Ok... after discussing this with inandlong, we decided that I would start with some trading scenarios. Here is how it will work. I will post a 5 min chart, with some basic indicators on it, containing 4 days of data, along with the matching futures data. NYSE stocks. The 5th day will be partially shown, and you will be LONG or SHORT on the closing price of the last candle you see. Anyone who is interested should reply, and tell us what their stop and target price is, and their reasoning behind it. In the case that neither is hit, the closing price of the day will be your exit price. After everyone has placed their "bets". I will reveal the full chart, and everyone will calculate their profit/loss. All bets will be 100 shares for simplicity, with 2 cent round trip commish, IB style. Zero slippage. Here is a boring chart to get us started. You are LONG at 59.74 (the last candle on the lower chart) Please stay HONEST and dont go and try to figure out which stock the chart is showing. Now PLACE YOUR BETS! I would also like to try a multiday "swing" version of this, if this little experiment turns out to be fun. peace axeman
Reversals are not part of the rules But you may immediately exit with a 2 cent commish loss if you wish. peace axeman
RIGHT... this is a random entry. You are LONG... you may NOT go short. You may immediately exit with a 2 cent commish cost, if you think being LONG is completely idiotic. peace axeman
For now... to keep things simple, we are not going to do partials. Bt its interesting... so maybe ill switch to that later depending on the load. Im pretty busy. peace axeman
And the results are ------------------------------------- Corallus: +94 cents El Cubano: +74 cents Sanjuro: +74 cents NoviceTrader: +69 cents macal425: +49 - by trailing stop uptik2000: +44 cents JPB: +29 cents Gordon Gekko: +23 cents axeman: 0 ( lets see who cant beat me ) wdbaker: -2 cents inandlong: -26 cents mike s: - 26 cents These results include 2 cent commish. Please note: If you use TRAILING stops, I will not give you the benefit of the doubt if the candles do not give me enough information to determine if your target or stop would have been hit first. The details are below. Please check your own math. peace axeman ------------------------ uptik2000 59.60 stop 60.20 target RESULT: 60.20 - 59.74 - 2 cents = +44 cents JPB stop: 59.45 target: 60.05 RESULT: 60.05 - 59.74 - 2 = +29 cents Gordon Gekko stop: 59.69 target: 59.99 RESULT: 59.99 - 59.74 - 2 = +23 cents wdbaker Asked to be stopped out -0.02 El Cubano stop 59.00 target: 60.50 - 59.74 -2 = +74 RESUL: +74 NoviceTrader Stop 58.95 Target 60.45 - 59.74 -2 = +69 Corallus stop:59.35 target:60.70 - 59.74 -2 = +94 macal425 Target 60.50 Trail hit at:: 60.25 - 59.74 -2 = +49 Stop 59.40 Stop to b/e @ 60.10 and trail 0.35. mike s target 61.35 stop 58.95 result: 59.50 @ the close 59.50 - 59.74 - 2 = -26 inandlong Stop 58.25 MOC result: 59.50 - 59.74 -2 = -26 Sanjuro Target 60.50 - 59.74 -2 = +74 Stop 59.50