70% success rate Forex intraday strategy

This strategy has three inter dependent events : Rally, Waiting and Crossover.
Generally Algo platforms wont allow such things to be put in script and back tested.

Yet this strategy can be manually back tested on
1. historical intraday charts
2. Live intraday session

My personal experience is that the success rate of this strategy is very good on Indices than other segments.

In equities if the rally price action is fixed as 2% then the success rate is very high, but only while scalping.

No doubt this strategy is a powerful tool, when applied properly.

 

If you can't get a meal out of it , how can it be any good?

 

You need to develop an exit strategy. It may be trend, scalping, range bound, etc, which depends on your trading preference.

Trader has to choose :
1. Segment (Index Future, Index Option, Equity, Commodity, Forex)
2. Intraday OR Positional (Yes, this strategy can be applied on EOD chart for positional trading with a suitable rally price action)
3. Trading Style (Trend, Scalping, Range bound, etc,)
4. Risk reward ratio (Eg: 1:1, 1:2, 1:3, etc,.)

Each individual is unique. His trading preferences will also be unique.

 

forex trends are choppy

how can you apply same strategy for non trending instruments?

Need to make for this everyday

https://www.google.co.uk/search?q=l...ved=0ahUKEwj5mbLlxrbPAhVMK8AKHUz0CA4Q_AUIBigB

 

When choppy adopt range bound strategy. When trending apply momentum strategy.

 

Once again so good view about trend market, actually I like with price action and to looking support resistance area also only look on pattern candlestick that occur on past time, if scalping trade only few hour open and closed order whether also we need stop loss or will cut loss if already past sixty minute but still on floating

 

can you please show how you do this with a chart?

I can find out whether there is a rally or trend by observing its volatility pattern.
Rally has mantis shape whereas trend has queen ant shape.

Rally -



Trend

 

thank u

.

 

The strategy works best within 60 minutes from the rally.

I leave the exit strategy to traders, which includes choosing your trading style (trend, scalping, range bound) and risk (stop loss) reward (target) ratio.

 

I purposefully did not included a chart in thread, because the chart pattern can be anything.

As far as the entry rules are concerned, do not assume anything other than what is mentioned in the strategy. Just look for the Rally->Wait->Crossover sequence.