The 250 tick chart is better than the 248 tick chart because obviously the 248 tick chart is missing two ticks.
Sorry, I ashcanned TradeStation a few years ago. I will say this would be deadeasy to test in tradestion, actually didn't an earlier poster do just that and showed that this system didn't work? I did a fair number of tests using this type of approach where you take profits quickly and generally found that over time they didn't do too well. Thsi was before the e-minis were available however. I don't discount the possiblity that you can make a little money doing this, provided you can be on the right side 80-90% of the time. What I see as the downsides are the impact of commissions on $50 profits and the inevitable larger than anticipated losses. Also of course the total absence of big profits.
There are a lot of assumptions being made here - I don't know how anyone here could backtest this system since I haven't said what parms I'm using for stochastics or even what period chart I'm using those stochastics from. I have no intention of playing any games with anyone here by not disclosing my exact setup - but I didn't want to have to defend that setup either. I will say that the stochastics indicator I'm looking at is coming from a 2 minute chart. Like I said originally, I don't think it matters what you use for your direction basing indicator as long as you are comfortable with interpreting it, and, of course, it works. As far as the times being key or not to the system - like I said, I'm not claiming those specific times are magic. If I traded the open of every one minute bar using the stochastics I am now using, and by the rules (profit and stop) that I'm now using, I'd lose my ass. When I only trade it at those times, I don't seem to lose my ass. So you tell me, what is the key here? Is it the stochastics interpretation or is it the times? I'd say it is neither - I'd say it is a combination of the two. Are there other times that would also show profitable trades using those rules and those stochastics? Absolutely. But just because it might be possible for a system to make more money it doesn't mean there is something wrong with the system.
I don't really care if anyone likes the system or not - although it may not seem that way. I'm just trying to correct any misunderstanding about my thoughts behind why I would even trade such a system, and any incorrect assumptions about the intent of it. As you said, the system will speak for itself. I don't really care if anyone like my cars - but if someone looks at my car and says "Man, why would you want to ride that crappy motorcycle", I'd try to explain to them that it isn't a motorcycle, and maybe that is why they don't like the car.
If you made a trade every bar with ANY system it will most likely lose. Your timing system is not random, but it is arbitrary, even if it is consistent every day. The coin flip example could be a coin flipped every morning @ 9:29 to determine whether the system locked in at 3 or at 10. Ah well I think there's not much more to be said for me -- good luck! I too am eager to see your continued results.
Aha. You say my timing system is arbitrary - and you are correct. But so is every other indicator ever created, and that is my point. This indicator (the time) is just like any other indicator, period.