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Looking for strategy that goes with the trend

  • #1
  • First Post: Jan 11, 2007 3:15pm Jan 11, 2007 3:15pm
I am a big fan of buy dips/ sell bounces in a trend and was wondering what kind of different ideas (strategies) our members have on here for intraday trading. Please include a link if a strategy is already posted, otherwise I like to hear some ideas!

below is my strategy and I would like to tweak it, tune it to be better, please speak up!

my strategy:

1. a trend has to be in tact
2. sufficient volume to trade (usually after an economic release)
3. look to trade dips/bounces, wait for it to level off
4. stochastics has to be either neutral or do not conflict with the bounce. Don't short lows, buy highs or do anything near close S/R pivot levels.
5. watch for any last information to trigger the trade such as if one is looking at the EUR, you see the GBP spike down, you would get short instantly without hesitation in that micro second window of opportunity.

exit: support/resistance levels or low, high of the day.
  • #2
  • Jan 11, 2007 3:38pm Jan 11, 2007 3:38pm
Check this one out but it takes a lot of work to understand it at first.

Advise: Don't go half the way in this method or you'll loose. Be patient and listen to all the audio files. It takes a couple of days. This method is consistent (Not one loosing week since 7th of september). Read the first posts of the thread and download and listen to the audio files and download the indicators and templates and when you understand the rules and the method, log in to the chatroom during UK and US sessions.
http://www.forexfactory.com/forexfor...ead.php?t=8088
  • #3
  • Jan 11, 2007 3:45pm Jan 11, 2007 3:45pm
Quoting aminhakim
Check this one out but it takes a lot of work to understand it at first.

Advise: Don't go half the way in this method or you'll loose. Be patient and listen to all the audio files. It takes a couple of days. This method is consistent (Not one loosing week since 7th of september). Read the first posts of the thread and download and listen to the audio files and download the indicators and templates and when you understand the rules and the method, log in to the chatroom during UK and US sessions.
http://www.forexfactory.com/forexfor...ead.php?t=8088
appreciate the response, i'll take a look in detail this weekend. Any others? Keep in mind that I would like something intraday, no overnights, holdings, etc..
  • #4
  • Jan 11, 2007 3:53pm Jan 11, 2007 3:53pm
Quoting Trader1580
appreciate the response, i'll take a look in detail this weekend. Any others? Keep in mind that I would like something intraday, no overnights, holdings, etc..
Hidden divergence on a 5 or 15 min chart is one sweet way of getting a great entry into a trend during the day.
  • #5
  • Jan 11, 2007 4:22pm Jan 11, 2007 4:22pm
Quoting Billy73
Hidden divergence on a 5 or 15 min chart is one sweet way of getting a great entry into a trend during the day.
which oscillator are you specifically referring to? What is the final factor that makes you pull the trigger and where would you place your stop? I'm guessing you would pull the trigger after it goes down a little bit and crossed the overbought/oversold line, and have the stop at the top of the bounce/dip...appreciate your response.
  • #6
  • Jan 11, 2007 5:27pm Jan 11, 2007 5:27pm
Quoting Trader1580
which oscillator are you specifically referring to? What is the final factor that makes you pull the trigger and where would you place your stop? I'm guessing you would pull the trigger after it goes down a little bit and crossed the overbought/oversold line, and have the stop at the top of the bounce/dip...appreciate your response.
I've posted a chart where u can see an example of hidden divergence after todays rate hike, the white trend lines show the higher low on the price but a lower high on both Macd and the Osma indicators. As for entry i'd usually wait for one of the bars on the Osma or Macd to close above or below the previous one, like if u look at the indicators u can see where they peaked and then started to move towards the zero line again. Hope this makes sense, not sure if i explained it properly ? As for stops i'd be using one about 30 pips below where the divergence occured because sometimes the price still moves in the wrong direction before correcting and going your way.
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  • #7
  • Jan 11, 2007 8:30pm Jan 11, 2007 8:30pm
Quoting Billy73
I've posted a chart where u can see an example of hidden divergence after todays rate hike, the white trend lines show the higher low on the price but a lower high on both Macd and the Osma indicators. As for entry i'd usually wait for one of the bars on the Osma or Macd to close above or below the previous one, like if u look at the indicators u can see where they peaked and then started to move towards the zero line again. Hope this makes sense, not sure if i explained it properly ? As for stops i'd be using one about 30 pips below where the divergence occured because sometimes the price still moves in the wrong direction before correcting and going your way.
ahh...brings back memories of back in the day when I use to trade MACD histogram divergence. I also tried CCI and stochastic (though I believe not much different as they are both oscillators.) Interesting how you picked a trend indicator to do divergence plays. Though MACD is a strong indicator as not only does it show you divegence but also indicates momentum by its histogram action.


in that particular trade, I would have no taken it personally as it is somewhat fading the trend. I watched the EUR all day and did not make a trade as 1. trichet was speaking (some great bounces but didn't want to expose myself to his arbitrary comments), and 2. if you were to short, you'd have to pay prices very close to the lows as it's been making it down the way.
  • #8
  • Jan 12, 2007 3:49pm Jan 12, 2007 3:49pm
Quoting Trader1580
ahh...brings back memories of back in the day when I use to trade MACD histogram divergence. I also tried CCI and stochastic (though I believe not much different as they are both oscillators.) Interesting how you picked a trend indicator to do divergence plays. Though MACD is a strong indicator as not only does it show you divegence but also indicates momentum by its histogram action.


in that particular trade, I would have no taken it personally as it is somewhat fading the trend. I watched the EUR all day and did not make a trade as 1. trichet was speaking (some great bounces but didn't want to expose myself to his arbitrary comments), and 2. if you were to short, you'd have to pay prices very close to the lows as it's been making it down the way.
Hmmm never really got into CCI meself, it just never done it for me. My way of trading seems to be different from yours, reason i took that trade was cos with every trade i'm looking for 20 pips then i let the rest run for breakeven so i reckoned i'd get 20 pips at least outta that divergence so hence i took the trade.

Anyway hope the post and chart helps with your trading ?
  • #9
  • Jan 12, 2007 3:53pm Jan 12, 2007 3:53pm
Quoting Billy73
Hmmm never really got into CCI meself, it just never done it for me. My way of trading seems to be different from yours, reason i took that trade was cos with every trade i'm looking for 20 pips then i let the rest run for breakeven so i reckoned i'd get 20 pips at least outta that divergence so hence i took the trade.

Anyway hope the post and chart helps with your trading ?
i'm more conservative. I go with the trend, and if there's no trend, I usually stay out. It is very important for me to clearly see the presence of buyers or sellers.

thanks for the response.




** by the way, I see that you have the previous day's range, high/low on your chart on the top left, what indicators are those and how do you integrate them into your trading?
  • #10
  • Jan 12, 2007 3:58pm Jan 12, 2007 3:58pm
Quoting Trader1580
i'm more conservative. I go with the trend, and if there's no trend, I usually stay out. It is very important for me to clearly see the presence of buyers or sellers.

thanks for the response.




** by the way, I see that you have the previous day's range, high/low on your chart on the top left, what indicators are those and how do you integrate them into your trading?
Trader,

Look at my method. There is a link below. Sometimes I hold positions for 3+ weeks. I believe this qualifies as "intraday"

Kevin
  • #11
  • Jan 12, 2007 4:01pm Jan 12, 2007 4:01pm
Quoting kharvell
Trader,

Look at my method. There is a link below. Sometimes I hold positions for 3+ weeks. I believe this qualifies as "intraday"

Kevin
lol, i'll take a look this weekend, but I'll tell you upfront that if your system is grounded on position/swing trading, I'm exclusively looking to close out my positions by the end of the day. I have no problem holding for a couple of hours if the trade merits so, but I am flat at the end of the day, everyday.
  • #12
  • Jan 12, 2007 4:03pm Jan 12, 2007 4:03pm
Quoting Trader1580
lol, i'll take a look this weekend, but I'll tell you upfront that if your system is grounded on position/swing trading, I'm exclusively looking to close out my positions by the end of the day. I have no problem holding for a couple of hours if the trade merits so, but I am flat at the end of the day, everyday.
: I feel dumb! Just woke up from a nap, and could've sworn INTRAday meant INTERday! My apologies, forget about my system then
  • #13
  • Jan 12, 2007 4:04pm Jan 12, 2007 4:04pm
Quoting kharvell
: I feel dumb! Just woke up from a nap, and could've sworn INTRAday meant INTERday! My apologies, forget about my system then
no problem, thanks for the response!
  • #14
  • Last Post: Jan 15, 2007 4:13am Jan 15, 2007 4:13am
Quoting Trader1580
i'm more conservative. I go with the trend, and if there's no trend, I usually stay out. It is very important for me to clearly see the presence of buyers or sellers.

thanks for the response.




** by the way, I see that you have the previous day's range, high/low on your chart on the top left, what indicators are those and how do you integrate them into your trading?
Well i also trade with the trend and the example in that chart was with the overall trend.

As for the previous day's ranges i just like to know what they are along with the current days range, don't really base any trading decisions on them as such just like to know where things are in relation to the previous days.
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