Simple Trading system for Intraday/short
My system is a combination of places. So anyone interested in joining me for backtesting is welcome...
chart settings;
Timeframe: 1 hour and 15/30 minutes (open 2 charts. 1 hour for main trend and 15/30 minutes for defined retracements)
1). EMA 5 and 12
2). SMA 70
3). Relative Strength Index 21
4).Stochastic indicator 15,3,3
5). Strategy based on opening prices and static Fibonacci numbers.
How to use;
1). Support and resistance at EMA 5 and 12
2). SMA 70 defines the trend, confirmed by RSI 21. If the price is above SMA 70 it means an uptrend, if it is below SMA 70 it means a downtrend. If the RSI 21 line is above 50 it means the market is rising, and below 50 it means the market is falling. An RSI 21 line above 70 indicates overbought, and below 30 indicates oversold.
3). Stochastic 15,3,3. Make sure that the line must remain above 60 (buy) and below 30 (sell).
All the above settings apply when the order is triggered.
Orders will follow a strategy based on opening prices and static Fibonacci numbers.
GBP/USD example opens today: 1.9634
Add a horizontal line above today's open:
HL1 = 1.9634 + 34 = 1.9668
HL2 = 1.9634 + 89 = 1.9723
HL3 = 1.9634 + 144 = 1.9778
Add a horizontal line below today's open:
HL4 = 1.9634 - 34 = 1.9600
HL5 = 1.9634 - 89 = 1.9545
HL6 = 1.9634 - 144 = 1.9490
rule:
Place a stop loss buy order at HL1, SL = today's opening, TP1 = HL2, TP2 = HL3.
Place a sell stop order at HL4, SL = today's opening, TP1 = HL5, TP2 = HL6.
If a buy stop order is executed, then the sell stop order is changed = today's opening, SL = HL1, TP1 = HL4, TP2 = HL5.
If a sell stop is executed, the opposite action is performed.
Achieved 1st place in Target 1. Then, wait for the callback. After the price retraces... place another order at Target 1. Profit on target 2.
If the price has moved about 20 pips, set the stop loss to the buy or sell price + 3. Even if a stop loss occurs... you won't close your position without reason.
Target 1 is already 50 points. From target 1 to 2 it is 100.
Sometimes we can only earn 50 points. If the market is stronger than 100 points every day. Sometimes..no deal. An average of 1,000 points per month.
The opening price will be based on Tokyo opening time. I use Tokyo because Tokyo is the first country to start opening markets.
I tried London opening hours but it was too late. But you can try it. There is no harm in it.
Good luck!
chart settings;
Timeframe: 1 hour and 15/30 minutes (open 2 charts. 1 hour for main trend and 15/30 minutes for defined retracements)
1). EMA 5 and 12
2). SMA 70
3). Relative Strength Index 21
4).Stochastic indicator 15,3,3
5). Strategy based on opening prices and static Fibonacci numbers.
How to use;
1). Support and resistance at EMA 5 and 12
2). SMA 70 defines the trend, confirmed by RSI 21. If the price is above SMA 70 it means an uptrend, if it is below SMA 70 it means a downtrend. If the RSI 21 line is above 50 it means the market is rising, and below 50 it means the market is falling. An RSI 21 line above 70 indicates overbought, and below 30 indicates oversold.
3). Stochastic 15,3,3. Make sure that the line must remain above 60 (buy) and below 30 (sell).
All the above settings apply when the order is triggered.
Orders will follow a strategy based on opening prices and static Fibonacci numbers.
GBP/USD example opens today: 1.9634
Add a horizontal line above today's open:
HL1 = 1.9634 + 34 = 1.9668
HL2 = 1.9634 + 89 = 1.9723
HL3 = 1.9634 + 144 = 1.9778
Add a horizontal line below today's open:
HL4 = 1.9634 - 34 = 1.9600
HL5 = 1.9634 - 89 = 1.9545
HL6 = 1.9634 - 144 = 1.9490
rule:
Place a stop loss buy order at HL1, SL = today's opening, TP1 = HL2, TP2 = HL3.
Place a sell stop order at HL4, SL = today's opening, TP1 = HL5, TP2 = HL6.
If a buy stop order is executed, then the sell stop order is changed = today's opening, SL = HL1, TP1 = HL4, TP2 = HL5.
If a sell stop is executed, the opposite action is performed.
Achieved 1st place in Target 1. Then, wait for the callback. After the price retraces... place another order at Target 1. Profit on target 2.
If the price has moved about 20 pips, set the stop loss to the buy or sell price + 3. Even if a stop loss occurs... you won't close your position without reason.
Target 1 is already 50 points. From target 1 to 2 it is 100.
Sometimes we can only earn 50 points. If the market is stronger than 100 points every day. Sometimes..no deal. An average of 1,000 points per month.
The opening price will be based on Tokyo opening time. I use Tokyo because Tokyo is the first country to start opening markets.
I tried London opening hours but it was too late. But you can try it. There is no harm in it.
Good luck!
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