Intraday Trading System based on Next Day's Range Prediction

Discussion in 'Trading' started by PoundTheRock, Nov 15, 2017.

  1. Suppose I can predict with 70% accuracy whether or not the next day's range is going to be above or below the ATR. Which intraday systems would you recommend for trading narrow ranges, and which intraday systems would you recommend for trading wide ranges?

    Thanks, PTR
  2. wrbtrader


    Where's the list of intraday systems to do a comparison ?
  3. I love threads like this. Similar to the person's tomorrow's price today thread. The average poster doesn't realize all trading is predicting.
  4. I'm using machine learning to predict next day's range. Just because next day's range is predicted to be high doesn't mean ORB is going to work. Just because next day's range is probably going to be low doesn't mean counter-trend is going to work. Typical dumbass responses lol.
    johnnyrock likes this.
  5. Handle123


    Narrow range trading is like when one see's a Megaphone price pattern, avoid breakouts and literally buy on support/sell on resistance and risk small, or buy lows of whatever bars/sell highs of them. Whereas in wide range, price seldom comes back far enough on retracements and breakouts are prime of entry.
    beginner66 likes this.
  6. Turveyd


    Just go short when your at the high of the day on M5, M15 and H1 charts and make $$$$'s.

    Tried various sites over the years, which give a prediction of next days high / low / close / whatever guess what, it's not possible, all predictions are bogus.

    Give up, move on!!
  7. bone

    bone ET Sponsor

    ADX, ATR, and Bollinger Bands are all volatility based technical indicators. Which are an on-the-run snapshot based upon a historical sampling timeframe of your choice (unless you just use defaults which is stupid).

    Which is the problem.

    There is no predictive value in anything technical or fundamental - trading is all about calculated risk.
    digitalnomad likes this.
  8. Turveyd


    Bollinger Band with the right logic, m1 scalping on its own working great for me. 70%+'win rate and making more than I'm losing, victory!
  9. bone

    bone ET Sponsor

    Yes indeed that sounds sexy !

    There’s literally millions of ways to trade market (some much better than most) and if you’re fortunate enough to find something that works for you and you have confidence in it then ride that horse until it drops dead.
    johnnyrock and richie90 like this.
  10. Turveyd


    And quite a few method's I've found over the years, by random trial and error, prove to not have legs and do drop dead, the simpler the method the more likely it won't drop dead.

    Something else will get in the way, always does, the universe sucks, but really wouldn't live anywhere else.
    #10     Nov 16, 2017