Trading a Sideway Market
Today's day class revision is on trading with SkyLand on an hourly chart using SiMSCI (since most of the traders and Tom are SiMSCI's Fan)
The data are from August 2018.
First 5 trading days, 4 trading opportunities at Land & River. Basically, SkyLand application is very similar to Emolines or Waves.
Trading results for the fist 5 days ==> Positive ==> S$2,460. Every trade is using 3 standard lots.
Second batch of 5 trading days. 7 trades with 2 failed trades at Sky.
Result ==> Positve ==> S$1,350.
Third batch of 5 trading days. 3 trades.
Result ==> Postive ==> S$1,710
Forth batch, 5 trades, with 1 failed.
Result ==> Positive ==> S$990
Last batch, 2 trades.
Result ==> Positve ==> S$690
For the month of August 2018, using just SkyLand with 3 standard lots, we gain a total of S$7,200
If you are more advance, you can also paired SkyLand with Fibonacci.
The 3 circled signals are nicely sitting at Fibonacci level as well as Sky & Land.
I was also telling one of the day trader in class whom only like to "buy", try to look out for candlestick signal when it touches "Land". Be extra careful when prices has reached "Sky" if you have not exited your long position. [Buy at Land, Sell at Sky]
When prices are crossing the "River", act according to buy/sell signal base on the sample theory as Emolines or Waves.
I think this is a pretty straight forward methodology on how to use SkyLand.
Happy trading :)