This post is more geared towards guys who sit around at home and trade automated strategies off of their cable modem or something, not people who are colocated.
On some days, my execution is decent even for a retail trader. Other days, I just miss outright and slippage goes up. But I'm never able to tell when a day will be good or bad until I'm well into trading. Do you guys have any clever techniques or tips for methods to detect when it's a good time for a retail trader to bow out (other than losing $) ?
Some ideas I have is to track my miss rate in real time, and if I'm missing too many trades, just shut down the model, take the loss, and walk away. Or another idea is to feed back the miss rates into the sizing algorithm so I take a lot less size . There's a lot of ideas, but I'm just asking who out there may have worked around this problem.
What I'm talking about is where an otherwise functional edge just starts missing its exits (not stop limit orders, but actual limit orders placed when it's time to escape.) My hit rate today is bad enough to where a working edge isn't -- because the winners no longer outsize the losers.