Strategy / rules:
As the day progress previous day high and previous day low will be acting like a trailing stop loss. It is a simple long-short system where the system is always in position.
Previous Day High Low Breakout Strategy
Read more at https://www.marketcalls.in/amibroker/trading-the-previous-day-high-and-previous-day-low-breakout-do-simple-strategies-really-work-part1.html
NOTE:
I have been using various versions of this for many years. Eg.
Like I have always been saying system is not so important as your ability to manage risk and stay in the trend as long as possible. Without this no system will ever get you money.
- Buy if the price touches previous day high with stop loss as previous day low
- Sell if the price touches previous day low with stop loss as previous day high
As the day progress previous day high and previous day low will be acting like a trailing stop loss. It is a simple long-short system where the system is always in position.
Previous Day High Low Breakout Strategy
Read more at https://www.marketcalls.in/amibroker/trading-the-previous-day-high-and-previous-day-low-breakout-do-simple-strategies-really-work-part1.html
NOTE:
I have been using various versions of this for many years. Eg.
- buy on close above last month's high SL at 2 weeks
- buy on close above last week's high SL at 5 day low
- buy on close above prev hour SL at 10 bar low etc
Like I have always been saying system is not so important as your ability to manage risk and stay in the trend as long as possible. Without this no system will ever get you money.
No comments:
Post a Comment