A whole new bunch of people, Quah Anomaly, if you want your system to attract attention, you're going to have to create a whole new jargon set along with several thousand pages of explanations. Only then will the desperate cling to you like a liferaft. Good luck to you.
I applaud anyone who would post a method on elitetrader. I remember reading something about this method in one of Larry Williams books, i can't remember which one right off the top of my head but it jogs my memory and i remember thinking it was an interesting concept. As i remember he didn't use the 1:00 he just used a little over 1% move on the day whenever it hit to go long or short from. Nice post....i look forward to reading more. pierson
Actually, believe it or not, the system has merit. We tested something like this a couple of years ago and got fairly good results back then. Its very useful for all kind of traders. There are very solid underlying reasons why the system works. Very good post, nobel intentions! Cheers,
On this method, is there any time you stop looking for entries? For example if it gets to be 2:56 and you would exit and 3:00 would you still take it? How long have you been watching/trading this method for? I went through and tested this method by hand on the nq for July and August...i'm sure i'm off by a few points because it was just a quick hand backtest. July -23 points August +48 points I wonder how the performance on the NQ compares with other markets. I will try to go back and see how it did on a couple more months if i get some time this week. Thanks, Pierson
Well I wasn't watching for 4:00 precisely but that was +$200 (paper) for me with it today......-$5 net $195.