I've been sim-trading The Wizard's set-up for almost 3 months. Great signals when the indicators align, eg all blue (for long) and all red (for short).
With The Wizard's endorsement, I started creating a simple strategy mostly based on The Wizard's set-up + additional indicators like d9 and Sharkfin for earlier entry and exit.
The Wizard produced the following on a 1-year backtest for YM (4-tick MedianRenko):
$231K Gross Profit (almost $164K after commission assuming $5 rt)
close to 13,500 trades / 37 trades per day (hope to reduce it w filters to minimize choppy trades)
66.2% win rate
Trade Size: 1 contract/trade
Profit Target: 25
SL: 15
I believe the following filters will make this strategy a very profitable one when running live:
- minimize choppy signals and
- adjust the initial 15-tick SL to B/E when the trade starts working
I am a newbie to strategy development. My effort in adding a B/E filter does not trigger yet. Hoping this thread may interest some members to work with me in making this strategy ROCK! Thank you!