My rules are set up to reap profits over the long haul. On individual trades I may lose or give back all profits.
Market the same but the logistics are different? Not sure what you mean by "logistics", would you please clarify?
I am not talking about walking away from a daytrade. As I don't automate other than an ATM, I do not walk away from an open position.
One might think that when you don't see Mac's Trades, but don't let his humble words deceive you, he does sniff out some really good entries.
I am in process of building a new system for my best friend, after 30 years he is tired of working for others doing the same things each day. It is very much like day trading, you know much about what works, back testing where I make my rules, can only trade certain times for Scalping like the first 40-50 minutes of the day providing volatility is low, this is key about volatility. Best way to know when not to trade is size of Bollinger bands, too big and I stop till reduces, if very too big I have to wait for start of new hour and I can only trade this new system for two sessions. The main concentration is not losing, so you watch the MAE a good deal, one has to build signals that offer fewest losses cause mental stops right now are much bigger than gains, trend has to be slower but can change when it has to change fast-that was actually simple to come up to figuring it out-use distance as a rule. So little by little you tackle small elements of one's system. My buddy is coding it, and I know it be the last system I make for day trading, I am tired of doing the same each day, automation by far is incredible.
why do you need a new sys, you already said you are a former pit trader and banked on that experience with your automated algos? You are rich, just sitting back letting your algos cash out?