He is waiting for pull back after breakout, something like 123 trading, but he will trade on 2.
Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 replies
Day Trading system - Simple system to make money 51 replies
Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies
My Simple System (Can we automate this system?) 96 replies
An Easy System (With the help of ES Trader - Another Simple System) 13 replies
DislikedWith all due respect, do you really believe in this? How would you deal with a ranging situation ? I have seen hundreds of these or similar strategies as well as yours. I can tell you that no one does not work.
Please do not put real money on this, only my advice.Ignored
Dislikedwhen you have a ranging situation, it does not move above the earlier hourly bar and the MA do not trend. ie 5>9>20 and vice versa for shorts.
the proof of the pudding is in the eatingIgnored
Dislikedthe market was moving sideways. CCI is not a great indicator when the market moves sideways. if you look at the market, it did bounce after i closed. i was not patient with the trade due to exhausion.Ignored
Dislikedi will start posting my trading system and its results from tomorrow. the rules are simple. 1. Watch for the hourly bar to go higher than the previous bar. 2. Now look for 5 minute bar to pullback. 3. enter the pullback of the 5 minute bar. 4. the intend is that it will attempt another breakout. 5. if breakout succeeds, then start trail stopping the trade. 6. if the breakout attempt fails to make new high. its over. 7. if the 5 x 9 ema crosses again after trade entry and i am in profitable position, keep stop above breakeven. Trend detection: 5...Ignored