Sorry , I wrote the previous post "at visual memory" The trendline starts at 1452.5 (time 12.30 am) and pass on 1464, the first nice pullback and your support level (time 1.08 pm). (note: I use the minimum of the first pullback to find and validate any trendline) first breakout -> time: 1.30 pm. You stay in because 1464 is your support level. then you will never see a value lower then 1464. Obviously that if you see a value of 3 points lower the support e.g. -> 1461 you close the position. 3 points because with 2 points they firing all guys (lol !) Positive divergence -> time : from 2.12 to 2.18 pm.
when back testing, one should take into consideration slippage, bad fills etc.. this can be done statistically (check in the past what was typical slippage etc..) if you don't try to back test ultra short scalps, bid/ask don't matter, as long as you take into account slippage. (i think you can't back test ultra short scalps).
Matrix1955 More important:they works against you not against their collegues on the floor....... Just like you do not trade against your collegues. So what's the difference? The idea that day traders take money from other day traders will just never go away. I assume that's what you mean.
Hi Cesko, there is a subltle difference between us an them (floor in): they have same software,same systems,same little lag,and same realtime information. And all these things are better then ours..... too much disparity. Have a great gain!