- ASimple Yet Profitable Strategy | Trading Strategy Guides
- The Truth About Trading Daily Timeframe Nobody Tells You
one can calculate standard deviation by taking all those 85 days daily move, if the standard dev. is near then thats a good candidate for this strategy and average range can be trusted, SD greater than 6 is risky, using this filter one can scan the stocks
ASimple Yet Profitable Strategy | Trading Strategy Guides
As a roadmap and building block for constructing any strategy, we highly recommend reading Forex Chart Patterns and How to Find Opportunity in Forex.
The Truth About Trading Daily Timeframe Nobody Tells You
If you are going long in a trade on a break of one of the resistance levels and the stock rolls over and retreats below this level you are likely in a spot.
This strategy is simple and effective if used correctly. However, you must ensure you’re aware of upcoming news and earnings announcements. Just a few seconds on each trade will make all the difference to your end of day profits.
Thank you so much for sharing your knowledge through this site. Prior to finding this, I 8767 ve been struggling trying to establish patterns on smaller time frames.
This was very insightful and truly appreciate your efforts in educating retail traders. However, in position/swing trading, I 8767 m quite skeptical about morning gaps which could ultimately drive the price beyond my intended stop loss. Would be grateful if you could help me in fixing this issue (at least to some extent if not fully).
All of these steps will be reviewed here one by one for this swing strategy. The 9-hour chart is used for all of the 5 steps, besides the filter chart which uses the daily time frame.
The filter uses the daily chart to check if any trend and momentum face major obstacles such as daily tops and bottoms. If yes, and the price is too close (sufficient space towards S& R ) then that pair and potential trade setup would be filtered out and ignored. When testing the strategy, no filters were used, which means that the statistics are showing the “gross” performance. The results can potentially be improved with filters.
Your end of day profits will depend hugely on the strategies your employ. So, it’s worth keeping in mind that it’s often the straightforward strategy that proves successful, regardless of whether you 8767 re interested in gold or the NSE.
This is another pivot point trading approach. However, this time we will stress the cases when the price action bounces from the pivot levels.