1 hour day trading technique...18thoct

CT79,

This is just my method, other people are doing it differently.


I add 2 points either side to factor in any false break-outs.

Hi Remo,

I assume you mean 23 point target as that's the difference within first hour?

Or is your target always with the 2 points added on either side?

Thanks

first hour high 5876
first hour low 5853

add 2 points ether side
long above 5878 with target of 27 points
short below 5851 with target of 27 points



dyor

Sorry guys just checked this and it was around 12:45 I set the trades based on the first hour. Boy it's been a long day. I'm not fan of London and missing home already

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.

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...