I believe that is a given, since he is most likely talking about the main equity indices, as opposed to, say, Gold.
Well then, this is a no-brainer, right ? Buy ES/NQ at 4:15 pm, Sell at 9:30 am next day. No other logic......no matter bear market or bull market ? I think his stated stats are due to the "bull bias" syndrome....and I'll bet the drawdowns on this super-simple strategy are phenomenal....which are not mentioned. Let's start to track this strategy, shall we ?
I started working this on the ES sim some time ago, but couldn't keep track of it for long because of RL trading. It ended up at BE. Granted, I was not doing it due diligence, because it was sim and not serious. But I recognized the folly of it, and thought that holding THROUGH the overnight and recovering during the day day was a better idea. I never fleshed it out, because Oct 2018 was too damned painful. Which is about the time Rickshaw vanished from the forum, until 2019. And yeah, the draw-downs are real. K, not as phenomenal as the shit I do, but without further testing, the true results cannot be known.
Looked though my journals, and this is what I have... Maybe you, @syswizard, can pick up the slack on this idea in testing? Hmm, it did not end at BE? I thought it did. But I can tell you, it simply would not have worked through anything other than a bull market like those time stamps. I think my BE thought came in that if you did it through a correction, all the bull profits would have been lost, and gotten back on the rebound, thus the BE. I interpolated. Sorry. And you can see trade number 13 there? That is when I forgot about the thing, and got lucky and closed a week later in profit. I'm not the one to test shit like this, unless I am getting paid to do so. Otherwise I do not pay too much attention to it, hehe.
Yes, I'm working on it. Something is wrong in your stats: # of Trades Per Day should be 1.00, not 0.24. You gotta handle the weekends properly....or should we ignore the Friday 4:15 pm buy ? Maybe the Sunday buy order should be at 6:00 pm instead ? Note: you are only showing 16 days of trades....why the short time-frame ?
It is 16 days of trades, but look at the time frame. It is over a 6 month period. Would you like it more concise? I can reduce the end time to reflect the actual trade period. (Welcome to Ninja journaling. And note as I mentioned in my post above the journal, it is SIM.)
Re-ran the journal with just that trading range, it is exactly the same. A quick calculation shows that 16 trades into about 67 days = .24 trades per day.
How did you handle weekends ? Did you skip the Friday 4:15 pm close entry ? My thinking tells me we should have 20 trades every month or 40 trades for a 2 month period of time.