Hi
On the system developed by Pride I have tried using a stop order to get into fast moves in anticipated direction. I have also came across a sys developed by you, which uses a 2 bar hi/lo for entry/exit signals, well dare I say it was tooo fast for me :lol:
Anyway that gave me few ideas, when i present it, you will see there is nothing original about them :rofl:
Concept 1:
On your 2 bar system , can we use the stoch on higher timeframe to filter trades (not sure about 30 Mins was thinking more like 15 mins), the entry/exit will still be 2 bar high/low
Concept 2:
This is very similar to Pride's system but without the EMA, also we add 1 more condition to avoid the multiple crosses on OB/OS conditions
Use the stoch on HTF 15 or 30 as the trade setup
HTF Bullish Condition = K > D and both > 40/30
HTF Bearish Condition = K < D and both < 60/70
Undecided/sideways = K > D but either of them is below 30 or K < D but either of them is above 70.
For entry we use the stoch on 5 mins with same conditions as above.
Will like to get your inputs for the above.
Thanks
On the system developed by Pride I have tried using a stop order to get into fast moves in anticipated direction. I have also came across a sys developed by you, which uses a 2 bar hi/lo for entry/exit signals, well dare I say it was tooo fast for me :lol:
Anyway that gave me few ideas, when i present it, you will see there is nothing original about them :rofl:
Concept 1:
On your 2 bar system , can we use the stoch on higher timeframe to filter trades (not sure about 30 Mins was thinking more like 15 mins), the entry/exit will still be 2 bar high/low
Concept 2:
This is very similar to Pride's system but without the EMA, also we add 1 more condition to avoid the multiple crosses on OB/OS conditions
Use the stoch on HTF 15 or 30 as the trade setup
HTF Bullish Condition = K > D and both > 40/30
HTF Bearish Condition = K < D and both < 60/70
Undecided/sideways = K > D but either of them is below 30 or K < D but either of them is above 70.
For entry we use the stoch on 5 mins with same conditions as above.
Will like to get your inputs for the above.
Thanks
These days I am doing scalping on a simple method....I have 13 bars average as the direction in which to scalp....I identify a small bar ( a NR7 or a small inside bar) and if the direction is up,I will buy the breakout of high of that small bar...with SL as low of the bar....and book 1/2 at R:R 2 :1 and balance trailed at low of successive bars...works well,and simple.....
But we can work on it further....
Smart_trade