the system had an expectancy of +.11%. that means per trade i averaged a .11% gain. so it did make money....but really, after commissions it didn't.
actually, you're incorrect here. i'd say at least 50% of the trades were shorts. you can tell which are long and short by looking at the entry and intial stop. if the inital stop was lower than entry, it was a long trade. if the initial stop was higher than the entry, it was a short. you will also see that all my longs were in good uptrends and all my shorts were in good downtrends...but my trading still sucked. ?????????
UST, oversold and showing reversal signs. Went long off the wiggle, stop under LOD. Exit as the easy money is made from the double top retest. Risk .50, reward +.52.
SPC again oversold, showing reversal signs. Possible breakaway gap, so I waited 30 min and bought a break to new highs. Stop under lows. Again, once it was obvious the easy money was done, I exited on a time stop as it based. Did I leave some on the table? Yep, but I'm after the easy money in a choppy enviroment, so mission was accomplished. Risk .45 reward .47 Good luck and Good trading, -Bo Yoder
Bo, would you expand upon this concept of "time stop" and how you implement it. I regularly wrestle with letting my setups play out or closing them (profit or loss) after xxx number of minutes if they haven't moved much.
When I enter a trade, I have a clear opinion based on my experience that lays out what the stock should do. If the stock gets weak kneed as SPC did, 8 times out of 10 Iâm going to be unhappy with it in a few bars. So I exit while the levels are thick, and I have a no slip situation. Bank what gains I have and move on. Good Luck and Good Trading! -Bo Yoder