Day Trading system - Simple system to make money

Hi to all,

I am testing this system. i had attached the beta version of two indicators.Both are simple indicators. one indicator used to detect whether market condition is good to trade or not and another one indicator will give and sell signals.

Dont forget to post your feedbacks about the system

Timeframe: m5

****[[Simplified rules can be found here with example:]] https://www.forexfactory.com/showthr...3#post12972683

if you try to use it on different timeframe then you have to follow different rules.

Vola Detector indicator:

This indicator advises you whether you can take trade or not. It wont give trade signals. This indicator is support system.
when market becomes inactive then colour is yellow which means trend becomes flat
when market ready to move then colour is green which means its starts move
when market starts to moves then colour is red which means its moves strongly
how to trade using this---->
red means strong move. volatile market, so no trades.[there is exception]
yellow and green means market moving flat or starting to break out of range.so when these colour occurs then we can take trades.
before taking trades, we have to check previously what colour had appeared
rules:
1.green colour will appear after red colour.
2.yellow colour will appear after green colour.
3.green colour will appear after yellow colour
4.red colour will appear after green colour
trades on yellow or green.
trade can be taken when yellow colour appears. [rule 2]
trade can be taken when green colour appears only if it appears after yellow colour. [rule 3]
no trades can be taken when red colour appears.there is some exception -->>when market starts to trend then red colour might be formed.so this can be consider as green colour]<<-- [rule 4]
no trades can be taken when green colour appears after red colour. [rule 1]


FxAdder indicator:
This indicator will give buy and sell signals.
when blue candle appears then its buy signals
when red candle appears then its sell signals


Blue candle - Place buy stop order above high of the blue candle. If blue candle high is lower than its previous candle then place buy stop order
above the previous candle high.
Red candle - Place sell stop order below low of the red candle. If red candle low is higher than its previous candle then place sell stop order
below the previous candle low.
Place those pending order 1pip above or below those signal candles.

These pending orders have to be triggered by next 5 candles else cancel the pending order and wait for another signal/// or wait for a candle to close above/below
the high/low of the blue/red candle or previous candle. then place those pending orders.
what are all the ways to trade those signals given by FxAdder indicator
1. instant trigger by next candle
2. waiting for next 5 candle to trigger the order
3. waiting for candle to close above/below the high/low of blue/red candle or previous candle respectively

if blue or red candle appears inside 1st hour candle bar of trading session then wait for 5m candle to close above/below first hour candle bar high/low. then place
pending order above or below those candles.

Will attach some screenshot for your reference


Money Management:
When sell signal appear below first hour low then consider that sell signal as trend following signal
When buy signal appear above first hour high then consider that buy signal as trend following signal
When sell signal appear above first hour high then consider that sell signal as trend against signal[decrease the risk per trade compared to trend follow signal]
When buy signal appear below first hour low then consider that buy signal as trend against signal [decrease the risk per trade compared to trend follow signal]

********* Dont trade if price didnt closed above or below first hour candle
********* Trades must be taken only after 5m candle closes above or below first hour candle of the day. After that trades can be taken anywhere
********* Dont take trades if trade setup appears after closing london session. Thats no trade 4 hour before market closing



sorry for my poor english.

Any doubts or feedbacks post it here.. will try to answer

confused by so many rule.

5% per day? Are you related to George Soros?

Rule 1: wait for 5m candle to close above those green rectangles. Dont take trade until this happens
Rule 2: FxAdder indicator will give buy[blue candle] and sell[red canle] signals
Rule 3: Vola detector indicator which uses histogram tells us whether a trade can be taken or not. If red or blue candle appeared then check vola detector indicator.
If yellow or green[green colour should appear after yellow colour] histogram then trade can be taken . If red colour or green colour which appear after red colour then dont take trades

whatever amount. its day trading system. even if we take 10 trades per day by risking 1% per trade then its possible. but yeah i know many ppl tend to make 10-20% per month and big firms make 10-20% per year. as a retailer we could try whatever we wish. may be its dumb but worth a try

Totally agreed. You're right.

5% a day is nuts.. Margin call comming!

1% -2% per trade not going to be worst case scenario bro. i just typed 5% because thats what i intend to go for but traders can risk whatever the amount they want

Dear, I'm not saying that making 5% is a joke and anybody can do that but, it's certainly possible. For example, I know a couple of traders capable of doing it. The point is, "margin call" don't come if you know what you're doing.

Cheers

greed is a deadly sin for a reason.

anything possible ,, sure you could make 100% in 1 day but its the consistency .... no one can make 1% everyday consistently

What is the moving average setting of the trend Detector indicator

Jeeeez, why didn't I have the idea? With compound interest and 200 trading days a year I will end up with 17292580 $ on a small 1000$ account.
Should be enough to retire in 2021 ;-)
back to serious: there are thousands of math experts out there (especially from Israel, Russia). If things were so easy, don't you think they would do it? And the world would be full of millionaires?
Anyway, good luck!

so what is the reasonable return per day or per week?.. i just used 5% per day for small traders..trades which uses most likely 10pips sl and 10pips tp.. once reached big amount you cant trade like that and there might be liquidity problem to fill our orders... its just for small traders who wish to grow their account for sometime. sorry i am not good at english.so couldnt convey my thoughts clearly

Hi
you have very good thoughts. Keep it up. Slowly understanding the concept. Let me try on live market

Sorry, I did not want to offend you. Do you know the ancient story about the grains of rice and the chessboard? Then you may understand my comment.
From my point of view, if you achieve 0.7% (1% risk with a 70% win rate) daily consistently (!!!), then you are a pro and can live from it. JustMy2Cents.

Back to your system. Does not look bad and has straight rules. Good for making an expert advisor (multipair ;-) ). But I would only put effort in it, if there was a study over a certain time. Strategy tester in slowmo, demo and then small amount on real.

yeah thank you so much. the feedback about the system, thats what i look forward. 5% per day is i just used in title which i planned to do for sometimes.. when i backtested on few pairs using this system solidly gave me 70% win rate. Someone with prior knowledge can make use of this sytem to make some good gains and this thread is not about percentage per day, may be i should change the title.. and once again thanks for looking into my system

Interesting strategy but the goal is impossible to achieve

Based on the images you've posted then this looks to be a variant of an opening range breakout system, perhaps with some other filter based on volatility to determine a specific bar of entry following the breakout?