Anyone know a good 'set-and-forget' strategy?

This is a discussion on Anyone know a good 'set-and-forget' strategy? within the First Steps forums, part of the Reception category; One of the simplest and profitable trading systems is the weekly breakout system. Im fortunate to be able to watch ...

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Old Mar 5, 2008, 11:30am   #9
Joined Dec 2007
One of the simplest and profitable trading systems is the weekly breakout system. Im fortunate to be able to watch the screen if i want as i trade full time.

But for you working then its a good system. Basically it exploits the fact that most weeks go somewhere and once the trend kicks off usually by about Tuesday it will continue till the bell goes Friday. I have to confess i dont trade stocks only forex and then mostly majors. By using black scholes i find the IV of a pair this gives me weekly targets. Use option brokers to find their IV. I divide by 5 days to give me breakout levels hi lo from the closing price friday. I set these as soon as the market opens sunday night. Once a level breaks out the other side becomes stop reverse. I allow a max of 4 times a week although usually 1 or 2 reversals is all required to see me through to friday. It can be traded manually using OCO orders as once a stop and reverse is hit you generally have at least 8 hours to get the other side setup ready.

Well there are plenty more rules tweaks but thats the general idea. It works extremely well in trending markets like the major now and easily grabs 400+ pips a month. My advice don't look for intraday unless your full time you will lose money for sure. BTW i have an IGindex account and this system can be traded on daily spot rolled is still cheaper then futures.

Here is this weeks euro example.

IV 9.75% RR Skew 0.003%

ATM's

15450
14900

278 pip divergence / 5 days = 55 pip break

= 15178 + 55 = 15233 go long
15178 - 55 = 15123 go short

110 pips

278 - 55 = 223 pip potential profit in place for this week.

if targets not met by friday 7.30 pm london time then close wherever.
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Old Mar 5, 2008, 11:30am   #10
 
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Presven

Hi, check www.dowhp.com
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Old Mar 7, 2008, 7:14pm   #11
 
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sorry dowxp.com
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Old Mar 7, 2008, 7:16pm   #12
 
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The correct web is dow mini future | dow index trading | intraday trading system
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