T2W Trading Strategy

[kimo'sabby]

I took a little long at 15:50 after the low looked like it had been rejected. Bailed out about 10mins later when it looked like it was still going south. Done for the day now, down 4pts. First loss I've taken for over a week. Run's come to an end - they always do

I used to take losses personally, these days i couldn't give a flying feck as long as making overall. Slog on dude.

 

[robster970]

I used to take losses personally, these days i couldn't give a flying feck as long as making overall. Slog on dude.

Not in the zone today. Tomorrow's another day. Third time lucky for you by the looks of it now.

 

[gooseman]

half an hour before the dow close buy the digital daily up/down whichever is the teeny.

 

[kimo'sabby]

Not in the zone today. Tomorrow's another day. Third time lucky for you by the looks of it now.

Hopefully mate. I throw the towel in at b/e today and have a little nibble tommoz.

 

[megamuel]

Some individual trades being thrown in here which is great but not really the idea I was going for. So far we have:

1. Only trade EUR/USD
2. Enter on the hour at the flip of a coin
3. 25 point stop / 50 point take profit

So lets add something or change something to improve it. Someone mentioned support and resistance. Maybe we can use that, but how will we define support and resistance?

 

[hwsteele]

Some individual trades being thrown in here which is great but not really the idea I was going for. So far we have:

1. Only trade EUR/USD
2. Enter on the hour at the flip of a coin
3. 25 point stop / 50 point take profit

So lets add something or change something to improve it. Someone mentioned support and resistance. Maybe we can use that, but how will we define support and resistance?

Well I have notice over quite some time that the EUR/USD likes the round numbers. i.e. 1.2300, 1.2350, 1.2400.
The market does seem to move in multiples of 25 pips and most of the time (at least lately) 50 pips at a time.
As such rule 3 does seem like a good idea.
I don't really like rule 2 as is.
Getting into a trade every hour would just be over trading which is a killer IMHO.
Maybe a trade entry when the market takes a turn within 10 pip of a round number you enter the direction that the market turned with a 50 pip target and 25 pip stop loss?

Really should be more refined than that but it would be better than the current rule 2 again IMHO.

 

[Sang Froid]

How about the issue of T/F. Like someone said trading on the hour every hour is a killer for overtrading but what T/F or multiples are you looking at?

This idea of coin flipping isn't gonna work out for too long. How about.... Heiken Ashi bars, only enter a trade after 3 consecutive colours for trend confirmation, and only enter in direction of trend if confirmed by Parabolic Sar?

 

[HawkTrader]

Well I have notice over quite some time that the EUR/USD likes the round numbers. i.e. 1.2300, 1.2350, 1.2400.
The market does seem to move in multiples of 25 pips and most of the time (at least lately) 50 pips at a time.
As such rule 3 does seem like a good idea.
I don't really like rule 2 as is.
Getting into a trade every hour would just be over trading which is a killer IMHO.
Maybe a trade entry when the market takes a turn within 10 pip of a round number you enter the direction that the market turned with a 50 pip target and 25 pip stop loss?

Really should be more refined than that but it would be better than the current rule 2 again IMHO.

1) Trading EURUSD,

2) Check charts when the market opens on Sunday evening (BST),

3) Check where price is in relation to the nearest round number on the H1 chart (100s)

4) Buy/Sell 5 pips above/below the round number, for example if the nearest round number is 1.2400 for a sell, then enter at 1.2395

5) SL goes 25 pips above/below entry,

6) Choice of partial TP or trailing at 0.50,

7) TP and reverse entry at the 100 level again - so in that example, we entered at 1.2395 and would exit our short at 1.2305 and enter long,

8) Obviously the market doesn't just stick in a range between two points forever, so one can add some filters if they like depending on their trading abilities, HrH/LrLs, Support/Resistance, Weekly High/Lows, Dow Theory, Fundamental Analysis, whatever floats your boat really!!

 

[kimo'sabby]

Well I have notice over quite some time that the EUR/USD likes the round numbers. i.e. 1.2300, 1.2350, 1.2400.
The market does seem to move in multiples of 25 pips and most of the time (at least lately) 50 pips at a time.
As such rule 3 does seem like a good idea.
I don't really like rule 2 as is.
Getting into a trade every hour would just be over trading which is a killer IMHO.
Maybe a trade entry when the market takes a turn within 10 pip of a round number you enter the direction that the market turned with a 50 pip target and 25 pip stop loss?

Really should be more refined than that but it would be better than the current rule 2 again IMHO.

Just to add to your post mate, look for 150pip ranges on eurdol, these are good for fading around sr if a trader is into that type of thing.

 

[mrsoul]

EURUSD only. Enter on the hour. 25 point stop loss, 50 point take profit. Flip a coin for direction.

:clap:

Unfortunately, flipping coins does not work.

I wish it was that easy.

In your example it is, statistically, twice as likely that your SL gets hit than your TP.
Therefore, there is no statistical edge to setting r/r of 1:2, 1:3, etc.

Better off spending your time on a set-up that works.

 

[Sang Froid]

Unfortunately, flipping coins does not work.

I wish it was that easy.

In your example it is, statistically, twice as likely that your SL gets hit than your TP.
Therefore, there is no statistical edge to setting r/r of 1:2, 1:3, etc.

Better off spending your time on a set-up that works.

I concur. How about a similar system that might give a slight edge then?

SMA 25 period, H1 chart, everytime price crosses and candle closes below or above SMA: either long if from below, and short if from above?

25 pip S/L 50 pip T/P

KISS

 

[Mr Flibble]

My cat gives some damn fine trading signals. I have 2 a black one and a tabby. When the black one comes up and meows twice I'm done for the day. If I persist in trading after the exit signals I always lose badly.

 

[Sang Froid]

My cat gives some damn fine trading signals. I have 2 a black one and a tabby. When the black one comes up and meows twice I'm done for the day. If I persist in trading after the exit signals I always lose badly.

Do you have an ea for this?

And if the tabby coughs up a hairball it's a signal to average down?

 

[hwsteele]

My cat gives some damn fine trading signals. I have 2 a black one and a tabby. When the black one comes up and meows twice I'm done for the day. If I persist in trading after the exit signals I always lose badly.

Are you sure you aren't just saying that because it was your 222 post?

 

[megamuel]

Are you sure you aren't just saying that because it was your 222 post?

Maybe its a sign..... *Goes to attach 222 period moving average to all charts* :whistling

 

[da-net]

I concur. How about a similar system that might give a slight edge then?

SMA 25 period, H1 chart, everytime price crosses and candle closes below or above SMA: either long if from below, and short if from above? 25 pip S/L 50 pip T/P KISS

I like your rule ideas! Recently (can't remember where) I read a study that found most traders can't tell which way the market is going. So how about a couple filters;

Use a SMA on 4Hr charts to confirm what stage (Weinstein) the market is currently in; position of SMA relative to price (above or below) This will provide direction, either long, short or in a range. Explanation below from a google website search.(http://web.streetauthority.com/cmnts/mp/2004/03-22-sox.asp)

"The concept says that every stock or index sequentially moves through four stages: Basing (I), Advancing (II), Topping (III) and Declining (IV). Furthermore, this cycle is repeated over and over again throughout time. The four stages provide a roadmap that help investors identify not only where a stock or index is at now, but also where it's headed in the future."

After direction of trading is confirmed, draw TLs on the chart for finding an entry. Next drop TF to 5Min charts; add 2 EMAs that will keep you in the trade until they cross or a TL break.

Place SL below or above previous swing on 5Min bars.Trade in direction of Trend ONLY, NO CounterTrend!! Trade small until you get use to it.

btw...I personally prefer a 20SMA on the 4Hr. and EMAs on the 5Min.

 

[lbranjord]

One fun strategy is to go through all your charts for the Rangiest, piece of crap market and slap on the Slope Directional Line period 20. Trade the opposite of the color. When the line turns red, watch the bar sink until it seems to get stuck and then buy. When the line turns blue, wait for price to get stuck and then sell.

You can put your stops where ever, have good risk/reward like 2to1 or 3to1 and you should be ok.

Doing the wrong thing feels so right!

 

[Proverbs]

Hello,

Can anyone recommend a good tutorial on Nasdaq Level II Total View?? Thanks...

 

[Chartsy]

lol try to mechanically trade trends...... like H4 EURUSD....50/200 crossed up and sloping...buy when stochastics oversold/rsi, stop loss 3/4 ATR. i don't do this but its buying dips in a trend mechanically

 

[Chartsy]

there was a FTSE 100 strategy around a thread here:

when H4 5/10 ema is crossed upwards and stochastics overbought/turning up...go to the 5 minute chart, wait for MACD to go negative once,, wait for 4 positive bars- buy 12 pips target 15 pip stop loss. dont know if it works though