Simple Trading system for Intraday/short term

Quoting Olaha

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My system is combination from everywhere. So anybody interested to join me to do backtest... are welcome..


Chart Setting;

Time frame: 1 hr and 15/30 minutes (open 2 charts. 1 hr for major trend and 15/30 minutes for define retracement)

1). EMA 5 & 12
2). SMA 70
3). RSI 21
4). STOCHASTIC 15,3,3
5). The Strategy based on Open Price and Static Fib Numbers.


How to use;

1). EMA 5 & 12 for Support and Resistence
2). SMA 70 for define the trend, confirmation with RSI 21. If the price above SMA 70 means up trend, if below SMA 70 means down trend. If the RSI 21 line is above 50 means up market, below 50 means down market. RSI 21 lines above 70 means overbought, below 30 is oversold.
3). Stochastic 15,3,3. Make sure the line must remain above 60 for buy and below 30 for sell.

All those setting above are apply when the order triggered.

The order will be follow as The Strategy based on Open Price and Static Fib Numbers.

GBPUSD example
Today Open : 1.9634

Add Horizontal Line above Today Open :
HL1 = 1.9634 + 34 = 1.9668
HL2 = 1.9634 + 89 = 1.9723
HL3 = 1.9634 + 144 = 1.9778

Add Horizontal Line below Today Open :
HL4 = 1.9634 - 34 = 1.9600
HL5 = 1.9634 - 89 = 1.9545
HL6 = 1.9634 - 144 = 1.9490

Rules :
Place Buy Stop order at HL1, SL = Today Open, TP1= HL2, TP2 = HL3.
Place Sell Stop order at HL4, SL = Today Open, TP1= HL5, TP2 = HL6.

If Buy stop order executed, change Sell Stop order = Today Open, SL = HL1, TP1= HL4, TP2= HL5.

Do the opposite if Sell Stop executed.

Take Target 1 1st. Than, wait for retracement. After the price retrace... place order again at Target 1.. Take profit at Target 2.
If the price already move about 20 pips, place stop loss at +3 from buy or sell price. Even stop loss happen... you will not close for nothing.

Target 1 already 50 pips. From target 1 to 2 is 100.
Sometimes we can earn 50 pips only. If the market strong than 100 pips a day. sometimes.. no trade. Average 1000 pips a month.

Open Price will be on Tokyo open time. I use Tokyo because, Tokyo is the first country start open the market for the day.
I tried London open time but is too late. But can try... is no harm..

Good Luck!

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Quoting Olaha

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Bad day for me... the price touch my SL -20

Never mine....

I will make money again latter.
Today is bad day... I think bcoz US is holiday..
May be tmrw will be good.

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