Simple Intraday Trading System

Good approach you have there, until 1 A.M Est. However, European market is usually the turning point...not sure if 2 pts stop is enough. Do you look at overnight carry trades and other factors as well?

What about indices such as SPI and nikkei that runs overnight?
Do you trade or watch for their closing price and price during re-open and capitalise on the differences?

Besides Indices, are there European or Chinese stocks listed in U.S that exhibits such minor 'arbitrage/spread' opportunities?

 

backtesting - i used ts to do a big backtest and a forward walk on it with unsampled data. i guess i should have mentioned this prior but thought it was a given since i gave an opinion on it. but to clarify for some - the system has a good profit factor but not winning percentage. the pf was well over 2 "wow" but the downside was the % profitability was around 40. so there is the trade off. still i would trade it with some position sizing techniques. one of the better simpler systems i have seen on the net in a while and refreshing.

mb

also note i use really big stops like 450 bucks on one emini. nothing ventured nothing gained.

 

i'm with you what is it long or short cant be both doesn't seem like a well detailed trading plan. i guess you could test every which way and figure it out. mb

 

How long into the session would you wait till you get your interday highs/lows?

 

I like to start looking after 30 minutes

 

i say lots of system that work nice but this is one of the best

just my opinion


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tarot reading

 

Can you please point us to some other simpler systems you have seen?

Thanks

 

sure an old man who i respect alot told me about a system he used - but he was never able to test the crap out of it because of a lack of resources like data, computing power, software etc.. he just knew he had observed something and he made money with it.

it is a simple little system and i have always admired both the man and the system. by R.L. Mc Alister i hope he is still around!

take the pivot and a simple moving average and on a five minute chart buy or sell when the current bar closes and it's average length of 10 based on the close is above for a buy the stop becomes the pivot or slightly less optimize this. the sells are just the opposite. do not trade for the first optimize this minutes of the trading session.

i will dig out the code, mb

 

Thanks

sorry-this is unclear

1) what do you mean by pivot?
2) what do you mean average is above? above what?