hmm so electric if that 90% win system works... why not trade it???? i dont understand. or it doesnt work? also have you actually papertraded what you're suggesting or you want others to do the testing for you?
Thank you for voicing your concerns. Yes I have traded the 90% system. No I will not test the system in the opening post of this thread. If I commit to trade the system for you will you help me? Michael B.
You see, I have been trying to be polite to hypotomus. I really do not know why you folks are fixed on this opening trade? Michael B.
Electric savant, I've been thinking about something similar to this for a while. I think if you went with a 1 point target, and 3 point stop, you'd win about 67% of your first trades. If your stopped out, you reverse your position with a 5 point target and a 15 point stop. If your stopped out a third time, you reverse position with a 21 point target and a 63 point stop. Or you exit on close. Using this strategy you'd have to win your money back about 99% of the time. Entry criteria is almost random except for the fact that you're reversing in the direction of the immediate movement which in effect makes it a momentum strategy. Obviously you can keep reversing forever. They comes a point when your bould to loose everything. Whether it can break even after costs I'm not sure. But it's an interesting idea. Runningbear
Your not joking with me are you? I had not thought of this. You are using the correct ratio or at least the one I prefer (1:3). Something seems wrong with your model, but I can't put my finger on it. Michael B.
How would you treat reaching the target? Would you enter a continuation trade? The third reversal seems meaningless with that wide bracket. It just an entry with an MOC exit isn't it? Michael B.
Do you have the stats on the second trade....on those days (33% of the time) what percentage would be winning trades on that second tier. Michael B.