Free, Simple Index Trading System - Many Pips Per Day

[nkruger]

A FREE SIMPLE INDEX TRADING SYSTEM FOR THE DOW, DAX AND FTSE USING SPREADBETTING​

I have detailed part of this system on these boards before (Dow 0.35% Strategy) and I use it together with a simple strat on the Dax ( Go long if it reaches and goes above yesterday's high and go short if it goes through the previous day's low )

Today, they have both worked exceedingly well, ( over 90 pips so far ) so I thought I'd look back at the same system for the footsie - and for the last month, there was pips to be earnt most days.

So there you are - give it a try. And for all you newbies, this is a simple system that you can get going with - without paying lots of wonga to those Snake Oil Sellers !!

 

[shadowninja]

Interesting. Works in Forex, too. Needs a wide stop, though?

 

[nkruger]

Interesting. Works in Forex, too. Needs a wide stop, though?

Mmmmmm.

1) Which pairs ?
2) What times do you use for the trading day in FX to get the highs & lows ?
3) Don't use stops*, Haven't really needed them. Have to watch screen though.
4) Do you use it ?
5) If so, how long have you been at it ?



* Nothing for the SB companies to hunt !!

 

[shadowninja]

1) Which pairs ?
Only had a look with EUR/USD.

2) What times do you use for the trading day in FX to get the highs & lows ?
Ah. What do you recommend?

3) Don't use stops*, Haven't really needed them. Have to watch screen though.
Really? How do you decide if it isn't going to work?

4) Do you use it ?
5) If so, how long have you been at it ?
Not used it. Just looked at last few days.

 

[nkruger]

Could someone.....

Could some kind soul please backtest this strat for the FTSE please. I would do it but I've not got the software or numbers. Could be quite pleasing - I've done a month back

I thank you (in anticipation)

 

[nkruger]

This should be the link to my 0.35% DOW STRATEGY.

http://www.trade2win.com/boards/showthread.php?t=24229

 

[nkruger]

Really? How do you decide if it isn't going to work?

On the few occasions that it looks like it's going "t1ts up" I will close the trade manually around -10 pips.

 

[nkruger]

2) What times do you use for the trading day in FX to get the highs & lows ?
Ah. What do you recommend?

Not sure - not really into FX

 

[nkruger]

Interesting. Works in Forex, too. Needs a wide stop, though?

Just got some cable charts up (I've been looking at the Vegas Tunnel Method) and this does work a treat !! Thanks mate.

I've used midnight as the end/start of the trading day.

 

[shadowninja]

Did you try it today with GBP/USD?

You'd have been laughing more than Mr Laughing Hyena in a Laughing Competition on National Laughing Day.

 

[nine]

Nice system.

I traded an eod system like this once.

It combined buying break over a range + a noise factor with buying PDC + a noise factor if and only if you 1) had significant momentum in that direction (say high RSI) and then had 2) a momentum pullback (say 2 declining days on the RSI).

Exited by trailing chandelier type stop or opposite signal.

So there is another (good) free system

 

[the blades]

Nice system.

I traded an eod system like this once.

Why did you stop?

UTB

 

[nine]

I discovered that I could do better by using a couple of moving averages (or a couple of channels) and watching price action at those points. And, being a bit of a perfectionist, I wanted to do better.

Its worth noting that trading price or price and some form of potential support and resistance is psychologically harder than trading such indicator systems where the entries and exits are clear and unequivocal. Its still a good system.

 

[the blades]

I discovered that I could do better by using a couple of moving averages (or a couple of channels) and watching price action at those points. And, being a bit of a perfectionist, I wanted to do better.

Its worth noting that trading price or price and some form of potential support and resistance is psychologically harder than trading such indicator systems where the entries and exits are clear and unequivocal. Its still a good system.

thanks for the response.

UTB

 

[MoonlitBay]

Hi, I'm new to spreadbetting, could u pls tell me if the example below is correct?

e.g.
FTSE yesterday's low was 6170, the high was 6289,
if the FTSE go past 6289, then we go long,
if it drops past 6170, then we go short.

is it right?

Thanks!!!

 

[MoonlitBay]

How do we know where is the exit point?
Thanks!

 

[nkruger]

Hi, I'm new to spreadbetting, could u pls tell me if the example below is correct?

e.g.
FTSE yesterday's low was 6170, the high was 6289,
if the FTSE go past 6289, then we go long,
if it drops past 6170, then we go short.

is it right?

Thanks!!!

Good morning MLB and welcome.

You are correct in your assumption.

Looking at yesterday's trade, we had a short signal at 6209 and I entered at 6206 at 08.42 and closed off at 6196 (net 10 pips) at 09.05 and then re-entered short at 6205 (09.34) until 10.54 (6178) for a net 27. My daily target is 25 pips, so that got the day off nicely.

 

[nkruger]

How do we know where is the exit point?
Thanks!

For me it's a case of keeping my eye on my daily target. With the strategies I use during a trading day I am fairly confident of having 3 - 5 trades a day, so if I can see a quick easy 10 pips I will grab it, knowing that there will (probably) be another opp along soon. Work out what you want out of the day and work your trading towards that.

 

[nkruger]

And, today's 1st trade....

Today's 1st trade was a loser unfortunately. Shot down at 8am to 6162 and I closed out at 6170 a couple of mins later.

 

[davidnmfarrell]

Hey whats happening with this system? Are you retired in the bahamas already!