Just want to share my trading strategy.
I’ve been using this for years, and although i’ve had losses and wins, but in the long run i’m doing alright.
Right, my trading is pretty simple actually, i trade on a monthly basis with a usd 100k capital and trading at 10 dollar pip value.
The only indicator i use is the 200 sma line, if the candles are above the line i’d buy and close my sell, and if the candles are below the line i’d close my buy and open my sell. That’s it.
Of course i didn’t have 100k in the beginning, but i didn’t start trading unless i have that kind of capital. Well, long story short, i make enough money to live comfortably so it’s all good.
This is certainly a simple, objective and age-old set-up but I’d have to understand more about drawdown in practice to see it as part of a viable strategy.
Also, I see it probably working better on something like the Dow, which basically lives above the 200.
Its emotion free, which something i really like. Sometimes the simplest method can be the most profitable, well, at least for me. Any variables can easily be endured with strict money management plan bro. Take it with a grain of salt, you can also use this as a guide or an addition to your own trading plan. Cheers
But suppose its Day 23 and price is above the 200 - that price is above the 200 is surely not the only part of the TA picture you need to make an entry decision, as opposed to a “wait” decision?
I’ll simply wait for the candle to close. And of course my entries and exits are always at the end of the trading month. It’s a type of discipline i’ve developed over the years. Point is, simplicity is my style
You mean you are not using multiple timeframes, support resistance, Fibonacci ratios, price action, moving average crossovers, rsi divergences and trading on the 5 minute chart? How can you possibly be profitable ?
It is a well established fact that merely taking signals off of an MA without a filter, on any timeframe, does not result in profits. That’s why I was attempting to get some clarification regarding the strategy details, to determine whether I’ve missed something. What we have received in terms of responses from the OP thus far is sparse and vague. Given the assumptions that I have made in my previous posts in this thread, I do not believe that this strategy will work.