
Broker OANDA
Got stopped out on AUD/USD long trade and then price went back up, which feels kinda bad. But it’s okay. It’s part of the game.
hi everyone,anyone still using this method,am having great success,would like to hear from others.
Hi Gary,
Yeah I still trade this (have been since middle of Feb). During that time I have had 21 losses and 21 wins. Doesn’t sound too good until you realise it’s a 1:2 risk/reward ratio.
My only gripe is that you can go for long periods without any trades. That aside this has proved to be a terrific method.
It requires just a few minutes each night to scan/place trades and it doesn’t require any management of a trade once it triggers. You simply leave it until you either hit your TP or SL. It’s a shame this thread doesn’t get the kudos it deserves.
Would also love to hear from other people (good or bad) who are using this method.
hi mickey,
thanks for the reply,totally agree,i think its a great method.ive been using some extra pairs as well as tobys 8 and they all have been working well.
im waiting tonight for eur/aud eur/gbp and usd/jpy although bit concerned about news releases tomorrow…
Yeah I’m already in on usd/jpy from a few days a go. Pending orders for me are eur/gbp, gbp/chf (and aud/usd from a few days ago).
As for news releases, well I decided when I first started with this method, that I wouldn’t pay any attention to them and just trade them regardless, (although I don’t trade on NFP days and any UK/USA public holidays). I don’t know how my stats would have differed if I decided not to trade on news release days.
What I can say is I am over 21% up on my demo account in a little over 5 months. Not stellar I know, but what I am happiest with, is that the fact it has been mostly steady growth. Plus I’m only risking 1%. If/when I go live, I will be looking to risk 2%, which of course would have meant a 42% increase in about 5 months. Now that’s not too shabby!
I’ve never had more than of 4 or 5 losses in a row. I often find both wins and losses come in spurts.
How long have you been trading this? Are you live or demo? How successful have you been?
i must admit i only demoed for 3 weeks and backtested countless pairs,i had been scalping live for about 4 months but decided that sitting in front of a screen for upto 8 hours a day wasnt for me.
i went live with this last week and had 5 from 5 although i did decrease my s/l and t/p more than happy to take between 50 and 80 pips.
what are your thoughts .
i am also considering compounding.
Well I compound (up as well as down if I have lost a trade) and in my opinion that is the way to go. How often you do this is a matter of personal choice. I have a spreadsheet which allows me to compound after every trade, which I prefer.
If the 50 - 80 pips works for you than stick with it.
One thing I do find subjective about this method, is the interpretation of the SMA line. Toby basically said “21 SMA must be trending up and not flat” for buy trades and down for sells. But what do you consider to be up? For example if the SMA has been flat for a number of candles but then suddenly starts going up steeply for 2 or 3 candles, does that mean it’s "trending up? Are we looking at the very end of the line or do we take more of it into consideration?
It’s the one thing that I have trouble with.
Great system, by the looks of it.
Thanks for sharing.
One question only, if it has already been asked, sorry for repeating it: what do you look at when deciding if it is an inside bar, the open and close price or the high and low?
Thanks in advance.
hi poseidonn,the high and low is what your looking for…
Thanks for the quick response… let the testing begin 
And one stupid question, but I don’t seem to find the answer: The SMA is applied to what? Close, open, something else?
Thanks again.
no problems,where all in this together.
the sma is your indicator for the trend,enter a trade providing the sma is trending up or down.
I got this…but you have multiple options for setting up the sma… it can be applied to the close of the day, the open, the high, the low…when you add it, it gives you multiple options and I was wondering what is the right one for this system.
you need to set it to 21.
SMA is 21, simple and applied to close.