My Intraday Strategy (30 Mins Chart)
Hi, I'm Glade, I made my first post on this forum, I learned a lot from it, I saw great effort, I hope you will see my strategies helpful to you..
5 indicators we will use in our strategy
1) ATR (14)
We will add 2 levels 1) 0.0017
2)0.0006
2) Relative Strength Index (14)
3) Pivot point
4) Pingquanlu
5) Parabolic SAR
The strategy is very simple, I look for entry points when price hits or breaks my ATR level
1) I will wait until a reversal occurs. For example: If the price is bullish, I will wait until 2 indicators show bearish a) Parabolic b) Heiken Ashi
2) I would see RSI confirming that the price is oversold or overbought and rising either above or below the 50 level
3) I calculate my loss and profit by determining my stop loss and take profit before entering the trade. If I go long, my stop loss is the nearest support level and my take profit is the next level from the pivot point. I calculate the loss and profit and I don't enter the trade unless my profit is at least twice the loss.
Here are some examples:
http://i153.photobucket.com/albums/s202/btbt/trades.jpg
I want to enter a trade when the price hits my level and I have to wait for the Parabolic and Heiken price reversals. The first trade is bearish at the time and I wait until the Parabolic and Heiken are bullish. I enter a long trade with a stop at the nearest support and take profits at the blue line of the pivot.
Trade No. 2 has the same profit as the yellow line Senario
Trade No. 3 Red Line Profit Taking
Trade No. 4 was profitable on the blue line, but I did not enter because the profit was not twice the loss
Trade No. 5 Blue Line Profit Taking
Trade No. 6 Yellow Line Previous Day Profit Taking
As you can see the strategy works and you can trade with it almost every day I hope I was able to help a little and if any questions come up I'll be happy to answer them thank you.
5 indicators we will use in our strategy
1) ATR (14)
We will add 2 levels 1) 0.0017
2)0.0006
2) Relative Strength Index (14)
3) Pivot point
4) Pingquanlu
5) Parabolic SAR
The strategy is very simple, I look for entry points when price hits or breaks my ATR level
1) I will wait until a reversal occurs. For example: If the price is bullish, I will wait until 2 indicators show bearish a) Parabolic b) Heiken Ashi
2) I would see RSI confirming that the price is oversold or overbought and rising either above or below the 50 level
3) I calculate my loss and profit by determining my stop loss and take profit before entering the trade. If I go long, my stop loss is the nearest support level and my take profit is the next level from the pivot point. I calculate the loss and profit and I don't enter the trade unless my profit is at least twice the loss.
Here are some examples:
http://i153.photobucket.com/albums/s202/btbt/trades.jpg
I want to enter a trade when the price hits my level and I have to wait for the Parabolic and Heiken price reversals. The first trade is bearish at the time and I wait until the Parabolic and Heiken are bullish. I enter a long trade with a stop at the nearest support and take profits at the blue line of the pivot.
Trade No. 2 has the same profit as the yellow line Senario
Trade No. 3 Red Line Profit Taking
Trade No. 4 was profitable on the blue line, but I did not enter because the profit was not twice the loss
Trade No. 5 Blue Line Profit Taking
Trade No. 6 Yellow Line Previous Day Profit Taking
As you can see the strategy works and you can trade with it almost every day I hope I was able to help a little and if any questions come up I'll be happy to answer them thank you.
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