i am badly in need of a good trading system suitable for daily timeframe.........with at least 75% accuracy.
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good trading system for daily timeframe?
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Some people have no clue but when they get in the game they learn quick . I will give you an easy system and I bet you'll lose if you don't have displine here it is plot the stanard MACD on a 1HR or 15m chart along with the daily pivot points including the Mid-Pivots those are the indicators watch how price reacts at the pivot levels sit on your hands till the price breaks a pivot level when it does enter in the direction of the price break look at the MACD you should have a MACD cross in the direction of the trade then exit your trade at the following M1-M3 or M2-M4 or if the Break accured at the central pivot there is usually a range bound day which means the price with either go to CP-R1 or CP-S1 if it's a bigger range then it will bounce between S1 and R1
now if it is a wipesaw break the MACD will tell you to get out becuase price will be diverging from MACD signal. Easy system learn it professionals trade the 15M and Hourly chart and most of them use only the Pivot Points some will also plot a 50 period SMA with this system for additonal filter and only trade if trade is indirection of the trend of the 50 periodSMA.
an even easier system plot the 50 period SMA or Ema which ever you preffer if price is above the 50 EMA or SMA take long only Trades if Price is Below the 50 EMA or SMA the take only short trades your going to add the Momentum indicator and only trade in dicection of price in reference to the 50 period SMA or EMA once the momuntem indicator is above the 100 line and the price is above the 50 period SMA or EMA go long now if price is below the 50 period SMA or EMA and mom ind is reading below 100 line go short very easy system exit is when one indicator doesn't conform with the other
so if price is above 50 period EMA and mom is below 100 get out mom is changing take profits
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Originally posted by SweetyGirl View PostIchimoku is great, but those daily trades are for very calm traders
Good LuckLast edited by FloridaTrader; 26-07-13, 02:28.
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