i like approach of having only 20 pip SL.
and from what i understand, this is "programmable" (not by me
).i hope someone will give it a go!
thank you for sharing
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| Author: | dsugums [ Thu Mar 07, 2013 1:16 am ] |
| Post subject: | Swing trading on hourly for once a week trade |
Another simple method for those who like swing trading on hourly charts. This method take only 2 trades per week; trend trading and counter trend based on weekly time frame. Works well for all USD pairings. GBP crosses should be avoided except for GU. Time frame= 1H Trend trading Long trade: PA above 200EMA PA above 50EMA Trigger- MACD setting 7/22 moves above zero line. SL- Max 25pips or when MACD drops below 0 line. TP- Let it run to get the weekly average range or set it to 100pips fixed. Short trade: PA below 200EMA PA below 50EMA Trigger- MACD setting 7/22 moves below zero line. SL- Max 25pips or when MACD drops above 0 line. TP- Let it run to get the weekly average range or set it to 150pips fixed. The trend continuation normally starts in mid week; Wednesday/Thursday. Close all trades by Friday London close. (I moves SL to BE when 30pips in my favor, do not break even too soon!) Counter trend swing trading: If PA moves quite a distant from 200EMA, PA tends to retrace. This normally happen during the start of the week. We can trade it as well, but TP will be limited to 30-40% of the previous week range. I set it to fix 50-80pips of until mid week. Long trade: PA moves above 50EMA. MACD cross above zero line. If PA too close to 200EMA, risk of bounce off or change in trend if 50EMA goes above 200EMA. But will be very choppy durng this transition. Only go long if enough gap between 50 and 200EMA (more than 50pips). SL is 15-20pips max for 50-80pips TP. Short trade Reverse of the above. |
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| Author: | monkeh [ Thu Apr 11, 2013 3:41 pm ] |
| Post subject: | Re: Swing trading on hourly for once a week trade |
i like approach of having only 20 pip SL. and from what i understand, this is "programmable" (not by me ).i hope someone will give it a go! thank you for sharing |
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