I just looked , TAMs up $537 net in 5 days for 1 car each day , not bad for some unusual variables and no risk management . 4 winners 1 loser so far but after the new year the sample will be complete and i'll figure out the whole breakdown . I got another idea for the new year to test here with some more traditional variables , trailing stops , bells and whistles and some of those high tech indicators .
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I know this is an exercise for many of you in random trades, etc. I just want to make sure less experienced traders don't buy in to this, because without money management it will never succeed.
I've backtested many strategies that take one trade a day and hold until end of session, I've tried random entries as well as ORB's, gap closes, fades, etc etc etc ---- they all work a lot of the time, but you're lose your ass during the times they don't work if you don't have a well thought out money management plan.
Part of money management is risk management, so knowing when there is more or less risk is important, and position sizing accordingly is important.
Anyway, I don't mean to ruin the experiment -- I just know there are many novice traders here that might actually try to follow, and they don't realize this strategy could print 50+ winners in a row and still lose HUGE for the year. On a strategy like this that takes one trade a day, you really need multiple years of testing to know how to manage it.
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Last edited by Big Mike; November 25th, 2009 at 05:49 PM.
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Yes ! this is an experiment and meant for FUN ONLY !
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