30/34 Rules: (by gb007):
1. Enter whenever a closing bar closes above/below the 34 ema ((RTH ONLY) by at least 1 full point (.99 doesn't count) in the direction of the closing price above/below the ema.
2. Stop is 5 points from the ema until you are net +70-80 then play without stops.
3. Always take +30 points profit (This number changes depending on
market volitility each month). It is currently at +40.
4. Always in the market (including overnite) except when you have just taken profits or have been stopped out and are waiting for the next entry.
5. New traders should wait for a theoretical drawdown of 35-40 points before starting to use the 30/34 since in the past 6 years it has had a drawdown of -90 and several in the -60 range. In the past six years its minimum gain has been +500.
6. I suggest new traders trade the 30/34 in a separate account and start with $10k to avoid exiting from fear, emotion, etc.
Notes on the script above:
- does not use stops
- uses only the first crossing bar as trigger
You can see some backtesting results here. (May take a while to load.)
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