70% success rate Crude Oil intraday strategy

[rajesheck]

Entry Rules

1# A RALLY of 0.5% or more within 20 minutes.

For example if the script is trading at 2000 (INR) then a rally of 0.5% means rally from 2000 to 2010 or more.



2# WAIT for 10 minutes



3# ENTER when there is a crossover of the rally before 60 minutes.

For example if the rally touches 2010 by 10:10 am and crossover the same before 11:10 am.



Note : The rally need not be a high/low breakout. The rally can be either with the trend or against the trend.

 

[Overnight]

Your technical analysis is trumped by all the OPEC shenanigans. I'd reckon' this method should be put aside until the official OPEC meeting in November.

 

[rajesheck]

Your technical analysis is trumped by all the OPEC shenanigans. I'd reckon' this method should be put aside until the official OPEC meeting in November.

You can use, play, tweek, experiment, adopt and improvise with this strategy as you wish. Except under extreme market conditions like very high volatility, I would suggest to use this strategy ANYTIME with confidence and without fear. Because there is In-Built safety measures in this strategy.

 

[rajesheck]

Broadly speaking there are two approaches to trading.
1. Prediction based
2. Momentum based

I strongly believe prediction based trading is gambling. Momentum based trading is controllable and profitable.

This strategy is momentum (velocity) based....distance (0.18% or more) and time (within 20 minutes).

Intraday trading gives me more control than positional.

The exit strategy can be anything of your own style and preference. It can be either scalping or trend trading or range bound or a hybrid version.

This strategy can also be used for positional trading as an entry strategy.

 

[rajesheck]

Algo-Trading VS Momentum Trading

The advantage of Algo-Trading is that it purely depends on the chart pattern and nothing else.

Disadvantage is that Algo scripts cannot be configured to minimise the hit rate of stop loss just before it hits the target. In effect the success rate dips.

On the other hand momentum trading is purely based on chart pattern (like Algos) and at the same time the Rally>>Wait>>Enter approach controls the hit rate of stop loss. Eventually the success rate is maintained at optimal level.

 

[rajesheck]

As said above this strategy 100% depends on the chart pattern and nothing outside. But the problem is it has three subsequent events:

1. A rally with a
a. specific price action and
b. within a specified timeframe

2. Wait for a specific period.

3. Entry based on first event's price action.

I am not sure if there is any Algo platform out there that allows us to write script on inter dependent events like this strategy.

 

[Trading Education Buyer]

 

[murray t turtle]

Broadly speaking there are two approaches to trading.
1. Prediction based
2. Momentum based

I strongly believe prediction based trading is gambling. Momentum based trading is controllable and profitable.

This strategy is momentum (velocity) based....distance (0.18% or more) and time (within 20 minutes).

Intraday trading gives me more control than positional.

The exit strategy can be anything of your own style and preference. It can be either scalping or trend trading or range bound or a hybrid version.

This strategy can also be used for positional trading as an entry strategy.

%%
Congrats ; it takes all kinds to make a market.
There is an insurance premium for overnight holds. Not saying any should , or should not do that. Derivatives are not suitable for all investors.

 

[rajesheck]

%%
Congrats ; it takes all kinds to make a market.
There is an insurance premium for overnight holds. Not saying any should , or should not do that. Derivatives are not suitable for all investors.

Very true !

Intraday chart analysis is sufficient for a successful intraday trading.

But just EOD chart analysis is never enough for positional trading.

Positional trading needs different skills more than just chart analysis.

I am good in intraday chart analysis and settled happily in what is best for me, Intraday !

Having said that, the underlying philosophy of both intraday and positional trading remains the same, "Never lose your money".

Whatever may be the trading style, the trader need to focus all his skills and creativity towards protecting his money.

The success does not lie in the broader knowledge that internet, forums and books provide. Success lies in the fine details of our job.

 

[Overnight]

%%
Congrats ; it takes all kinds to make a market.
There is an insurance premium for overnight holds. Not saying any should , or should not do that. Derivatives are not suitable for all investors.

What is "an insurance premium for overnight holds"? This is a futures forum, not an options forum.