Tuesday 13 August 2013

130813 Patience and Discipline NB on M1 strategy



PL: +2% / £36.80 (didn't quite put full size on) CAP £2516.02

Trades/Action:
A.  Price needs to RL to 252 before I trend trade (can counter trend trade back into 252EMA)
1. REV thru 252 (+2). Exit TPO
B. Price needs to RL to 252 before I trend trade (can counter trend trade back into 252EMA)
C. Price needs to PB to 252 before I trend trade (can counter trend trade back into 252EMA)
D. Price needs to RL to 252 before I trend trade (can counter trend trade back into 252EMA)

Notes: 
Lots of cross overs / downs (XO/XD) of the 252 EMA without a following PB (pullback) or RL (rally) that I require. This is because the 252EMA represents the LT trend to me and as such a RL or PB to it is highly probable, so trading away from it before it has done this can be quite painful on reversals! Glad I spotted all of the XO/XD and despite feeling like I missed some profit in the PM, acknowledge that it is far more important to follow my strategy than discretionary trade.
Potential M1 TF strategy idea playing around with.  trend  = 21EMA/50SMA. Trade with the trend
 ie 21 above 50 =  long.  Trigger price PB and closes below 50SMA (mark lowest candle's high),  Confirmation Price close above 50 SMA and trigger's high. RRR1:1 ISL conf low + 4 pips,  Exit cls ag 50SMA
.


Summary: Strategy performed well and so did I. A good day.

2 comments:

  1. Thanks TC, just got to repeat the bugger now ;-), Hope you're having a good week.

    ReplyDelete

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