We received an email from one of our long term customers looking at The Odds Maker.

Question:

“Some of my setup entries are based on a specific set of conditions being present such as prices breaking the first 5 min hi or lo candle by +.05 for longs and -.05 for shorts. I use Trade-Ideas to find the candidate and then I enter only under certain conditions such as above. How would i use The Odds Maker where i only enter if the first 5 min candle is broken by .05?”

The question highlights how the alerts in Trade-Ideas flag interesting situations. The alerts connect to other aspects of a subscriber’s tools set (e.g., charts, order entry) to get more details. Often times subscribers will use just a single alert window which provides information in both directions: long and short opportunities.

Instead of just using Trade-Ideas as a heads up, refine the set up to show only very specific situations. In other words instead of using Trade-Ideas to cast as wide a net as possible. Haul it in with a bait specifically tailored for the fish you want. Most users often don’t utilize the full power of the Trade-Ideas filters that can, when combined with other filters and alerts be used to disect virtually any market situation. Specifically for the question above we are working with our customer to reconfigure his set up and get very specific results. Here are some of the filters we are going to be using.

https://trade-ideas.54solutions.com/Help.html#WSF_MinUp5
https://trade-ideas.54solutions.com/Help.html#WSF_MinFCD
https://trade-ideas.54solutions.com/Help.html#WSF_MinRD

The point we want to convey is that it is important to ask questions. We are more than happy to help our customers work on creating a strategy. If you have specific questions send us an email at info@trade-ideas.com.

By the way here is the strategy we came up with:

Enter if the first 5 min candle is broken by .05

The Odds Maker analysis of this trade used this configuration:

Couple of things to note:
1. Trading ends after roughly the first half hour
2. Every position is held for 5 minutes only

What is The Odds Maker?
If you want to see what results The Odds Maker gave for achieving profitable trades with this strategy (which were better than 50%), load the strategy into TI Pro and click run if you downloaded the latest beta version.

Maybe you can do better! This strategy looks for long opportunities. To test yourself you can design the strategy for short opportunities by reversing the filters and changing the alerts.

Sincerely,

Trade-Ideas