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My 6E trading strategy

  #878 (permalink)

Chicago IL
Trading Experience: Intermediate
Platform: Ninja, MT4,TOS, SC, Matlab
Broker/Data: CQG, AMP, MB, DTN
Favorite Futures: E/U, G/U
forrestang's Avatar
Posts: 1,039 since Jun 2010
Thanks: 227 given, 697 received

Picking an exit strategy.

Today's pa wasn't all that conducive to big profits imo. But I think the chop areas and trend areas where clearly defined by the rules today.

Since I've been trading this method, I've come up with 2 mechanical ways to exit my trade. Both of these methods have in common the goal to get my stop to BE+1 ASAP using the SuperTrend. Once this happens, the management then changes for each of these.

Each method is different. Method 1 is faster, and is less likely to achieve the full target, but will also have more trades with profit somewhere between BE+1 and 21 tics. Method 2 is a bit slower, and is more likely to have more BE+1, but will achieve the full profit target more often.

I've been having some pretty good days, but I have been cheating myself by mixing the two at random. I went back and checked the last 2 weeks of trading, and I would have been better served by simply picking Method 1 or Method 2 (I have these in another sheet I am still putting together). What is happening is that I am more or less averaging in the worst results of the two exit methods into my trades.

Here is how yesterday and today would have played out. The column titled "Today" and "Yesterday" are the actual trades taken. And then Method 1 and Method 2.

Not that the last 2 weeks is a large enough sample size to definitively say one way or the other, but I intend to track both of the management strategies over the coming weeks. There were some other days that were more obvious than these as well.

Below is the comparison of today and yesterday, and a ss of today's trades for me.

Attached Thumbnails
My 6E trading strategy-prime2011-07-12_140730.jpg   My 6E trading strategy-prime2011-07-12_133515.jpg  

Last edited by forrestang; July 12th, 2011 at 03:34 PM.
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