I have a pretty strong feeling the NQ trades in a range today. With lots of good swings. My reasoning is that i've got this NQ mechanical system. It has 40 point draw downs every once in a while, but immediately afterwards, it gains more than it lost. Anyway, the system uses stochastics. And so I beleive today will be a range day, with lots of swings. Anyone have any coments for today? Maybe i'll post some of the trades that my system takes. This is the first day i'll be using real money on it. Thats why i waited for it to have a big drawdown. Kinda like buyin the dips and sellin the rallies. Good luck today.
love the nuiansces of different systems...mine got me long the ES at 917.25..flipped it at 918.25...thats what makes the world go around
lundy, I am curious why your system thinks today will be a range day, because of yesterdays strong trend move?
The system trades everyday. It is I who think that today will be a range day due to the nature of the equity curve of the system. It's max draw down is roughly 40 points, and it experiences those quite frequently. Yesterday it had a 40 point drawdown. So today, it is likely that the equity curve begins it's climb to new highs, as it has done after previous draw downs. This particular system does very well in range days, so I beleive today will be a range day.
Does your system use stops? I say that because you must have been -13 or so on the NQ short before it turned in your favor. Or have you found it better to just let it run until a sell turns into a buy?
as it is now, it doens't use stops, it reverses on a buy signal. i'm working on a version that uses tight stops.