Wait for EMA cross. Wait for price to re-join the newly formed trend and close away from EMA8. Enter at market in the direction of the trend or place a pending order around EMA8.
Enjoy managing you trade. Just away from the furthermost price from point 3. Manage manually Do check D7 to avoid buying into weekly resistance or selling into weekly support.
Weekly resistance is in 1. Not great, but some may like it Thanks for sharing and will looking into this strategy. Anything that will keep me away from been glued to the computer is hihly welcomed. I was just thinking about that. Normally, I would fish for RR of about 2. If PA permits, would go for some pyramiding not an expert, though I have been using it for a couple of weeks and have increased my profit margin. Still need to tweek to fit my style of trading.
I have did some back testing on this method using forex tester. When placing a trade I placed two trades with second not having a take profit, when the first trade hits the target I set the second trade to break even. I do this to try and catch a run. I am posting the statistics and a screen shot of some of the trades. Elegantly simple, easy for me to grasp..
Should fit nicely to net more than 25PIPs - for 5 Trades- at least 24hrs. Right on time for me! I'll give it test-run for the Tokyo Open.. Does anyone have results they would like to post? I notice the pairs with JPY have been very bullish on the Daily. I have entered some of the trades with good results. This is a nice 'n easy strategy. The thing I like about it the most is that it requires no indicators, unless you classify moving averages as indicators, which I guess technically no pun intended they are.
This is very similar to Todd's No Name Strategy with the only difference being a 34 ema vs. He's still searching for a name, so put your thinking caps on. Wanting a Day-time frame strategy and will test this one. Do like the simple ones: Thank you for sharing Milutin!
This is the reason why I love to read the forum - I am learning a lot from everybody! H4 and H1 are most often the best time frames, usually H4. Please do your own analysis but I would begin any intermediate-term strategy which uses indicators with H4 signals. Big money pays attention to D1, H4, and H1; their day traders tend to pay more attention to H1; whereas, their position traders tend to pay more attention to D1.
Jeff has taught a few strategies that exploit D1 and W1 setups. He did use H1 or H4 as the controlling TF, and he frequently used M5 for entries and trade management. I personally prefer to trade W1 and D1 setups as consecutive waves off H1. Actually, upon further reflection on what BD and E wrote as well as my own response , I need to revise my position.
Although it's true that one could enter sooner into a big move off H1, it's also true that a potential, big move most likely will have greater momentum provided the intermediate- to long-term trends of H1 and H4 or D1 are in alignment.
Stated another way, breakouts flow from lower to higher TFs; whereas, investor sentiment flows from higher to lower TFs. That means traders can place entries with more refinement off H1 meaning sooner entries with smaller SLs than ones off D1; yet, trades setups based off D1 tend to have more endurance or follow-through meaning those trades tend to run further than ones off H1. Using alignment, I can get the best of both worlds. Yet, before I continue that thought, I'd like to point out something unique about H4.
One of the things that I like about H4 charts is that they give us a hybrid view: They give us a daily view in 6 candles: H4 also provides a summary of what's going on with H1: In other words, I can monitor what's going on off H1 and D1 from H4. Combining all of that with alignment gives me the best of both worlds, because I can structure my trades to exploit the moves with larger momentum AND get in sooner with smaller SLs.
It's a very effective combination by itself. Adding further refinement via alignment and entries off H1 or H4 potentially provides a further boost. Yet, we periodically can do better: That's what I like to do, because the higher TF setups frequently spawn multiple smaller patterns off lower TFs. That gives me the opportunity to scalp and swing concurrently while building and holding position trades hoping to capture larger moves too.
In other words, I intend to milk the stuffing out of every good setup that I can, for as long as I can. Scalping--especially off lower TFs--trains a trader to strike decisively with surgical precision: Position trading--especially off higher TFs--trains a trader on how to exploit long-term trends by managing the volatility, time, and path of price.
Swing trading trains a trader on how to exploit intermediate-term trends or anything in between the other 2 also by managing the volatility, time, and path of price. NY session scalpers work with a blend of the other 2.
Doing so gets the horses out of the gate quickly, puts some distance between their current position and the staring line, and gives the long-term momentum enough time to build like a beautiful wave to surf those horses to the finish line. I'm trying to get better at long term trading, so I appreciate this post, the chart examples and the last few responses above! I have to be away from my computer often so a longer trading strategy is good for me. It is always good to have 1 long-term trade working in the background even if you trade smaller timeframes and shorter swings.
I like this and will try it - I am especially looking for something as an overnight trade. I like making my money work while I am sleeping ;-. I tried it on two different pairs and made the goal plus some on both. Just need to do it three more times now. I am right there too ahouck. I need the 25,5,24 to finish Silver 1. I have never had good luck with long term; Well except for when it was good luck.
That trade was not on Alveo. I have been back testing this and it looks like it should work pretty good. I put an SMA 5 on also and it seems to be giving me a pretty good entry when it crosses the 8 instead of waiting for the candle close.
Because I'm not sure how that will play live; backtesting I can't really tell for sure; especially when its a larger candle. I can see this leaves a lot on the table between the actual pivots, often about half of the movement on a turnaround signal, but on the other hand it's relatively safer more safe? I think that paint is dry. I think more like Hak said, the beginning of a good scalp. Honestly, I always used back testing only to get into the mojo of the subject strategy.
All my previous attempts to replicate scores from the back test were an epic disaster Just keeping my spirits high: At the end of the day, you need to make a strategy your own and that's a process, with no guaranties of duration nor success, making it one of many paradoxes of trading.
Anyway, what helped me was looking into the No Name strategy as explained here https: The "secondary entry" from above PDF looks very much like the entry from this thread. I am using No Name on H1 now on my way to the funded account. No person, institution, or entity, including the Apiary Investment Fund, can guarantee a return on investment for such transactions. Neither the Apiary Investment Fund nor its representatives will recommend the purchase, sale, or transaction advice for a specific security.
To learn more about how to get involved, sign up now for a 14 day free trial or fill out the form below and preview the training right now! Skip to main content. A simple D1 trading stradegy. A simple D1 trading stradegy 1. This is what I had in mind. Trade prospects are marked. You are not used all Sell possibilities. I'll give it a try. Looks like a proper strategy to me. What would be the ideal take profit trigger? I will take a look at this strategy.More...