Given that I could make up any figure I like, it's not pertinent. The plan is not only simple to test but easy as well. Shouldn't take more than a couple of weeks with replay for you to determine whether or not pursuing it is worth your time. If it's not, then let's shake hands and wish each other well.
Do you not see that the reversal between 730 and 740 on both charts would have had the trader short and a trailing stop place outside the noise would have maintained the trader short all the way to then right side of the chart?
Instead of making up figures, you could just share the real ones. For me, returns in the market separate the wheat from the chaff. I want good wheat. Being able to make up figures has nothing to do with it being pertinent.
And how would you know they were true? The only way to determine whether or not the wheat you have is good is to test it. If you don't know how to test it, see Developing a Plan.
No, it is my sniff test, not yours. You can test all you want. My sniff test is profits, money, returns. Answering the question of "does this work" is shown by increasing pile of money.
Absolutely, but that isn't the point of this exercise. Important levels are tradeable regardless of the time that the test occurs. The purpose of this post however, was to relay my observations of the first hour or so after the start of the NY session. My trade plan, my entries, specifics of trade management etc don't come into it yet. Hang around if you want though, there'll be plenty of mistakes made in the coming weeks I'm sure! Plenty for others to gloat over
So use something else. Makes no difference to me. And why are you posting all this in somebody's journal?
db, perhaps you are getting defensive without cause? as to why, I already posted that in my first post "I'm considering paying closer attention to you but this is my sniff test..."
No one is trying to gloat. Rather, I believe you are attempting to learn to catch every turn when in reality, you could probably do better by learning to take less than 5 trades a day--many times just one. It's very clear on the charts that the short I described could have been maintained for a long time with trailing stops. I just ask that you consider in your analysis.
Understood. Thanks for that. I'm not trading those intraday 'turning points', merely observing. Whilst my trade plan isn't finalised yet, I can't see myself taking more than a few trades a day based on the stats I've looked at thus far. I can see where you are coming from though.