Trading EUR/USD Daily Hi & Lo

[cedric]

This is useful. Thanks for taking the time to explain.

I would like to codify this. How are you defining your cycle and accumulation/distribution periods? Is it a simple MACD which you showed earlier in the thread?

Quote from JSSPMK:

I look for times nearing end of a cycle during acc/dis periods. Then I choose a daily bar which is either narrower than average or look for a narrow range hammer, in both cases they have to happen near extreme levels of acc/dis periods. Enter after either Hi or Lo is touched, sell Lo & buy Hi. Targets are at least x2 initial range. Targets is a complex subject as you know & is very difficult to code due to the fact that market behavior is indeed random. We would like to think that it ain't, yet it is. With this strategy I monitor price behavior after a breakout & if not convincing I am looking to get reward x2 risk ie lost £2k get £4k on next breakout or if account in danger of a margin call or a wipeout, then settle for 1:1 to offset loss.

This method is not based on any sort of market wizardry, but on a positive expectation that price behavior is about to take a directional pull away, which way makes no difference. Daily extremes are better "protected" so can be banked on for reversals. The hardest part in trading is knowing when & perhaps not knowing but actually taking the profit, so it covers the losses & increases equity.

Hope this helps.

 

[JSSPMK]

Quote from JSSPMK:

Next ES range is 1,063.25 - 1,075 starting with £15 per point

Long 1,075.5 @ £15 point

Reverse order 1,063.25 @ £30 point

 

[JSSPMK]

Quote from cedric:

This is useful. Thanks for taking the time to explain.

I would like to codify this. How are you defining your cycle and accumulation/distribution periods? Is it a simple MACD which you showed earlier in the thread?

A/D=congestion zones like wedges/pennants/triangles/horizontal channels, flags. Basically narrow range. I also use MACD histogram patterns that gradually decline or rise to the centerline, as they are a good indication of either weakening or strengthening price action. What's more important is that when histogram does that suggests increasing volatility which expands trading range.

 

[JSSPMK]

Quote from JSSPMK:

Short DX September 85.36 £2 per pip

Reverse order 88.8 @ £4 per pip

Covered +219 pips (+£438)

 

[JSSPMK]

Quote from JSSPMK:

Long 1,075.5 @ £15 point

Reverse order 1,063.25 @ £30 point

Closed +18.5 points (+£277)

 

[JSSPMK]

New ES range 1083.5 - 1099 @ £15 point. Range taken from yesterday. We are above 50 MA.

 

[ammo]

nice trade jss, so now you get long or short above or below these levels?

 

[JSSPMK]

Quote from ammo:

nice trade jss, so now you get long or short above or below these levels?

Buy Hi, sell lo, TY!

 

[JSSPMK]

Quote from JSSPMK:

New ES range 1083.5 - 1099 @ £15 point. Range taken from yesterday. We are above 50 MA.

Short 1083 @ £15 point

Reverse order 1099 @ £30 point

 

[JSSPMK]

Current results:

-85 pips/-£127.5 @ £1.50 per pip

+355 pips/+£1,065 @ £3 per pip

-120 pips/-£120 @ £1 per pip

+277 pips/+£554 @ £2 per pip

-165 pips/-£165 @ £1 per pip

-117 pips/-£234 @ £2 per pip

-172 pips/-£688 @£4 per pip

-132 pips/-£1,056 @ £8 per pip

-220 pips/-£3,520 @ £16 per pip

+420 pips/+£13,440 @ £32 per pip

+487 pips/+£974 @ £2 per pip

-116 pips/-£232 @ £2 per pip

+215 pips/+£860 @ £4 per pip

-106 pips/-£212 @ £2 per pip

-128 pips/-£512 @ £4 per pip

+328 pips/+£656 @ £2 per pip

+15 pips/+£30 @ £2 per pip

-25 points/-£375 @ 15 per point (ES)

-28 points/-£840 @ £30 per point (ES)

+39.75/+£2,385 @ £60 per point (ES)

+18.5 points/+£277 @ £15 per point (ES)

+219/+£438 @ £2 per pip


Win/Loss: 46/54

ROI: +63%