Problem statement: given the US session tends to move the greatest number of points during a 24 hour cycle, what mechanical entry and exit techniques would capture some part of that move and provide positive expectancy without significant drawdown?
Things I'm think about:
- market structure as framework for bias
- window of time for range breakout (entry)
- London news, Treasury open, US open
- Mid afternoon (NY time) press statements / FOMC etc
- Capturing over-extensions
- time exits, price exits
- stall exits
Rationale for thinking about this:
- Funded trader swing accounts
- Second engine for delivering returns, ideally non correlated with scalping (but probably not the case due to structure bias)
- Something I could teach my child
I'm wary of needing to spend six months writing an algo to achieve this, so ideally it's 10-20 mins a day of some basic measuring and calculations followed stop order entry. That would preclude any clever if/then/else reversal logic, but that's ok since we're trading with a bias and we're patient.
