Dam refressing to see this posted! Coundn't agree more. I loves me some hammers at support and resistance. Mumms the word! lol
Yes. It is a set of rules. I haven't automated anything because I am a retail trader with no background in programming/coding. I am a discretionary trader and I execute trades manually.
This is part of the reason why I am skeptical about trading a shorter time frame that I'm used to. I can't truly tell whether it is worth trading after the costs of doing business and the associated human errors. Trading the 4hr instead of the daily means more noise, 6X the trading fees, higher probability of errors in execution etc. I'm currently debating on whether it is worth the hustle.
How often does your set of rules change? When was the last time they changed? Are they Written down? Are they set in stone? You seek funding, no? Do you have a signed, dated, certified copy copy of your rules and performance record set in stone? Discresionary can mean a lot of things to a lot of people, including following your rules as written, or not, at your discression. Some sources of cashola might care absent a rock solid track record with references from some of your longest customers. What would you say belongs in a solid trading plan? BTW, This Is Good Stuff, Thanks.
Why not get a quick and dirty read on what the yield was for your trading plan / System. Substitute nothing but the timeframe and keep all else identical. Pick a random date out of a hat. Apply your Systematic entry stop target exit criteria position sizing to the timeframe of interest to a dozen trades. Far from accurate, yet much quicker than trying it live. If it sucks, you will likely notice that within a dozen and spare yourself the time involved with live execution of anything near a significant number of trades. Just mark up a chart for timeframe of interest starting at the date and time you pulled from a hat. 2 million. It's out there waiting for ya!
It's not that straightforward. First, I would have to backtest at least 10 pre-selected assets - not one. The pre-selection process makes backtesting a total nightmare. There is no way of knowing which 10 assets I would have chosen to trade at that point in time, in a sea of similar assets. Unless I get a time machine, it is easier to just forward-test the system with realtime data. About the 2M, I'm not really qualified to take in investors money at the moment or in the near future. Too big of a responsibility for now.
Take a look at the trades you have executed this month/year. Knock the time frame down. Did you get the same setups. Would you have hit your target or your stop?
So No Single of the products, that you trade more than the rest, is worth even a quick and dirty look at ten of? Puh Leeze, get up off ya ass or stop acting curious. lol. about the 2M, i musta had you cornfuzed with a different post asking about gaining funding. my bad, carry on.