How best can I set up a trading system that can work best on my one hour chart. I use the alligator, RSI in conjunction with support and resistance lines and candle sticks. How best can I make this system more beneficial cause am finding it working sometimes and many fails at some point. Or if u have any other suggestions, suggest.
What’s the % win rate?
What’s the risk reward?
I’d say lose the RSI for starters. I’ve always found trading without indicators a much better way myself.
The alligator was first discussed in the book Trading Chaos by Bill Williams - a great book
You might want to read it if you have not already.
He uses fractals pattens for entry and the alligator when it opens it jaws and eats up prices is basically a descriptive way of a trending market.
He also introduces the awesome oscillator.
For a number of years fractals were a big part of my trading.
If your using fractals you could probably lose horizontal support resistance too.
Simplify your system. Sounds like too many analysis tools being used.
Hi, how you backtested this system? Regards Greg
we the traders have to practice more and more our trading system if we want to bring good result from our approach. its a very common game.
Thank you very much🤗
Yes I have.
ok, how much data you used?