Simple Intraday Trading System

[MarkBrown]

Quote from StillStanding:

Thanks

sorry-this is unclear

1) what do you mean by pivot?
2) what do you mean average is above? above what?

sorry the floor traders pivot point yesterdays (h+l+c)/3 = todays pivot point.

then apply a 10 period moving average to your chart. when the close of a 5 minute bar and the moving average is above the pivot then buy.

The central pivot point (CPP) is the equilibrium point around which trading is expected to occur. The calculation for tomorrow’s CPP is simply the average of today’s high, low and close. When prices move away from the CPP there are zones of support and resistance that define the expected value area of the market. Because these zones are known, penetration and market moves beyond these support and resistance levels bring new players into the market who give further momentum to the buying or selling pressure.

Where C[1] is yesterday’s closing price, H[1] is yesterday’s high and L[1] is yesterday’s low, the central pivot point for today and its support and resistance levels are defined as:

Central pivot point P = (H[1] + L[1] + C[1]) / 3

 

[StillStanding]

Thanks

Pretty simple entry rule but...

what about initial stop,profit target,trailing stop ad naus...

 

[MarkBrown]

Quote from StillStanding:

Thanks

Pretty simple entry rule but...

what about initial stop,profit target,trailing stop ad naus...

several things can be done pick one.

 

[StillStanding]

Quote from MarkBrown:

several things can be done pick one.

I know that . I am just pointing out that an entry point alone does not a system make.

 

[MarkBrown]

Quote from StillStanding:

I know that . I am just pointing out that an entry point alone does not a system make.

sorry but if you look at the first post i made i gave the stop as

"for a buy the stop becomes the pivot or slightly less optimize this."

so i did include the money management rule. i knew i posted it and it was hard for me to find. i write that way kinda hard to follow. its part of my overall give but not make it too easy approach.

 

[StillStanding]

Quote from MarkBrown:

sorry but if you look at the first post i made i gave the stop as

"for a buy the stop becomes the pivot or slightly less optimize this."

so i did include the money management rule. i knew i posted it and it was hard for me to find. i write that way kinda hard to follow. its part of my overall give but not make it too easy approach.

my bad. you write very efficiently.

but... the pivot could be pretty far from your entry point. I guess that's why optimization is required. e.g. closer of 10 bar MA or pivot.

 

[katesdp]

Quote from StillStanding:

Can you please point us to some other simpler systems you have seen?

Thanks

Buy the Creepers Sell the Leapers

 

[StillStanding]

Quote from katesdp:

Buy the Creepers Sell the Leapers

please be more specific. at least it rhymes

My real smilies don't seem to work. don't know why?

 

[thetrendfollowe]

Interesting thread.
Im discussing a forex system which is very similar to this one in the high frequency scalping thread in the forex trading section.

 

[veggen]

I like this tread as well!! Only thing is that I am from Norway, so do have a little language problems, especially when you write so efficiently!

I am looking for an easy and simple entry system that does not include to many indicators. Something like you discribed earlier!

Could you maby post an example on a chart as well??!

I did not really understand all that you described.

Veggen