1 hour day trading technique...18thoct

This is where i will adapt the strategy slightly.

Can't post a chart at minute.

But if you join highs,
02/05/11
17/10/12
18.10,12
7,11,12 i get a daily downtrend at 5911.5.

I would therefore place my exit just below this downtrend. Its only a few points difference, but thats how i have been doing it.

Amo, had fun today on this!!

short at 5877 this morning around 9.45, stopped out at (12.30), 5896. This then reversed to go long.
long at 5896 (12.30) stopped out at 5877.(15.00)

Talk about turn right at the points!!! (strangely, right at my stops!!

Lost both ways!!

Typical. when i put the levels in it goes wrong...This system has been on fire for the past 2 months now.
Im gonna keep putting in the levels for a while now so please do your own research.
People have asked for this so ill try and do this as much as possible.



DYOR

It has been on fire!

Only day i have lost twice! Wiped out 36 Pointsl!

Thats quite funny though, you put totals up the day it didn't work!! twice

Perhaps it might be best to avoid using a system when the price is so close to a major support or resistance? Systems tend to work best during trends and S&Rs are key turning points (usually) so those days ought to be volatile as the bulls and bears battle it out.

FTSE looks a lot like its forming a pipe top today having twice failed to even reach the 5911 resistance. Will be interesting to see what tomorrow brings...

I'm on a course throughout this week via work and its 9-5 so can't Trade this properly. I was felt able to set the trades at around. 10:30 (first break) then unable to check my phone to close until around 6. With my luck I have ended up even for the day but think ill have to refrain from trading this system for this week.