Event Defining & Profit Taking Strategy

This is a basic trading strategy using Stop-Limit orders placed on Fibonacci retrace on price action taking place in given "phases" Phases are named "Buy" or "Sell" based on the RSI/Stochastic Oscillators in the chart. On overbought conditions we sell, and on oversold conditions we buy. These conditions trigger "buy" or "sell" phases and we react with stop limits placed from the previous cycles price extreme to the new cycles current price - at the Fibonacci retrace level of 23%. Further I recommend pyramiding your orders on the 38% fib as well. Leaving only 15-20% of the equity on the 23% retrace and 35-40% on the 38% retrace.

I am attempting to form a trading strategy which can be automated.

This is not a finished product, and I do not recommend trading on this basis blindly.

Thanks for looking!
评论: Update with the new long based on current state:

评论: Keep an eye on the cycle -- we're a ways off for now though -- :)
@nukenowakowski NIce, next cycle gearing up!
@The_Real_AMF, Yes indeedy -- we'll just hold tight. :)
The_Real_AMF nukenowakowski
@nukenowakowski, this latest spike is playing into the cycle. interesting! Cant wait to see how far it goes
@The_Real_AMF, You're right. We'll see if it goes overbought on the oscillator (cycle change).
The_Real_AMF nukenowakowski
@nukenowakowski, So passing back over the Stoch-RSI at 90% should trigger a sell? I guess the question is how long do you wait after it crosses over to sell? i guess this is where other TA helps with a target?
Thanks for all the videos and analysis Nukenowakowski!

Is this a 5% long position, or a larger amount as you think the market will reverse?
nukenowakowski PRO crypto_teller
@crypto_teller, Fair question. The trade stays long until the RSI/Stoch Oscillator goes to oversold -- at which case a Stop-Limit Sell order is placed at the 23% retracement from the previous cycle low (here that would be 8.7k bar) to the last completed bar on this timeframe. So its a trend trading strategy -- utilizing stop-limits, and measuring fib retraces on RSI/Stoch oscillations from overbought to oversold "cycles" ... pretty simple... but appears to backtest fairly well.
crypto_teller nukenowakowski
@nukenowakowski, I see what you mean, and thanks for re-iterating the signals/actions.

I like that you're backtesting your strategy, using the fib+rsi as an indicator as to where buy/sell the market cycles, and utilizing a layering mechanism to buy further into retracements.

Am just going to suggest that you do a breakdown/deep dive into each market cycle, of your strategy; identifying the critical points, and how you take action. Maybe you've already covered it in your latest videos, so I'll go check them out, but I'm keen in better familiarizing myself into how each cycle played out.

Seems like a solid approach, and I'm keen on developing a medium-term trading strategy.

nukenowakowski PRO crypto_teller
@crypto_teller, I guess we'll see how it works out!?! It has been pretty foolproof so far. Rather silly how well it has worked actually... lol
An automated trading strategy sounds nice..Great work keep it up.
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