The new strategy grinded out a few bucks this week...net positive by about $500 since strategy start.
I canned the NQ day trading strategy. Ended up a few bucks but it was way to distracting with my day job (even though it was automated).
Ended the third quarter down a few percent. At the start of September I started trading stocks on an active basis. So far the results are very promising, especially given the fact that September was a down month (stock trades were up). The approach is to trade breakouts (discretionary) on the daily chart and hold for as long as the stocks decide to run.
Basically how I go about things. Have a watchlist and await pullbacks then the breakout. Also, I'll take oportunistic trades, stocks which are off the radar and have spectacular moves, but that requires doing a little research that it is not a pump and dump and the stock has a high chance of success, eg checking out the quality of the directors, market cap size etc.
I took one small $500 position trade yesterday on a known shit stock, a shit sub penny stock, shit directors, gold explorer Africa, bottom of the barrel, pure 100% gamble, but I took it only due to the enormous size of trades which were hitting it. Rare for me to take these type trades, it was priced at $0.004.
I am still very much running more my core auto strategies on MES. It is only the new day trading strategy on NQ that I shelved. Those strategies hardly use any of my capital so I am starting to trade stocks and a little crypto.
Nice...I got Mark Minervini's book "Think and trade like a champion" and am using a elements of his VCP pattern. I have the following scan I run in stockcharts.com. Stocks from that scan that look good will be added to a watch list and will be acted upon if there is a breakout. // Trend Template [Close > SMA(50, Close)] AND [Close > SMA(150, Close)] AND [Close > SMA(200, Close)] AND [SMA(50, Close) > SMA(150, Close)] AND [SMA(150, Close) > SMA(200, Close)] AND [Close >= [Min(253,Close) + [Min(253,Close) * 0.25]]] AND [Close >= [ Max(253,Close) - [Max(253,Close) * Max(253,Close) * 0.25]]] // VCP AND [adX Line(14) < 30] AND [ATR(50) > ATR(7)] AND [SMA(50, Volume) > SMA(7, Volume)] // Stock Universe AND [type = stock] AND [SMA(20, Volume) > 200000] AND [Close > 5] and [country is US] My current holdings include: VTSI - Entered 2021-9-10 at 9.32 CLR - Entered 2021-9-15 at 42.61 PAG - Entered 2021-9-16 at 95.25 ICL - Entered 2021-9-23 at 7.31 JLL - Entered 2021-10-01 at 257.83 I have had five small losses so far with ATH, CALX, CYRX, SNAP and CVS.
I look at a couple of things in particular on my algo, a breakout in daily volume which is greater than 300% of long term average and I also need to see a minimum daily turnover (price*volume). On the ASX turnovers are much smaller than USA markets so not much point me giving that figure, but a high turnover in a stock signals there is some serious interest in the stock. Now, take pump and dump stocks, you may wish to eliminate these. The way I do it, pumpers are retailers so they have limited capital. I look at the minimum time stamps, in my instance 1 minutes tf's, and I want to see large trades going thru per minute. on ASX for example, retailers don't trade $100k trade sizes ever or constantly, so, if I set my sights on watching 1 minute trades and $100k sizes going through frequently, good bet this is not pump and dump. My example of the sub penny shit stock I bought yesterday, this was being hit with $150,000 trades and larger at times throughout the day.
Is the subexpression Code: [Close >= [ Max(253,Close) - [Max(253,Close) * Max(253,Close) * 0.25]]] correct? It appears to be true for any Max(253,Close) >= 4 (assuming prices are not negative).