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Strategies & Market Trends : Forex Forum
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To: Defiant who wrote (7)6/18/2002 10:59:50 AM
From: fut_trade  Read Replies (1) of 50
 
Here is my basic framework:

Consider trading the emini (perhaps it would work well for currencies, but I haven't tested it on them) on a five minute chart:

For a long position - enter on the close and set the profit level at close plus the 80 bar range. Set the stop loss at the close minus the 80 bar range. If neither level is hit, exit 80 bars from the entry point.

This produces a fairly stable and controlled system in my experience. Of course I haven't said anything about the trigger - which would be optimized using some indicator.

Does this seem like a reasonable approach? I've tried breakout out systems and other approaches, but I've had the best success in terms of backtesting with the approach I've described.
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