Inside Day strategy

[Raheem Suleman]

Hello! I hope you're well. I have a request to build a trading system and would really appreciate if a kind soul could assist me. It's called "Inside Day Strategy". On a candlestick chart, an inside day is defined as a candlestick which is "engulfed" in the previous day candlestick i.e. at the close, the high and low of the candlestick is less than the high and low of the previous day candlestick (regardless if the inside day candlestick is up or down).

On a daily chart, setup is that we need to look for atleast two inside candlesticks. Once the criteria is satisfied, place two orders.

- Buy at the high of the most recent inside day

- Sell at the low of the most recent inside day

SL Rules

- Long trades - place stop and reverse order at least 10 pips below low of nearest inside day

- Short trades - place stop and reverse order at least 10 pips above high of nearest inside day

Profit taking

- Take profit at 1x risk. Trail stop on second lot by 2 bar high or low

Would really appreciate if a kind soul would help me here. Thanks vm!

Cheers!

Raheem

[[Deleted]]

rmsuleman wrote >>
Hello! I hope you're well. I have a request to build a trading system and would really appreciate if a kind soul could assist me. It's called "Inside Day Strategy". On a candlestick chart, an inside day is defined as a candlestick which is "engulfed" in the previous day candlestick i.e. at the close, the high and low of the candlestick is less than the high and low of the previous day candlestick (regardless if the inside day candlestick is up or down).

On a daily chart, setup is that we need to look for atleast two inside candlesticks. Once the criteria is satisfied, place two orders.

- Buy at the high of the most recent inside day

- Sell at the low of the most recent inside day

SL Rules

- Long trades - place stop and reverse order at least 10 pips below low of nearest inside day

- Short trades - place stop and reverse order at least 10 pips above high of nearest inside day

Profit taking

- Take profit at 1x risk. Trail stop on second lot by 2 bar high or low

Would really appreciate if a kind soul would help me here. Thanks vm!

Cheers!

Raheem

Hi Raheem

i bought a cd containing information about inside day strategy but the information was about trading stocks and not forex, i did not trade this strategy yet but i was "paper trading" by looking at many charts to determin if this strategy works and so far i found that 80-90 percent worked...

so i am considering to start trading life verysoon.

did u start trading this strategy yet?

cheers

Anthony