Day Trading Strategies

Hi all!

Does anyone have any day trading strategies or links to day trading strageties that I could get started with?

I should probably expand a little... Having taken a quite a few months off from trading due to being over involved and having no coherent plan or strategy, I have now found myself in a position whereby I will have the chance to attempt trading full time in a month or so.

I would like to make the most of this opportunity and attempt day trading, therefore I would like to build a day trading plan/strategy over the coming month and then go live full time.

Does anyone have any advice on how to do this? Should I find existing strategies and back test them myself or should I perhaps attempt to create my own? Does anyone have any good bases to start from?

Any advice appreciated!

fxtrades wrote:Hi all!

Does anyone have any day trading strategies or links to day trading strageties that I could get started with?

Obviously you need to find what is right for you but it would be worth having a look at www.piphut.com. Mark Norris there posts an EU signal most days but the greater value can be found by reading his analysis and learning how he comes up with his signals then applying it yourself.

Also the No Brainer Trades thread on FF is good. I'd suggest just reading the posts by BillyRayValentine. Somewhere on here I've attached a link to a piece of software that will allow you to download all the posts from an FF thread then you can just go through them by username to save time.

Lastly if you are looking for something mechanical there is an FF thread called The System II. Only worth reading posts by Feb2865. It's a breakout of the initial swing of the London/NY session. I think if you use this system as is you will lose money but I've spent a lot of time back/forward testing it across a number of pairs and there are trades of this type that have a high rate of success. I use it on 3 pairs and only make about 40-50 pips per week in total but the risk/drawdown is very low so I can trade a large size. Not as easy as just following what is in the thread though, you need to look at hundreds of trades to get a picture of what works.

All the best

Chris

jopester wrote:

fxtrades wrote:Hi all!

Does anyone have any day trading strategies or links to day trading strageties that I could get started with?

Obviously you need to find what is right for you but it would be worth having a look at www.piphut.com. Mark Norris there posts an EU signal most days but the greater value can be found by reading his analysis and learning how he comes up with his signals then applying it yourself.

Thanks Chris, that's excellent. I'm more than happy to put the time in and fully realise that no system / strategy can be taken to be good, however having a starting point is very useful and even more useful if the reasoning behind a signal is also given.

jopester wrote:
Also the No Brainer Trades thread on FF is good. I'd suggest just reading the posts by BillyRayValentine. Somewhere on here I've attached a link to a piece of software that will allow you to download all the posts from an FF thread then you can just go through them by username to save time.

I have the software your recommended and its a life saver, I have read some of this thread, however I'll have to revisit as its been some time since I reviewed that thread.

jopester wrote:
Lastly if you are looking for something mechanical there is an FF thread called The System II. Only worth reading posts by Feb2865. It's a breakout of the initial swing of the London/NY session. I think if you use this system as is you will lose money but I've spent a lot of time back/forward testing it across a number of pairs and there are trades of this type that have a high rate of success. I use it on 3 pairs and only make about 40-50 pips per week in total but the risk/drawdown is very low so I can trade a large size. Not as easy as just following what is in the thread though, you need to look at hundreds of trades to get a picture of what works.

All the best

Chris

I also did some backtesting on a morning breakout method, however never got to put it into action due to having to be up quite early and this was too much combined with working alongside this. Like yourself, having tested 3 months, I found it wasn't making a great deal of money, however equally if its not losing any money the strategy can be taken and improved to try and filter out the signals that gave the most negative results. I think I'll start out demo trading (or trading very low money) with this and look to improve the results based on findings.

Still here and the plan remains the same, have been preparing for the last couple of weeks and will be going live full time from 3rd Jan trading around SR on both long term and short term trades.

Email me at fxtrades80@yahoo.co.uk if you want to share ideas / discuss trades or post back to this forum as it seems to have gone a little quiet

Happy New Year everyone!