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Allen's Solid Gold Swing Trading Strategy

 
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landisn

Allen's Solid Gold Swing Trading Strategy

I needed a longer time frame, swing trading strategy to fit into my current work/life schedule. 

Came across a forum post by Allengolddatty  https://apiaryfund.com/forum/trading-techniques-0?page=0#new

Started using his 1 hr time frame strategy with good results. 

Here is his basic setup:

 

Indicators:   50 Hull Moving Average (HMA)

                       Stochastic K:15, D:3 Slowing:3

                      6 SMA for exit

Set-up:

            1. need a cross over of the 50 HMA

            2. need a candle to open and close completly on the other side of the HMA or a strong    directional candle

            3. Need the Stochastic leaving the Overbought (80) or Oversold (20) area but no more than 50 in the trade direction

Entry:  Enter on the close of the candle completly on the other side of HMA

Exit:     Stop loss is 5-10 pips above the last pivot

            Profit exit is a crossing and close of the 6 SMA** (see trade management)

Trade Management: Once the trade is Positive 20-30 pips move SL to flat and use 6  sma for profit taking 

I added the volume indicator so I could see how much buying power was behind the move.  Also I found that sometimes if the criteria isn't completely met, a shorting opportunity can be profitable as well. I like trading the EUR/USD, USD/CAD and XAU/USD.

Mon, 07/23/2018 - 7:39am
 
arete07@gmail.com

Hello Landisn,
Is there a reason why are you using 6 SMA, instead of a higher period (50 SMA) for example?
You are trading 1 H chart (intermediate timeframe).

 
Rookie

Allen is one of the Apiary great traders. Read the next sever comments in discussion with Hak, They are pointing out a specific market type to trade this strategy in. Not wanting to burst your bubble just a heads up.

 
Allengoldatty

Ed, Thank you for your kind words

Landsin; I am glad you are having success with the strategy. It is one of my favorites and I know of about a dozen people who/are using it successfully, including my son who used it to get funded. If you have any questions, feel free to shoot me a message.

Red, the 6 sma is ised to take profits, once the trade is up 20-30 pips. I like to keep it tight once I have profit in a trade as I am not a big fan of giving anything back.

Stay Green my Friends :)

Allen

 
Henry007

For setup, what do you mean
3. Need the Stochastic leaving the Overbought (80) or Oversold (20) area but no more than 50 in the trade direction

 
howar80403

I think he means the line not crossing the 50 level in a single move out of the overbought/oversold range.