Pride's Strategy on other Time Frames

newtrader101

Well-Known Member
#1
Admin, please move this to suitable section if necessary.

Friends this is an experiment to see how Prides dual TF momentum strategy works on other time frames. When I back tested manually, it was working fine on other time frames (hrly/4 hr, daily/Weekly) and instruments (BNF, Crude, Silver, JPYINR etc).
(Only one doubt: Is the EMA cross necessary only on the trading time frame (not on the higher TF)?

Today JPYINR seemed a good candidate for shorting on the daily TF.

Entry conditions:
1) Weekly: Stochastic bearish, pointing down.
2)Daily :: Stochastic bearish, pointing down,
3)Daily : Stochastic not yet reached oversold.

4)Daily: 5-13 EMA bearish cross happened.

Entry: 65.1425
SL: High of the last bar or the bar to the left of the last bar, whichever is higher=65.5+.0025=65.5025
Risk= 65.5025-65.1425=0.36 x 1000 = 360/-
TGT: 64.9025 ( This looks unrealistic now as there have been two rejection bars on the daily.)
Potential reward= 0.24 (240)



1576143888615.png


1576143978792.png


Pride says he does not enter at key levels. This trade is near a key level.

Exit:
1. When fast Stochastic reverses from it's downward move, curves upwards and crosses the slow line from below, square off half of the units.

2. If the next bar goes above the high of the previous bar, exit completely, otherwise keep a tight trailing stoploss and let the trade run as long as market is bearish.
 
Last edited:

newtrader101

Well-Known Member
#2
Looks like an opportunity on 1hr -4 hr for Silver:

1576168651586.png


1576168732325.png



Short entry on 1 hr: 43871
SL 44050 (should have been the high of the big red bar at 44542 but fortunately the rejection bar was there.)
Risk 180
TGT: Nearest support: 43500
Potential reward: 375
 
Last edited:

newtrader101

Well-Known Member
#3
Admin, please move this to suitable section if necessary.

Friends this is an experiment to see how Prides dual TF momentum strategy works on other time frames. When I back tested manually, it was working fine on other time frames (hrly/4 hr, daily/Weekly) and instruments (BNF, Crude, Silver, JPYINR etc).
(Only one doubt: Is the EMA cross necessary only on the trading time frame (not on the higher TF)?

Today JPYINR seemed a good candidate for shorting on the daily TF.

Entry conditions:
1) Weekly: Stochastic bearish, pointing down.
2)Daily :: Stochastic bearish, pointing down,
3)Daily : Stochastic not yet reached oversold.

4)Daily: 5-13 EMA bearish cross happened.

Entry: 65.1425
SL: High of the last bar or the bar to the left of the last bar, whichever is higher=65.5+.0025=65.5025
Risk= 65.5025-65.1425=0.36 x 1000 = 360/-
TGT: 64.9025 ( This looks unrealistic now as there have been two rejection bars on the daily.)
Potential reward= 0.24 (240)



View attachment 39211

View attachment 39212

Pride says he does not enter at key levels. This trade is near a key level.

Exit:
1. When fast Stochastic reverses from it's downward move, curves upwards and crosses the slow line from below, square off half of the units.

2. If the next bar goes above the high of the previous bar, exit completely, otherwise keep a tight trailing stoploss and let the trade run as long as market is bearish.
Squared off at 64.6225.
Gain 0.5200
 

newtrader101

Well-Known Member
#4
New trade Natural Gas
Short entry 163.5
SL164. Risk 625
Tgt 162.6 Potential reward 1125

scratched the trade as later I found it was at the bottom of the channel.
Loss=125+ 90 exp= 215
 

Attachments

Last edited:

newtrader101

Well-Known Member
#5

Similar threads

Broker Special Offers

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?