Hi,
I have recently started doing intraday on equities. I have identified few stocks based upon their ATR ( Average True range) for this. So far my hit rate has been around 55% which I would like to make it around 70% . I am putting risk to reward ratio as 1:1.5. I doing trading based upon technicals using metastock. Few queries I had were:
1) Lot of time, there is a large movement ( up or down) in a single bar supported by large volumes. It has been difficult for me to predict such movements which can result into very profitable trades. Currently I am using 50 bar EMA for volumes. Is there a way I can look for certain bar/volume patterns and back test it to predict these movements. Again 60 to 70% prediction is good enough.
2) I use RMO as a reference for few trades. Can someone share their experience with RMO. My initial impression is that, it struggles in a non-trendy market.
3) Is 50 bar EMA good for intraday ? I am planning to experiment with a lesser value like 20 or 15. Any comments will be highly appreciated.
I have recently started doing intraday on equities. I have identified few stocks based upon their ATR ( Average True range) for this. So far my hit rate has been around 55% which I would like to make it around 70% . I am putting risk to reward ratio as 1:1.5. I doing trading based upon technicals using metastock. Few queries I had were:
1) Lot of time, there is a large movement ( up or down) in a single bar supported by large volumes. It has been difficult for me to predict such movements which can result into very profitable trades. Currently I am using 50 bar EMA for volumes. Is there a way I can look for certain bar/volume patterns and back test it to predict these movements. Again 60 to 70% prediction is good enough.
2) I use RMO as a reference for few trades. Can someone share their experience with RMO. My initial impression is that, it struggles in a non-trendy market.
3) Is 50 bar EMA good for intraday ? I am planning to experiment with a lesser value like 20 or 15. Any comments will be highly appreciated.