Emini S&P trades

Discussion in 'Index Futures' started by Thundershock, Jun 15, 2008.

  1. I've developed a system and, I think I'm ready to try it out for real but first to make sure that I'm not being biased or what not in my thinking, I'm going to post my trades on here everyday as they happen. In order to minimize any emotions, I'm going to exit every trade when it goes up 2 points from the entry price and have a stop loss of -3 points. My goal is to average 4 points a day. Any comments or questions are welcome.
     
  2. affan

    affan

    How long do you intend to hold the trade?
     
  3. Just pointing out the obvious... this strategy requires 60% winners to break-even, not including commission/fees and slippage. Certainly, it's doable to do better and therefore be profitable, although that seems a large "burden" just for break-even, especially when starting out. I suggest you find a technique that will allow a few of your winners to run.

    Good trading to you
    Osorico
     
  4. Unless you have a clear edge, risking 3 points a trade to make 2 points is a losing game.

    If you do have a clear edge, then why is your goal only 4 points a day?
     
  5. I realize that I need at least 66% of my trades to be winners including commissions but I think it's doable. I figure I'll probably make about 5 trades a day and based on my preliminary research I think 4 points is what I can expect. We'll see what happens. I made the stop loss that low because it seems like a lot of times when I go long it doesn't really start going down until it's gone lower than -3 points.
     
  6. by all means if the trade looks really good, you can hold onto it for longer than 2 points, but I didn't want any emotion getting involved in the trade or I guess I should say subjective thinking because there is nothing that drives you crazier imo than when you could have had a nice profit but held onto it too long and it turned into a loser.
     
  7. I should also mention that I will only be making trades during regular market hours, 9:30EST- 16:00 EST although some might be held until the closing at 16:15
     
  8. Why don't you first use a simulator first, become consistent using your new method, than go live? Best of luck.
     
  9. Where can I get a free simulator that doesn't require me to sign up for anything? I've already backtested the strategy over the past three months and it seems to work.
     
  10. I'm probably going long at 11:00 assuming we don't break the low set from 10:30-10:45.
     
    #10     Jun 16, 2008