DISCLAIMER: This is an idea to be developed upon. I am currently forward testing this live.
Hi everyone,
I have been thinking of a way to get in and out of the market in 15 minutes or less. Alas, I settled for 15 minutes because price can move decently in that time, but usually I'll be ok with a 10 pip stop. The nice thing about this strategy is that it is timebased, so every 15-minutes you can exit a trade, or enter, or both. 15-minutes a trade... sounds nice. Again, this is all more theory that I am testing. It is by no means tried and true, just thought it up a couple days ago. Naturally, this will work better during trending periods, but that's the only qualification for entry is that there is a trend, so I consider entries high probability.
What you need
1-Minute Chart
Simple Moving Averages(15,30,45,60,120,240,480)
I recommend EUR/JPY
S/L = 10 pips
T/P = 20 pips
ENTRY
At each 15 minute mark. Scale your chart so it shows 15-minute intervals. Enter on 8:15, 8:30, 8:45, 9:00, etc.... If you don't get this, I'm sorry
All SMA's MUST be sloping up for LONG
All SMA's MUST be sloping down for SHORT
EXIT
When your T/P is hit, or at the end of each 15 minutes.
Also, if you get another signal the next 15-minutes, and you want to stick around for that, I would hold onto the current position, move your S/L to 10 pips from the next 15-minute entry, and move your T/P to the 20 pips from the new entry(TECHNICALLY, it's a new trade).
Some times, I will fibonacci increase my position after losses. So, for instance, if I were to put in 1000 units the 1st time, and lose, I would do 1000, then if I lost again it would be 2000, then 3000, 5000, 8000, 13000, etc. I haven't lost more than once in a row yet though.
Criticism, ideas, comments, all accepted.
Hi everyone,
I have been thinking of a way to get in and out of the market in 15 minutes or less. Alas, I settled for 15 minutes because price can move decently in that time, but usually I'll be ok with a 10 pip stop. The nice thing about this strategy is that it is timebased, so every 15-minutes you can exit a trade, or enter, or both. 15-minutes a trade... sounds nice. Again, this is all more theory that I am testing. It is by no means tried and true, just thought it up a couple days ago. Naturally, this will work better during trending periods, but that's the only qualification for entry is that there is a trend, so I consider entries high probability.
What you need
1-Minute Chart
Simple Moving Averages(15,30,45,60,120,240,480)
I recommend EUR/JPY
S/L = 10 pips
T/P = 20 pips
ENTRY
At each 15 minute mark. Scale your chart so it shows 15-minute intervals. Enter on 8:15, 8:30, 8:45, 9:00, etc.... If you don't get this, I'm sorry
All SMA's MUST be sloping up for LONG
All SMA's MUST be sloping down for SHORT
EXIT
When your T/P is hit, or at the end of each 15 minutes.
Also, if you get another signal the next 15-minutes, and you want to stick around for that, I would hold onto the current position, move your S/L to 10 pips from the next 15-minute entry, and move your T/P to the 20 pips from the new entry(TECHNICALLY, it's a new trade).
Some times, I will fibonacci increase my position after losses. So, for instance, if I were to put in 1000 units the 1st time, and lose, I would do 1000, then if I lost again it would be 2000, then 3000, 5000, 8000, 13000, etc. I haven't lost more than once in a row yet though.
Criticism, ideas, comments, all accepted.
? If not get real specific with your question.
!!!. thanks for the indicator. i will put it in now, actually i took your advice and was putting in vertical lines MAnually. can do 3 to 4 in advance. not tired of doing it yet. but thanks for the indicator. Good luck, 