Excellent results. Best wishes for continued success in 2024. I started to study day trading in early 2023, it is based on trend following. Went live in July 2023 and have six moths of combined paper and live trade results. The results are very positive but I could be fooled by randomness. Only time will tell. A couple of general questions if you don't mind: Are you a trend follower or do you use predictive algorithm? Is your system pattern or formula based?
Thanks ironchef. I use a simple breakout strategy. No predictive element other than following the price break. It's both pattern and formula based I guess, since entries and exits are pre calculated. By the way, who's your favorite iron chef?
I have no favorite iron chef, always rooted for the underdog challengers. As a amateur retail, I too am an underdog challenging the elite traders.
For whatever reason, I can pull up @ENQ contract on MT5 that goes back to 1999. So taking advantage of this this stroke of luck with data access, I ran some backtests Backtests of current settings: 4/1-10/31. Can't do continous tests since MT5 time doesnt' adjust with DST. Each test starts with 50k Trading NQ 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 Will run the next tests on a more "aggressive" setting for b/e or profit. Then I'll give my 2c on this.
Basically in and out ASAP, and keep going and hope to God volatility picks up as trading session goes on. 2014-2017 the OR were so tiny compared to 2021-2023. Best "worst case" scenario is to get caught in a range within low volatility. Current settings don't do well in earlier years when NQ range was in comatose 2014-2016.
Default settings 2016 Updated conservative settings 2016 I have to take a loss. I mean can't trade and think that I won't experience the black swan. The question is, how do I soften the blow while maintaining acceptable returns for the risk. I think I like the conservative approach.