- SidewaysMarkets│Day Trading Strategies
- Range Break Out | Trading Strategies.
- Forex Strategies & Systems Revealed
The problem with this approach is after you change the length to (yes people will go to decimals), 85 and back down to 75 it still comes down to your ability to manage your money and book a profit.
SidewaysMarkets│Day Trading Strategies
Now that we have listed the criteria with which we need to choose our software infrastructure, I want to run through some of the more popular packages and how they compare:
Range Break Out | Trading Strategies.
The software landscape for strategy backtesting is vast. Solutions range from fully-integrated institutional grade sophisticated software through to programming languages such as C++, Python and R where nearly everything must be written from scratch (or suitable 'plugins' obtained). As quant traders we are interested in the balance of being able to "own" our trading technology stack versus the speed and reliability of our development methodology. Here are the key considerations for software choice:
Forex Strategies & Systems Revealed
Following the same philosophy, identify the range, wait for price to trade past the range boundaries. wait for price to pullback this creates the entry and stop loss levels. Target is the height of the pattern added to the break out point.
A range bound market offers various opportunities to profit in this market. In this example, the range trader was able to use the zigzag motion to his/her advantage, by simply identifying major support and resistance levels, and then buying at the support level and selling at the resistance. There are various technical indicators that can help determine times of entry and exit points, yet the selection of the currency pair is still the essential and the first step in employing this strategy. Some currency pairs that are known to trade in a range bound market are EUR/GBP, EUR/CHF and CHF/JPY.
Arena is the software for those who have a good understanding of investing and how to build a strategy, but don't want to code or use programs that give you code that must be tested, re-coded and then tested again. We have all been there, you have worked in finance for years now and you have brilliant ideas of putting a strategy together but you are going to either pay a programmer an arm and a leg to code one strategy for you or your going to build it in something that is slow and clunky. It writes out the code for you you copy and paste it into MT9, it doesn't hit the target in just the right place you go back and adjust etc, etc, etc.
My favorite markets to trade are the EURUSD and AUDUSD, but each day I will typically scan through all the major Forex pairs looking for price action trading opportunities. I also trade gold and silver and occasionally look at crude oil, the Dow Jones cash market, as well as some of my local Australian stock indexes.
Overall, my trading strategy might appear quite simple, and frankly it is, but as I said before simple is better in Forex trading. I’ll be honest with you guys, must unprofitable or beginner traders are attracted to overly-complex trading methods and this is usually what leads to their eventual failure. As a trader who has “been around the block” a few times, I know what has worked for me in the markets, and I feel it’s my job to convey that information to other traders. Thus, my main priority as a trading mentor is to teach my students how to trade with a simple forex trading strategy.
Looking at a quick example, once the overnight range has been identified and in an "ideal" location I am now waiting for the pattern to "break out" of its consolidation.
I like to think I am a bit of a “contrarian”, in my trading and probably in my everyday life to some degree too. I’ve often found that if you do what everyone else does you’ll get what everyone else gets, and when it comes to trading, this approach simply doesn’t work. The fact is that most traders struggle to make money in the markets, they get frustrated, emotional, lose money, lose time, and generally have no concrete trading strategy or forex trading plan. So, if you want to be like most other traders who are obsessed with indicators and “magic” robot trading software, you will probably lose money rather quickly, like most other traders.