Thread: Simple Daily Trend System

I've tried several indiorsnonetheless, the fact is that they are ALL Lagging. At best, a few can let you know what's currently occurring, but most will let you know what already occurred. With all this said, many seasoned traders have a tendency to market Price Action with nominal indiors. Together the simple assumption of Price Action, I'd like to share an extremely straightforward idea which may be proven profitable with backtesting...

Follow the daily trend of currency pairs against the USD... that's it, that's all!!

By way of instance, let's think about the eurusd. If yesterday's trend was downward, then place a market order at the opening of today. Although my days are based on GMT, I don't think that it would matter, provided that you cycle back to the same session (i.e. Asian, European, Austrailian, U.S.). The sl/tp = 200/200.

There are filters which may be added to the egy to help extend the border. A few of those filters are: (1) enter just after two consecutive days of retracements (i.e. market up on day 1, down on day 2, up daily 3... daily 4 you would enter an order to move long); (2) input with a limit order in the new day (i.e. if prior day was an up day, then on today's order input with a limit buy order about 50 below the close of the previous day). The basic drawback with (1) (2) is that they can filter out good trading trends that begin early; (3) adjust the risk/reward into a more positive ratio. The issue with doing this is the higher likelihood of a good trade going bad since you overextended the tp relaive to the sl. Another issue is that a bad trade may get stopped out prematurely relative to the tp (i.e. sl=100, however tp=200); (4) a semi-martingale or full-martingale component (i.e. after every 2 losses, double the lot size). Obviously, this can possibly become quite disasterous all too fast.

Overall, this system is banking on the fact that even in a ranging market, it has a tendency to move in a given direction more often than daily reversals. By way of instance, the eurusd can begin at 1.3000, go up to 1.3600 at the end of the week, and then fall to 1.2900 at the end of this second week. In the interim, you might have had the opportunity to follow a couple of days of trending between reversals (possible just 1 - 3 modifiion days. 4 - 8 fad times, with couple of relatively horizontal days). Ultimately, you're on the lookout for a greater than 50% success rate.

Walt

It is a bit surprising that absolutely nobody has reacted to this thread. I wonder ...???

Could be because it's Superbowl Sunday and a lot of people are probably not back in their normal trading moods nevertheless! I am confident you will have a load of people asking you questions shortly!

Originally Posted by ;

It is somewhat surprising that absolutely no one has reacted to the thread. I wonder why...???

Originally Posted by ;

It's a bit surprising that absolutely no one has responded to the thread. I wonder ...???

Thanx Jones for shareing ur egy here. .

I believe it will be better to confirm your excuse by Pic. .

As they said Image worth over 1000 words

Thanx again

It is simply following the daily trend, but providing a lot of space for the intraday whipsaws... occasionally the trend is not evident from 1 day to another. In these times, I then view the trend over a couple of days (or over a 3-day interval if needed ). As stated in the original article, there are a couple of filters that you may choose to include to enhance the probability of success. However, the drawback with several filters is that they occasionally will keep you out of a fantastic trade.

Walt

I figure a reason you may not be receiving the response you wanted is you are not including more details. It is easy, sure -- if the previous day is long, go long; if short, go short with tp and sl of 200, blah, blah -- nothing new. But people may wish to understand, by way of instance, everything you do when the trend changes mid-trade. Can you exit and re-start?

Also, if you post a statement showing viability people might have an interest. Other than that, this thread can get transferred to the rookie section.

Can you show us some of the result?

Originally Posted by ;

I've tried several indiors; however, the fact is that they are ALL Lagging. At best, some can let you know what's currently happening, but most will let you know what already occurred. With all this said, many seasoned traders have a tendency to market Price Action with minimal indiors. Together the basic premise of Price Action, I'd love to share a VERY SIMPLE idea that may be proven profitable with backtesting...

Follow the daily trend of currency pairs from the USD... that is it, that is all!!

For instance, let us think about the eurusd. If yesterday's...

Image worth over 1000 words.

I really don't quite understand your own body. As I see it is about trading regular and whether you go long or short is characterized by provious candle.
Bull candle yesterday - long order today;
Bear candle yesterday - short order today.

In this manner I've added up 128pips on eurusd last month.

Trading brief (as 14sma suggests ), no matter what, each and every day together with sl:100 and no tp(close order after 24h), I would have finished with a result a bit higher than 1000pips.

Perhaps I'm wrong. If so, please tell me at which stage.

Regards,

Originally Posted by ;

I don't quite understand your system. As I see it's about trading everyday and if you go long or short is characterized by provious candle.
Bull candle - long order today;
Bear candle - short order today.

In such manner I have added up 128pips on eurusd previous month.

Trading short(as 14sma indies), no matter what, each and every day with sl:100 without a tp(close order after 24h), I would have finished with a result a little higher than 1000pips.

Maybe I am wrong. If yes, please tell me.

Regards,
dupek.

Hello Jones247,

How have u been utilizing your egy? Are you currently trading demo or live? Can you support using a chart? You mention when to go into the market, then how about exit?