I know maybe most of you got bored with my new-found system. I also got frustrated no matter how much I made new system, rarely I trade it right. Hope this time I made it through.
1. Green Bar strategy...
As usual, a bias following the green bar. This week there's four out of five days having green bar.
- How many I follow exactly from the bias? Only two.
- How many I used CM pattern from the bias? none
- When was the biggest profit I made from? The day without the green bar.
How ironic :)
I backtested the green bar day, there's one day with poor result. Others were fine. I wanted to tweak the green bar strategy again but sometimes it should be a bad day. I jsut may let that one day gone.
2. No green bar strategy...
I checked the green bar. Most of the time, when there's no news and no green bar until 09.30 EST, there'll be no green bar at all. But when there's green bar after those time, I'll follow the GB Strategy.
The strategy consists of fading the breakout. The catalyst is micro volume moementum, and simple S/R. I backtested the last few days and having decent result. The problem is I can't measure the PT. I think I will use my dynamic stop losses and discretion profit taking. The main focus is making money, not scoring home run.
Hope you like this post :)
De’, all any system is good for is a slight edge and I mean very slight edge in making decisions, to buy, sell, or do nothing… doing nothing is underappreciated. If your edge produces more heads more often than tails, stay true and consistent to your method as possible until it become habitual, a part of who you are and how you see the market and interpret risk and reward.
ReplyDeleteIn-short, it’s not so much the system, is how consistent we are at using the system/edge. Good trading.
Yes Duane,
ReplyDeleteI felt like hybrid-system trading. I mean pure mechanical's not good idea for me.
CM pattern with single direction is good system. Of course I can't blindly long then short in matter of seconds. It's suicide. Challenge to make system of the bias is challenging.
Oh, I made checklist sheet just as you tell. It should keep me in focus, not just eagerly reaping profit with Hope it works, I'll scanned it after Monday. Thanks for comin :)