Or 2000 - 2002. I saw many people lose their behinds doing what worked for 98-99. Have fun while you can but what are you going to do when this average down strategy no longer works one day ? You have been rewarded for a bad habit and because of this you can screw yourself pschologically when the trading environment changes and it will as the market has shown us time and time again that no one wins all of the time following the herd.
Why do you say that, emg? We've been chopping around for a while, but at least the chop is large enough to trade - if you're nimble. We've already established a 10 pt. range of "chop" in the first 40 minutes. Interesting that we keep opening higher, then fading lower quickly, then grinding sideways to higher. Been happening alot lately. Today's only slightly different so far. Looking like a ranging day so far to me. We shall see. I generally spectate for the first hour before looking for any entries. AM. Edit: Sorry - 10 pt. range was on NQ not ES. I'm trading NQ today.
Just based on early action and volume the entire day will be untradable, at least according to my strategy. Ah well. Wish I could backtest instead while the market's open, but my data feed seems to explode before 16:00