I'll Show You Mine If You.....

[nkruger]

I'LL SHOW YOU MINE IF YOU SHOW ME YOURS.

I'm looking for another Dow daytrading strategy to go with the 2 that I use presently (that I've mentioned in previous posts here) Would anyone be willing to share their own home grown systems in return for my Heath Robinsons (2 off)

The 2 that I use probably trade once or twice each per week on the Dow, one primarily in the morning pre market opening and the other after about 3pm (GMT) , so I am looking for another strategy to trade in the quiet times...... ( I am also testing 2 EOD strategies as well)

The 1st relies on the fact that the Dow usually trades through its PDC at sometime during the day and the 2nd one relies on the fact that if the Dow extends itself past 0.35% of the PDC it will usually go a bit further. If we take today as an example, the PDC was 12226 so if 12269 (+0.35%x12226) is breached, we can presume with quite a high degree of accuracy that it will go a bit further. I usually look for a target of 20 pips.

Would anyone like to contribute ? Please PM me if you need to know anymore.

Nick

 

[dcraig1]

What's a PDC ?

 

[nkruger]

What's a PDC ?

It's the 'Previous Day's Close' so for the Dow today (Tuesday 20th) it would be 12226.

NK

 

[nkruger]

Just entered a long trade @ 12276 (4.37pm) as Dow went over 12269.

 

[G-Man]

Just entered a long trade @ 12276 (4.37pm) as Dow went over 12269.

Did you get your 20 pips?

G-Man

 

[brutusdog]

Trades Today

Well at least today is a bit more tradable than yesterday got caught out by the whipp then...

Have made two trades today. Long at 4:10 12265. closed at 12270! my stop signal was earlier but was out and did not have trailing stop.

Now short at 12265 at 17:50

Might have to get out now soon though?

cheers

 

[nkruger]

Well at least today is a bit more tradable than yesterday got caught out by the whipp then...

Have made two trades today. Long at 4:10 12265. closed at 12270! my stop signal was earlier but was out and did not have trailing stop.

Now short at 12265 at 17:50

Might have to get out now soon though?

cheers

What criteria are you using, Brutus Dog, to enter and exit ?

 

[nkruger]

Did you get your 20 pips?

G-Man

Not yet.... Nail biting, edge of the seat stuff eh ? Watching it with my first bottle of WifeBeater...

Just wish it would rev up and shoot off upwards !!

 

[Hook Shot]

nkuger- have you done any work on the degree of overshoot to expect once prev days close has been exceeded by 0.35% ?

 

[bluetipex]

Just entered a long trade @ 12276 (4.37pm) as Dow went over 12269.

If you're still holding it looks like you may still get a small scalp, I see we've just had a quick rally!!!

Will you still try to hold for 20 ticks?

 

[brutusdog]

What criteria are you using, Brutus Dog, to enter and exit ?

Hi nkruger,

firstly just made that up you were after

and that took me out making me down 10 ticks for the day still looks a bit over bought to me though...

Made my first trade today on a break up past earlier high, the 2nd a move away from the 100ema in the 1min chart. Sould'nt have done that as i was supposed to be be looking at the long side of the market, whoopps.

I have looked a the system you are using and if you are able to trade at the point of the move through it good, where did you get the 20 point target from, or is it just mandatory? Also i think the system you decribe should work best if the previous day was an inside bar day, what do you think?

I am also working on another system which is a crossover of moving averages but will post that later as i'm off to play football in a bit.

Enjoy the beer
:cheesy:

 

[nkruger]

If you're still holding it looks like you may still get a small scalp, I see we've just had a quick rally!!!

Will you still try to hold for 20 ticks?

Closed @ 12282 at 19.40 Not a big profit today, but no loss. Seems like it was really struggling to go above the high of the day (12290) and I want to go out now !!

 

[smccreedy]

Hi Nkruger

I posted a similar system of PDC+ a fixed % or % ATR in the mechanical systems areas.

As I said at the time to all the detractors the proof is in the pudding.

Seems you seem to be running a similar system of your own can you tell me how your one is going. Mine had drawbacks and of course many people said they'd tried it before and it hadn't worked but most people like to knock don't they.

Mine was FTSE PDC+.25% and the return on average was around 100 points per month from what I recall.

I have just moved to direct access from spread bet and am looking to get some futures data to see how well it back tests on these markets where the open can be way above the PDC with no grey overnight market to use to get entry.

I have to say I found the swings and roundabouts hard to take but I guess you are lessening that by trading it as only one of your methods.

Good luck anyhow and if you ever feel like posting past results I'd be interested to see them.

I'm sure something this simple is able to work if the operator is strict enough.

Stephen McCreedy

 

[nkruger]

nkuger- have you done any work on the degree of overshoot to expect once prev days close has been exceeded by 0.35% ?

Not really, I've only been on this strat for a couple of months and trading it for the last 3 weeks. I have a monthly pip target of 150, so if I can grab 20 out of one of these trades in a day I'm ok. Are you able to test it ? I haev no charting software, I just work with the SB companies stuff - that does me ok...

 

[bluetipex]

Closed @ 12282 at 19.40 Not a big profit today, but no loss. Seems like it was really struggling to go above the high of the day (12290) and I want to go out now !!

Well done!!

Tough hold for 3 hours!! I couldn't have done that, especially when you had to take about 20 ticks of heat.

Does your strategy have a stop loss? Have you considered a risk/reward ratio?

 

[Hook Shot]

Not really, I've only been on this strat for a couple of months and trading it for the last 3 weeks. I have a monthly pip target of 150, so if I can grab 20 out of one of these trades in a day I'm ok. Are you able to test it ? I haev no charting software, I just work with the SB companies stuff - that does me ok...

Nick
i'm interested in the system... particularly as you are happy to share the mechanics with us live..! My question isn't that important really ........... and yes I could test it but it's as boring as hell which is why it's easier to ask :cheesy:

I have no charting software either .......... don't really need it ....... I've found that everything comes to him who waits - but waiting can be difficult!

Regards

 

[nkruger]

Hi nkruger,

Also i think the system you decribe should work best if the previous day was an inside bar day, what do you think?




:cheesy:

Good morning brutusdog, Not sure what you mean ' inside bar day ' could you expand ?

Thanks, Nick

 

[nkruger]

Does your strategy have a stop loss? Have you considered a risk/reward ratio?

It doesn't have a stop/loss. I tend to watch the screen and then get a feel for the way the market is going. (like last night - it was getting a real struggle to go any higher so I just closed it off with a very small profit) I suppose when you look at the risk/reward ratio, it wasn't great yesterday, but there are some days when you will get 30 pips within 1/2 hour !! As I'm still learning, I am trying loads of daytrading / EOD strats, see which one(s) I enjoy and/or are most profitable and go ahead in that particular direction. That was the point of this thread - to add to my arsenal.....

Nick

 

[nkruger]

Well here we go again with Mr 0.35%. Not too sure about the volatility in Wall St. today, Asian markets calm, no economic news announcements, FTSE up a tad and the Dow futures down 10 pips so we might not get to our target(s) which are :

Buy at (or above) 12331 and sell at (or below) 12245

Good luck everyone.......

Nick

 

[nkruger]

What a boring afternoon - the only thing I could see was a 'PDC Trade' starting up (as there's no real big economic news at 1.30pm GMT) so I was in at 12270 at 3.30 ish with a long trade - with the expectation of a return to or close to last night's close....

Nick