This week

my previous strategy of small positions at significant support or resistance actually worked ok. Not great but it break even. I was suprised how you can just put a stop order in with a tight stop loss and when it gets triggered it often reverses. I think with a bit more refinement this could be a profitable strategy. It would need a tight stop and really big risk/reward though and it would mean spending most of the time in drawdown.

next week.

  1. Use the hourly.
  2. trade in direction of 120MA
  3. enter on first reversal candle with a tiny stop (like one or two times 1-min atr)
  4. You’ll probably be stopped out so set two new entry points. One near previous candle high (looking for support/resistance on the 1 minute) The other will go back where your first stop was
  5. no more than one two re-entries per hour
  6. take half profit at 5 to 1
  7. set remainder target at 20 to 1