System Messages

This forum is for members of the Apiary Investment Fund. To learn more about how to get involved,
sign up now for a 14 day free trial or fill out the form below and preview the training right now!

123 Trading Strategy

 
Back to Forums
 
 
gman2000

123 Trading Strategy

Hi Everyone,

Here's a new strategy that I have been experimenting with for the last few weeks. As usual it works best in strongly trending markets. Try it out for yourself and let me know if you have any ideas on how to improve on it.

I like to use it as a trend continuation entry technique.

1) In an uptrend I wait for the pullback to the 50ema. This short term swing low forms point 1

2) Then I wait for price action to pop up and then stall out - This short term swing high forms point 2

3) Then I wait for a weak retest of point 1. This short term swing low forms point 3. 

4) Then I set my Buy Stop a few pips above point 2 and my stop loss below point 1.

5) I setup my 1st profit target equal to the distance from point 1 to point 2. If this hit I move my stop loss to break even and then switch to a 2 bar trailing stop.

I'm still working on this method, but I have had some reasonably good ROI so far.

Mon, 01/29/2018 - 10:51am
 
peterkhenry

How is this strategy working out, and what the Risk to reward, I also trade pullbacks on the 5 Min aligned with the trend of 15 Mins - 30 Mins