finding a strategy

K

ketank

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Hello

I need help in finding a strategy for my type of trading, the below is the basis framework,

Day trades (1-5 days)
Willing to loose £50 a trade
Working on 3.1 ratios

Would they be anyone willing to maybe push me into a way of thinking or trading in order for me to get these results?

Rgds

K
 
ketank said:
Hello

I need help in finding a strategy for my type of trading, the below is the basis framework,

Day trades (1-5 days)
Willing to loose £50 a trade
Working on 3.1 ratios

Would they be anyone willing to maybe push me into a way of thinking or trading in order for me to get these results?

Rgds

K
Click to expand...


Ketank

There are literally loads of free strategies available on various web sites. Forexfactory has some interesting ones. Have a look at this one:

http://www.forexfactory.com/showthread.php?t=14630

You haven't said which market you trade, but the above is a 4 hour strategy designed for Forex; however, I'm sure it would work on any instrument.

Best thing to do is have a look, then tweak it and test it for your own purposes.

Best of luck.
 
Hi,

Wow had a quick look but quite a lot of info so will have a in-depth look at, but yes Forex is the one I'm thinking of moving into, but like you said if tweaked to meet one needs it should work on any instrument.

The key for me is to find some sort of system; I will look at this and let you know what i think. But seriously thanks for your reply.

At first I thought no one would reply cos what I was asking for is effectively a "million doller question" and felt quite silly asking but have realized without a system there is no point trading.

K
 
One of the best books about building a system is Van Tharps "Trade your way to financial freedom". Excellent book if you building one up from scratch, turned my trading and thinking around dramatically. It's freely available on the internet for you to download if you know where to look :cheesy:
 
As you look for day trading strategies. Remember that some of the most simplest strategies are the most effective and profitable because they don't require significant maintenance and adjustments.

Because most markets are very dynamic, you will have to decide what components (entry signal, risk management. money management, ...) in your strategies are the most important to you.

Overall, any strategy, simple or complicated needs to have a positive expectancy. (see Van Tharp)
 
PualoP said:
One of the best books about building a system is Van Tharps "Trade your way to financial freedom". Excellent book if you building one up from scratch, turned my trading and thinking around dramatically. It's freely available on the internet for you to download if you know where to look :cheesy:
Click to expand...


Please Please can you send me a link?? :cheesy:
 
Thank you very much.... got lots to read.


I will let you know what i think and how i get on next week. :p
 
ketank said:
Thank you very much.... got lots to read.


I will let you know what i think and how i get on next week. :p
Click to expand...

I look forward to that ketank! Especially as I haven't read Van Tharp myself. I think I've done my fair share of going out of my way to find and read trading books. Now I do the boring bit: waiting for the market to come to me!

Nicos
 
4hr MACD stragy is very interesting; I am going to paper trade for a while with this strategy. But one thing I noticed it not all charts present the MACD in the form shown in the examples. What software-charting website is good for MACD.
 
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