Strategy 10/20


16 pip gain on trade number 3 this week. Sloow and steady but consisten. The swings got pretty wild on this trade. Just missed my target on first swing up and it hit later.

GJ


Another winner. 4 wins in a row. 3 out of 4 trades is more typical. 12 pips won on this trade, this makes 49 pip for the last 4 trades.
No replies on this 10/20 method, I guess it is pretty dull, but for me it is steady as long as I work to pick good trades.

GJ


Another winner. 5 wins in a row, 11 pips. This a total of 60 pips on these posted trades. Nice run with a fairly simple strategy.
I would invite positive comments and constructive suggestions from readers. I’m for ways to improve my trading.

Thanks,
GJ


Another winner,14 pips, total 74 pips.

GJ


Current trading pending.
Stopped out, -12 pips.

Hi GJ

Nice idea. How do you figure out the Stop Loss?

Many thanks.

RJU

Hi Greg. I’m always open to new systems that might work for me. Would like to try this one out but can’t seem to find a Donchian Channels with the center line. Can you tell me where to find one for Mt4? Thanks.

I also would like to know why Donchian Channels and not Bollinger Bands, for example, or other channels. Thanks

rju.

I generally use the lower donchian channels to look at the range of trading. I might go to 15 minute chart and look at the channels lines which are areas of support and resistance.

GJ

gmcarr,

I have used Donchian Channels for a long time. I have also used Bolinger Bands, one is not better just different. For me I can see pullbacks best with DNC’s, seeing the price bars cross over the center DNC is something I watch for when seeing pullbacks within trends. In addition observing all three DNC lines moving up or down is helpful in reading a pullback within a trend.

GJ

Not exciting, pretty dull, but has high level of success. My definition of perfect trading. I am quite happy to get my excitement elsewhere!!

Do you move your stoploss to BE or trail it? How is risk management with this strategy? Thanks.

I use this strategy on various time frames. I usually try to get 10 pips on first contract and then move to BE for second contract. Good luck

Hi Greg, i really like your system. Please keep us informed on your trades!
On which Timeframes usually do you use it? 5,15 and 30 Minutes?

If someone is interested i found an mt4 indicator for Donchian Channels, but i can’t post urls :frowning:

Cocoon,
Here you go. Yes I make steady but not remarkable gains. This is a pretty basic trade. I thought the babpips readers had pretty much dismissed this strategy. You know I’m always with the trend. You do have to be pretty patient waiting for the set up. I don’t get obsessive about it, I just check the markets during active trading times and look for sets. The Donchian Channels help ID stop levels. This is a 5 minute chart, I’m usually pretty conservative in setting targets. I like 15 set ups too. I will scan different time charts to see what the larger trends are and sometime take a trade on a larger time frame if the set up is observed.
Thanks for your interest.
GJ


I saw this opportunity some minutes ago. How do you know when to aim for 10 or 20 pips? that move hitted +10 pips 3 candles after the breakout and went down another 10 pips after 2 more candles.

There is another short opportunity now forming on the eur/usd?
Thank you for sharing!

I think bolinger bands are fine, for me they serve a different purpose. I like the DNC becuase they act like levels or pivots. I see the Bolinger bands more for ranges and extremes in the price action. I also like the linear feel of DNC with the movement of the price bars. This method is not rocket science and it is purposefully simple. Too me it is mostly pullbacks within trends.
Don’t look for trades in ranging or flat markets. I like to see a nice angle on the 50 sma, the 20 sma works too and in combination with the 50 sma. But I like to keep it simple.

GJ

Attached is an interesting 3 hour chart that meets the criteria.


I will monitor to see if it is a good long.

GJ

40 pips winner on a short with the 15 chart. This trade used the idea that a not impressive jobs report was coming out and there was time to get in for a chunk of the move.
GJ



Here is a short waiting to hit a 40 pip target on a two hour chart.

Greg