70% success rate Forex intraday strategy

[rajesheck]

you've got a point sir, but my understanding is without backtesting you strategy remains unproven sir ...

This strategy has three inter dependent events : Rally, Waiting and Crossover.
Generally Algo platforms wont allow such things to be put in script and back tested.

Yet this strategy can be manually back tested on
1. historical intraday charts
2. Live intraday session

My personal experience is that the success rate of this strategy is very good on Indices than other segments.

In equities if the rally price action is fixed as 2% then the success rate is very high, but only while scalping.

No doubt this strategy is a powerful tool, when applied properly.

 

[Trading Education Buyer]

If you can't get a meal out of it , how can it be any good?

 

[rajesheck]

If you can't get a meal out of it , how can it be any good?

You need to develop an exit strategy. It may be trend, scalping, range bound, etc, which depends on your trading preference.

Trader has to choose :
1. Segment (Index Future, Index Option, Equity, Commodity, Forex)
2. Intraday OR Positional (Yes, this strategy can be applied on EOD chart for positional trading with a suitable rally price action)
3. Trading Style (Trend, Scalping, Range bound, etc,)
4. Risk reward ratio (Eg: 1:1, 1:2, 1:3, etc,.)

Each individual is unique. His trading preferences will also be unique.

 

[Trading Education Buyer]

You need to develop an exit strategy. It may be trend, scalping, range bound, etc, which depends on your trading preference.

Trader has to choose :
1. Segment (Index Future, Index Option, Equity, Commodity, Forex)
2. Intraday OR Positional (Yes, this strategy can be applied on EOD chart for positional trading with a suitable rally price action)
3. Trading Style (Trend, Scalping, Range bound, etc,)
4. Risk reward ratio (Eg: 1:1, 1:2, 1:3, etc,.)

Each individual is unique. His trading preferences will also be unique.

forex trends are choppy

how can you apply same strategy for non trending instruments?

Need to make for this everyday

https://www.google.co.uk/search?q=l...ved=0ahUKEwj5mbLlxrbPAhVMK8AKHUz0CA4Q_AUIBigB

 

[rajesheck]

forex trends are choppy

how can you apply same strategy for non trending instruments?

Need to make for this everyday

https://www.google.co.uk/search?q=l...ved=0ahUKEwj5mbLlxrbPAhVMK8AKHUz0CA4Q_AUIBigB

When choppy adopt range bound strategy. When trending apply momentum strategy.

 

[radex78]

Welcome

Yes, momentum trading is purely based on small yet significant price action. The momentum may either be with the trend or against the trend. A momentum against the trend may lead to trend reversal. Trend traders can use momentum trading strategy as their entry strategy.

On the other hand classical trend trading is based on support & resistance levels, where the focus is on the direction of the price action and not the momentum.

Momentum strategy is multi purpose in nature and can be used as...
1. Entry strategy for an existing trend strategy.
2. Entry strategy for an existing reverse trend strategy.
3. Signal for existing trend or reverse trend if price wont crossover within 60 minutes.
4. Scalping point.
5. Stay away zone for range bound trading.

Once again so good view about trend market, actually I like with price action and to looking support resistance area also only look on pattern candlestick that occur on past time, if scalping trade only few hour open and closed order whether also we need stop loss or will cut loss if already past sixty minute but still on floating

 

[victorycountry]

Entry Rules

1# A RALLY of 0.12% or more within 20 minutes.

For example if the script is trading at 1 then a rally of 0.12% means rally from 1 to 1.12 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 1.12 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.

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.

can you please show how you do this with a chart?

I can find out whether there is a rally or trend by observing its volatility pattern.
Rally has mantis shape whereas trend has queen ant shape.

Rally -

Trend

 

[Trading Education Buyer]

When choppy adopt range bound strategy. When trending apply momentum strategy.

thank u

.

 

[rajesheck]

Once again so good view about trend market, actually I like with price action and to looking support resistance area also only look on pattern candlestick that occur on past time, if scalping trade only few hour open and closed order whether also we need stop loss or will cut loss if already past sixty minute but still on floating

The strategy works best within 60 minutes from the rally.

I leave the exit strategy to traders, which includes choosing your trading style (trend, scalping, range bound) and risk (stop loss) reward (target) ratio.

 

[rajesheck]

can you please show how you do this with a chart?

I can find out whether there is a rally or trend by observing its volatility pattern.
Rally has mantis shape whereas trend has queen ant shape.

Rally -
View attachment 166927


Trend

View attachment 166928

I purposefully did not included a chart in thread, because the chart pattern can be anything.

As far as the entry rules are concerned, do not assume anything other than what is mentioned in the strategy. Just look for the Rally->Wait->Crossover sequence.