Monster

Discussion in 'Trading & Investing' started by Dary, Jul 1, 2016.

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  1. Dary

    Dary Dary McGovern Staff Member

    Any information provided is for educational and illustrative purposes to demonstrate the type of strategies that can be set up on TIMETOTRADE. Any investments or strategies discussed are not recommended or endorsed and you must carry out your own research before making investment decisions. The following is a real trading example.

    Monster is trading in a channel:

    Screenshot 2016-07-01 14.40.31.png

    I'm going to use the TIMETOTRADE Trigger Trading Technology™ set up a strategy to buy at support (blue) line and sell at resistance (green) line. To set up the long entry trade in TIMETOTRADE to buy at support, click on the blue line and use the triggers to check if the price drops below the selected trendline:

    Screenshot 2016-07-01 14.16.28.png

    The alert is checking the hourly candle to see if the price crosses under the support trendline, with the alert checked on each tick. When the alert conditions are met, a market order will be sent to buy 25 shares with a 5 dollar stop loss. The trade will only execute if there is no position open when the alert conditions are met and will not be reactivated i.e. it will only execute once and then the alert will be paused:

    Screenshot 2016-07-01 14.19.45.png

    Click on the blue button to Pause the alert until ready.


    I am lowering the upper green resistance line to give the trade a higher probability to filling. If the price rises above this line, with the alert checked on each tick, the position will be closed and any active alerts paused:

    Screenshot 2016-07-01 14.23.06.png


    I am going to add an order to close the position if the Upper Bollinger Band closes below the blue support trendline. I am using a 3 period, 2 deviation, hourly interval Bollinger Band. By using the Bollinger Bands, it reduces the probability of being spiked out of a position. The lower support trendline has been lowered to align with recent lows and the Bollinger Band alert is checked on each tick on the hourly candle:

    Screenshot 2016-07-01 17.07.34.png


    If the Upper Bollinger Band breaks the blue support trendline, the position will be closed and any active alerts paused:

    Screenshot 2016-07-01 17.09.25.png
     
    Last edited: Jul 1, 2016

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