Simple Intraday Trading System

Will this system work?

  • Yes

    Votes: 14 34.1%

  • No

    Votes: 27 65.9%
  • Total voters
    41
Quote from steve46:
I leave these minor details to the individual
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Good approach you have there, until 1 A.M Est. However, European market is usually the turning point...not sure if 2 pts stop is enough. Do you look at overnight carry trades and other factors as well?

What about indices such as SPI and nikkei that runs overnight?
Do you trade or watch for their closing price and price during re-open and capitalise on the differences?

Besides Indices, are there European or Chinese stocks listed in U.S that exhibits such minor 'arbitrage/spread' opportunities?
 
backtesting - i used ts to do a big backtest and a forward walk on it with unsampled data. i guess i should have mentioned this prior but thought it was a given since i gave an opinion on it. but to clarify for some - the system has a good profit factor but not winning percentage. the pf was well over 2 "wow" but the downside was the % profitability was around 40. so there is the trade off. still i would trade it with some position sizing techniques. one of the better simpler systems i have seen on the net in a while and refreshing.

mb

also note i use really big stops like 450 bucks on one emini. nothing ventured nothing gained.
 
Quote from steve46:

Watch the overnight market, Asia then Europe. You want to see both markets open and trend up strongly, closing on the highs.

Then simply watch the ES market open. if it opens and moves down, wait and watch the first half hour. Then simply enter long or short with a five point stop and hold on to the end of session
If the market closes on its highs, hold overnight as well. Take profits the next session on the open.

Hi
This is my first post so excuse any inappopriateness.

You say enter long or short. which is it? Is the first half hour range relevant? what if it gaps lower?

Thanks
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Quote from StillStanding:

This is my first post so excuse any inappopriateness.

You say enter long or short. which is it? Is the first half hour range relevant? what if it gaps lower?

Thanks
More...

i'm with you what is it long or short cant be both doesn't seem like a well detailed trading plan. i guess you could test every which way and figure it out. mb
 
Quote from steve.k.tang:

Hi,

I've been reading posts for a long time but never contributed. Here's my futures trading system. Hope it helps - Feedback welcome :)

A Trigger level is defined as a new intraday high/low. As long as prices trade through or reverse from the trigger, the trade should be profitable. The system would be unprofitable whenever prices trade to the intraday high/low and stick there for a long time.
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How long into the session would you wait till you get your interday highs/lows?
 
Quote from MarkBrown:

... one of the better simpler systems i have seen on the net in a while and refreshing.
mb
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Can you please point us to some other simpler systems you have seen?

Thanks
 
Quote from StillStanding:

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

Thanks
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sure an old man who i respect alot told me about a system he used - but he was never able to test the crap out of it because of a lack of resources like data, computing power, software etc.. he just knew he had observed something and he made money with it.

it is a simple little system and i have always admired both the man and the system. by R.L. Mc Alister i hope he is still around!

take the pivot and a simple moving average and on a five minute chart buy or sell when the current bar closes and it's average length of 10 based on the close is above for a buy the stop becomes the pivot or slightly less optimize this. the sells are just the opposite. do not trade for the first optimize this minutes of the trading session.

i will dig out the code, mb
 
Quote from MarkBrown:

[
take the pivot and a simple moving average and on a five minute chart buy or sell when the current bar closes and it's average length of 10 based on the close is above for a buy the stop becomes the pivot or slightly less optimize this. the sells are just the opposite. do not trade for the first optimize this minutes of the trading session.

i will dig out the code, mb [/B]
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Thanks

sorry-this is unclear

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