What happens when you change time in trades ? In other words how would profit/ loss be if you only trade 9.30 to 5 est. I have found for example although there are good moves afterhours if I don't sit and manually manage positions , when I wake up next day or don't pay attention , I could be under the water considerably. I even find waiting until say 9.45am before entering ensures a larger profit. But easier said than done.
The backtests did not prove more profitability by trading RTH. You always have reversal brackets around the trade, even when sleeping! (if you on a half/bracket that just means you do not have a reversal target, but this system never goes without a reversal stop) At the time the trade is entered is when the brackets are entered, there is no discretion! This removes the "pulling the trigger" or the "scared to take a trade" issue. Just enter the trade and go to sleep with the volume up full blast on the speakers (unless the wire is on your toe ). If you go to work, just have your platform turned on and when you hear on audible alert, cancel and re-enter your new bracket. The only time the system goes flat is on Friday's CLOSE. Michael B.
I glance at the platform from time-to-time throughout the day, and notice the price hangin' out near the reversal long at 9991. Apparently, it has gone up as as close as 9979, so far. Michael B.
New brackets force a reversal to LONG at open. YM closed at 16:00cst at a settlement price of 9957. When placing that price in its position on the new equation template attached you will notice that it falls in between the long at L3 of 9937 and the short at h3 of 9977. So the system will become NET LONG after switching at the OPEN. Trade #43 will post after the open as I do not know what the open price will be. Since I am listing the trades hypothetically I will use the open price for the entry, to stay consistent. When evaluating this for real trading remember to include 2 or 3 YM points slippage plus commish on each side. Michael B.
While logging these trades, I got an idea. Why not trade each level including H1, H2 and L1, L2? plus add new levels to each end H5, H6, H7, H8, H9 and L5, L6, L7, L8, L9? and Exit MOC (trade 24hrs, re-calc and re-enter new brackets each open at 19:15cst)? Use the PSM I have suggested in this thread. Would look ike this: H9 Long H8 Short H7 Long H6 Short H5 Long H4 Short H3 Long H2 Short H1 Long L1 Short L2 Long L3 Short L4 Long L5 Short L6 Long L7 Short L8 Long L9 Short Any Comments? Michael B. This would solve the consecutuve loss problem, but would it be profitable? Do you folks want to test this in a new Journal after this Journal? If so, I will need to add levels to the existing equation.
I was working on the new equation, and I found myself asking, at these levels what is happening? (not static) I think I get it Steve . There is a dynamic for each section of the rubberband. As the rubber band stretches it reveals that "slice of dynamic". Michael B. P.S. Steve, I guess I am going to need to fly to your part of the world and buy you lunch. (do they have Mcdonalds there?, HeHeHe, just joking )