Irrelevant to the R10, but what do I know? Hightick was 81.75 at 15:15, closing with 76.5....Again, there were 2 entries at 79.5 and 82 (missed by 1 tick) from the reaction lows, it is personal who picked which one....
I see what you are saying now (along with Pekelo and NoN). I admit to human error on this one. I've been thinking more about this today and I think I will start trading it with actual account and go from there. That way human error will be factored in completely. Also, then we can also factor in sleeping, being away from the computer etc. I will look to start trade real money at the beginning of september after labor day.
Jagmot , Have you given any thought as to what kind of money/trading style (allocation) you would use.....the reason I am asking is that I have yet to identify a "hard case scenerio" that would have any real affect on your bottom line, but I do see a couple of methods to build up the account. Not rocket science. The benefit is the 3:1 ratio. I am inclined to think this could be successful (still early days) if you stay cool and let the profits build gradually, but I have to say that you may want to consider the allocation to pick up +3 profit or adjust the s/l and let the remaining "freewheel" according your wishes. Bottom line....YOUR MONEY, YOUR SYSTEM.
Just wanna say good thread jagmot, Pekolo, NiN, volente, Old Trader ...anyone else I missed. Thanks for all the shared ideas.
vol, could you give me an insight on that? Using r10 on ohlc from prev day worked today if you bought the first dip (prev close 1274.5 go long around low 1265.2) i agree with you that looking for an absolute exact 10 point entry isn't ideal
This whole 10 entry/3 loss is empirical. Maybe after backtesting dozens of variations we would get that 9.25 with a 2.25 loss is the most profitable. Nevertheless lots of variations would do just fine, so I really don't think there is an explanation to it, beside that the market tends to pull back after a bigger move one way....
Between you and me, I've never really used the 24 hours charts anyway. And in that regard, just using RTH charts seems like it works fairly well too. For instance, yesterday's last swing high during RTH was 1275.25. This morning we opened slightly over 10 points under that level at 1264.75. Just an observation. I don't know about you, but if I were using this strategy, I wouldn't be doing it at night. LOL. OldTrader