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-   -   Intra day Trading Sys (https://www.forexfactory.com/showthread.php?t=10984)

hakeem Dec 6, 2006 3:31am | Post# 1

Intra day Trading Sys
 
Hi gents,
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

My first post in FF,
<o></o>

I'm 4 years old in FX world, specialized in GBP.
<o></o>
I have this Intra day sys to use and want to share it with u, it's simple and 90% proof.
<o></o>
First, u have to know the trend direction for the day and MACD will do that, if the slow line below zero then the trend is down, above zero then the trend is up (I'm talking about the first wave of the day if there are more than one) MACD should be set 8,18,9.
<o></o>
This is confirmed by the RSI if above 50 will be up or below 50 then down, and should be set to 21.
<o></o>

Now, the entry, SL and exit points,
<o></o>
Entry point should be made by a blue 5 closed EMA with a red 6 opened EMA.
SL should be 5 pips above or below recent hi or low, not more than 30 pips. Exit, if u r good with fibo then u should exit on 161.8% or tops and bottoms, R or S but no less than 30 pips in hand.

Forgot to mention the time frame should be 30m and apply after 2300 Eastern Time.

If the above arenít met, donít enter the market.

This sys is useless when it comes to the news.

BANDA Dec 6, 2006 3:42am | Post# 2

Hi Hakeem,
Do you have charts for your set up ? If couls you please let us have a look?
Thankx in advance
Banda


Hi gents,<o></o>

<o></o>

My first post in FF,<o></o>

<o></o>

I'm 4 years old in FX world, specialized in GBP.<o></o>

<o></o>

I have this Intra day sys to use and want to share it with u, it's simple and 90% proof.<o></o>

<o></o>

First, u have to know the trend direction for the day and MACD will do that,<o></o>

if the slow line below zero then the trend is down, above zero then the trend is up (I'm talking about the first wave of the day if there are more than one)<o></o>

MACD should be set 8,18,9.<o></o>

<o></o>

This is confirmed by the RSI if above 50 will be up or below 50 then down, and should be set to 21.<o></o>

<o></o>

Now, the entry, SL and exit points,<o></o>

<o></o>

Entry point should be made by a blue 5 closed EMA with a red 6 opened EMA.<o></o>

<o></o>

SL should be 5 pips above or below recent hi or low, not more than 30 pips.<o></o>

<o></o>

Exit, if u r good with fibo then u should exit on 161.8% or tops and bottoms, R or S but no less than 30 pips in hand.

<o></o>

Forgot to mention the time frame should be 30m and apply after 2300 Eastern Time.

<o></o>

If the above arenít met, donít enter the market.

<o></o>

This sys is useless when it comes to the news.

BANDA Dec 6, 2006 3:44am | Post# 3

Hi Hakeem,
Do you have charts for your set up ? If could you please let us have a look?
Thankx in advance
Banda


Hi gents,<o></o>

<o></o>

My first post in FF,<o></o>

<o></o>

I'm 4 years old in FX world, specialized in GBP.<o></o>

<o></o>

I have this Intra day sys to use and want to share it with u, it's simple and 90% proof.<o></o>

<o></o>

First, u have to know the trend direction for the day and MACD will do that,<o></o>

if the slow line below zero then the trend is down, above zero then the trend is up (I'm talking about the first wave of the day if there are more than one)<o></o>

MACD should be set 8,18,9.<o></o>

<o></o>

This is confirmed by the RSI if above 50 will be up or below 50 then down, and should be set to 21.<o></o>

<o></o>

Now, the entry, SL and exit points,<o></o>

<o></o>

Entry point should be made by a blue 5 closed EMA with a red 6 opened EMA.<o></o>

<o></o>

SL should be 5 pips above or below recent hi or low, not more than 30 pips.<o></o>

<o></o>

Exit, if u r good with fibo then u should exit on 161.8% or tops and bottoms, R or S but no less than 30 pips in hand.

<o></o>

Forgot to mention the time frame should be 30m and apply after 2300 Eastern Time.

<o></o>

If the above arenít met, donít enter the market.

<o></o>

This sys is useless when it comes to the news.

hakeem Dec 6, 2006 4:50am | Post# 4

Today's chart for the GBP.

hakeem Dec 6, 2006 4:58am | Post# 5

It seems that I couldn't upload the chart, however check the GBP today's chart and apply what had been said above.
Cheers

dave1964 Dec 6, 2006 5:07am | Post# 6

do you go short when red passes above blue and rsi >50?

hakeem Dec 6, 2006 5:22am | Post# 7

Dave,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

You don't go short if RSI >50,<o></o>

You go short if RSI<50 and slow MACD<0, if this is true then you will find the red passing the blue, that where you enter the market.<o></o>

<o></o>

Check out today's GBP chart and its historical data for the past decays (kidding)<o></o>

<o></o>

It's not hard, ha.<o></o>

<o></o>

Let me read your findings shortly!<o></o>

<o></o>

Stay smart

kavsp Dec 6, 2006 6:09am | Post# 8

A question... for clarification/understanding purposes...

MACD below 0
RSI below 50

Entry when red comes from below to above the blue line and entry - is that made on close of bar or in real time?

EG
GBPUSD - today 6:30am GMT bar closed @ 1.9719 and during that bar the red EMA moved from above (previous bar) to below - what would your entry be? SL be? TP be?
Or Would you enter real time as it was happening?
Another example occured in the 9am GMT bar - explain for that too if possible.

Kavs

hakeem Dec 6, 2006 7:05am | Post# 9

Kavsp,

Today after 2300 ET, the GBP/USD chart showed RSI<50 and MACD<0.
The red crossed the blue on 1.9729/33 then retraced to 1.9736/40, now you could enter short between those figures, (you had few chances) let's say the price went diving and didn't give u the chance, that case youe should wait for the price to retrace back to the crossing point, and place your SL 5 pips above the hi which was 38/42, your exit strategy could be more than one, for instance, you could exit near yestetday's bottom which was 1.9676 and get 40-50 pips.

Capeesh

Wont go simpler than this.

kavsp Dec 6, 2006 7:45am | Post# 10

So whatever it shows after 23:00 ET (4AM GMT) you go with that view for the whole day? ie short in today's case.

You can in theory get back on the "short train" every time the red EMA goes below the blue EMA and then crosses back under it...

So the first train left at between 1.9729-36 as you said (4am GMT / 11pm ET)
The second train left at between 1.9717-33 (6:30am GMT / 1:30am ET)
The third train left at between 1.9676-1.9724 (9am GMT / 4am ET)
(Its price based rather than time based in a way)

So if you jumped out at any point or TP target - you could've jumped back on the short train again... now if the first line is true (short direction all day) you would now wait for the cross over then back under (blue/red EMA) on a closing basis to give you the next short train departure...

Sorry about the train thing... I started with that analogy so I went full steam ahead (ran) with it!! http://www.forexfactory.com/forexfor...ons/icon10.gif

Kavs

hakeem Dec 6, 2006 8:19am | Post# 11

Kavs,


This is not every day, I got lucky when the price retraced back and took it again on 24/28, the first (train) I took was on 32/36 and set my target 30 pips and my SL 15 pips 1:2 Risk Reward Ratio, it went to 690/694 but I got out before that, then it retraced back to 24/28 then I had the chance again however, I didn't plan it but the most important that it retraced before the news came out,
I only plan for one train trip and go enjoy my life, I wont stick to the screen all the time to wach for retraced price.

Enjoy it

c1ro Dec 6, 2006 9:06am | Post# 12

Hi gents,
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

My first post in FF,
<o></o>

I'm 4 years old in FX world, specialized in GBP.
<o></o>
I have this Intra day sys to use and want to share it with u, it's simple and 90% proof.
<o></o>
First, u have to know the trend direction for the day and MACD will do that, if the slow line below zero then the trend is down, above zero then the trend is up (I'm talking about the first wave of the day if there are more than one) MACD should be set 8,18,9.
<o></o>
This is confirmed by the RSI if above 50 will be up or below 50 then down, and should be set to 21.
<o></o>

Now, the entry, SL and exit points,
<o></o>
Entry point should be made by a blue 5 closed EMA with a red 6 opened EMA.
SL should be 5 pips above or below recent hi or low, not more than 30 pips. Exit, if u r good with fibo then u should exit on 161.8% or tops and bottoms, R or S but no less than 30 pips in hand.

Forgot to mention the time frame should be 30m and apply after 2300 Eastern Time.

If the above arenít met, donít enter the market.

This sys is useless when it comes to the news.
Do u mean 5 EMA (close) and 6 EMA (open)??

kavsp Dec 6, 2006 9:22am | Post# 13

One trade a day - now it makes sense what you said before, if you only trade the once and its a reliable trade then yea... I thought you were in the market multiple times... maybe like i said depending on those crosses...

Having over-read what you do with your method - it may be worth investigating as it could form the basis for a trading method doing multiple trades... just a thought!

Kavs

hakeem Dec 6, 2006 9:33am | Post# 14

Thanx Kavsp, I give it a thought,

C1ro, exactly

c1ro Dec 6, 2006 10:00am | Post# 15

One trade a day - now it makes sense what you said before, if you only trade the once and its a reliable trade then yea... I thought you were in the market multiple times... maybe like i said depending on those crosses...

Having over-read what you do with your method - it may be worth investigating as it could form the basis for a trading method doing multiple trades... just a thought!

Kavs
So, whats ur method for multiple trades?

hakeem Dec 6, 2006 10:21am | Post# 16

C1ro,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

I really don't do multiple trades unless I hit my target first, then if it comes around my starting point (no fundamental cause, pure technical) I then try one more time and exit before the first target and so on.<o></o>

This is my full time job, and I have rules to follow, most important discipline & patience, one trade per day if my parameters were met to get 30-40 pips and Iím happy.<o></o>

Stay happy

pachinko Dec 6, 2006 10:41am | Post# 17

I like this trading system ... maybe useful for scalpers if use in lower timeframe..

dave1964 Dec 6, 2006 10:51am | Post# 18

Thanks for the clarification, I see now what you are saying, looks like a great system, really appreciate you posting it here. Does this work with any currency?

katzenhai2 Dec 6, 2006 11:02am | Post# 19

@hakeem:
For how long do you trade this system? Since 4 full years?

hakeem Dec 6, 2006 11:17am | Post# 20

Dave,

It can be used with any currency however, it goes best with the GBP.


katz,

I started playing with FOREX 4 years ago, when the GBP was 1.4xx,

I developed many systems simple and complicated,

this one, I've been useing it since FEB 06.

Stay educated


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