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Daily trading strategy using ADX

 
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btrognrud

Daily trading strategy using ADX

Plan:

Daily goal: > 50 pips

Win:Loss > 60% with wins > 2x losses
Trading hours: 19:00-20:00 and 05:00-07:00 CST (00:00 - 01:00 and 10:00-12:00 GMT)
Safety: Never risk more than 1% on a trade, max daily pip loss <100, Watch event calendar and exit trades before event
Pairs: AUD/USD, EUR/JPY, EUR/USD, GBP/USD, NZD/USD, USD/CHF, USD/JPY, XAG, XAU
Spread: <0.7
Continue to learn about price action, watch for pauses, continuations and reversals
Set stop loss at 1/2 of ATR for timeframe traded and set TP at 2x SL or just below resistance

Strategy:

Using pairs listed above, and ADX(14)/DMI 

If ADX increasing and greater than 20 on Daily time frame AND

> DM+crosses above DM- then goto 1 hour and 15 min timeframes to look for buy entry 

> DM- crosses below DM+ then goto 1 hour and 15 min timeframe to look for sell entry

1 hour ADX rules same as daily, 15min timeframe used to enter position looking at price action, continuations and reversals

 

Sat, 06/23/2018 - 9:26am