Advanced technique #9 (System Selection Technique)
Submitted by Edward Revy on September 18, 2008 - 10:21.
Choosing the right strategy for trading is a strategy by itself. (from Edward)
All credits and special thanks to Arsalan, the author of this technique.
--------------------------------------------------------------------------
Hello everyone and thank you Mr.Edward Revy for publishing my ADX+EMA SYSTEM.
I want to share one very good idea with everyone.
This is not a trading strategy but a technique to determine which system to use and when. There are many systems available to use some are trend following systems like moving average crossover and some are oscillator based system which utilize indicators such as Stochastic, Rsi and William %R but if all these systems are good then why they work sometimes and sometimes they fail?
The reason is selection of a good system at wrong time.
Read entire post >>>
Hi friends,
I have never used this method in intra day trading so i cannot say for sure that this system will work for intra day trading.I mostly use opening range breakout strategy for intra day trading so i never even tried to test it.I will soon post a method to select trading systems for intra day trading.
Regards,
Arsalan.
hye Arsalan,
can u explain about this, its a bit confusing because there are more than 3 levels of ADX
1)ADX is below 20 - USE OSCILLATOR BASED SYSTEM(RSI,STOCHASTIC ETC.)
2)ADX is above 30 - USE TREND FOLLOWING SYSTEM(MOVING AVERAGE,MACD ETC.)
3)ADX is at 45 or above it - BOOK PROFITS.(Wait for new entry)
4)ADX IS RISING FROM LEVEL BELOW 18 AND THEN GOING ABOVE 23 - USE TREND FOLLOWING SYSTEM.
5)ADX DECLINING FROM LEVEL ABOVE 30 AND THEN GOING BELOW 27 - USE OSCILLATOR BASED SYSTEM.
thank you.
Where to find full stochastic in MT4 pls help..
On MT4 Full Stochastic = Slow Stochastic.
Thomas
Post new comment