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Thread: Strategy 10/20

  1. #1
    Greg Jones is offline Senior Member
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    Default Strategy 10/20

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    This is a strategy that takes advantage of retracements with a trending currency.

    Strategy10/20 is not new. It is available on at least one Paid web site, but it also out there on the net.

    I have found it gives me consistent returns of 10 to 20 pips on a five minute chart.
    I have found the the 35/65% levels on the RSI give more trading opportunities without any additional loss.

    I would be interested is sharing ideas and improving this strategy.

    Set up

    5 minute chart
    RSI set at 5, 35, 65
    SMA at 50
    Donchian Channels set at 21

    suggest these currencies
    eur/usd
    usd/chf
    aud/usd
    nzd/usd
    eur/jpy
    gbp/usd
    usc/cad
    gbp/jpy
    jpy/usd

    Rules
    Long
    Enter long when there is a upward movement of the currency. The price bars should be above the 50 sma.
    Watch for a dip in the RSI to above 35%.
    Watch for the price bar to fall below the center Donchian Channel.
    Set an entry at the center Donchian Channel.
    All three Donchian Channels must be moving up.

    Short
    Enter short when there is a downward movement of the currency. The price bars should be below the 50 sma.
    Watch for a rise in the RSI to above 65%.
    Watch for the price rise above the center Donchian Channel.
    Set an entry at the center Donchian Channel.
    All three Donchian Channels must be moving down.

    Targets are usually 10 to 20 pips. I watch the channels and often use pivots to guide stops and targets.

    Thanks,
    GJ
    Last edited by Greg Jones; 06-09-2012 at 10:16 AM.
    barabtois likes this.


  2. #2
    Greg Jones is offline Senior Member
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    This was a successful trade last week, fairly straight forward, DNC moving up, RSI dip below 35% and price bars above 50sma.
    It would also been nice to have a second contract with a target of 20 pips and or moving the stop to BE.

    GJ

  3. #3
    Greg Jones is offline Senior Member
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    This is trade #2. Gain of 11 pips on the trade. I could have gained much more if I had moved a second contract to B/E and let it run. I had to leave the computer so I set a conservative target. This method is not exciting but has a high level of success.

  4. #4
    Greg Jones is offline Senior Member
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    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

  5. #5
    Greg Jones is offline Senior Member
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    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
    Last edited by Greg Jones; 06-12-2012 at 05:23 AM.

  6. #6
    Greg Jones is offline Senior Member
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    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

  7. #7
    Greg Jones is offline Senior Member
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    Another winner,14 pips, total 74 pips.

    GJ

  8. #8
    Greg Jones is offline Senior Member
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    Current trading pending.
    Stopped out, -12 pips.
    Last edited by Greg Jones; 06-13-2012 at 01:31 PM.

  9. #9
    rju
    rju is offline Newbie
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    Hi GJ

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

    Many thanks.

    RJU

  10. #10
    gmcarr is offline Newbie
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    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.

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