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Tiny bug in the first version: Misplaced two lines of code which resulted in the strategy not taking all of the available trades. After the fix, it performs even worse (not surprisingly).
If you insist the reason it's not profitable is due to the breakeven stop, I'll take a look.
Can you help answer these questions from other members on NexusFi?
I've been trading this manually for about two weeks with great results. Although I initially only wanted to script this so I'd get better entry...and still use discretion on exits, I think it could be tweaked to preform on its own. Who knows... It may be profitable also because I stop using this strategy once my profit target is hit. This may keep me out of losers, but also out of winners. All in all, I think it is reasonable to assume that being up $500 at some point most days is realistic. Many times, that happens within the first few hours of the session. There have been days I've traded till close and still fell short by a few hundred bucks.
Two weeks is not enough. Look at the graph if you want to know what I mean.
Implemented trailing stops. Entry same as last time, but I added colored dots show the trail, and blue dots to represent trailing stop. Still not profitable.
Works well when price trends, otherwise it gets chopped around.
I see what you mean though, not nearly enough upside to be worth the time. What if the entry was executed on the second signal in the same direction (long or short)? Would that identify a trend and eliminate being stopped out during choppy sideways channels?
I appreciate you taking a look at it! I guess it's back to watching charts all day... the only consistant profitable method for me over the last 7 years trading. I may get skin cancer from monitor radiation and was hoping this would prevent it... sigh
If you're willing to share your code, I'd love to play with it. Perhaps I can modify it when I learn a little more about programming.
I was out most of the day yesterday and just caught up with this thread. @grimReaper thank you for stepping in and doing all the work. You confirmed what my previous study of the donchian entries told me. As I see it, @FatDemon has more knowledge about his set up than he did before so your effort wasn't in vain. Also, it appears that @FatDemon now knows that in order for him to be profitable with this set up, he needs to apply the discretion as he's been doing even though he may die at an early age from radiation poisoning. I have one of these strategies as well. I'm doing very well applying discretion but it's pretty bad as an automated strat.
No @grimReaper, I haven't been using this strategy at all for the last few weeks. I've been sticking to price action lately. My hopes and dreams of fully automating my profession have been dashed... sigh... I will however revisit this approach later this month. I'll post the results when I resume.
@FatDemons, alright. Just wondering because I was rereading the thread and despite the very small sample, your initial results (post #7) looks nice. So maybe there was a difference between how my program executed the trades and how you executed the trades.
