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so this strategy has only 1 requirement..."trend change" with price above yesterday's low.
this is not a solid strategy over time. Sure it worked here but it's not definitive enough.
...and your exit. You arbitrarily exited at 1.5 points. Why? just because? Was your risk .75? I've never traded a strategy below 2:1 reward. I don't use arbitrary p/l numbers. My requirements for my strategy with the highest expectancy right now contain 6 variables for entry and my exit contains 4. I'm not telling you to be exactly like me but these are things to think about. I've been at it for 10 years.
As to how to display and discuss your trades.... It's usually most helpful to just make some comment on each, with reasons, what happened, etc. Plus anything you think will help you later. There are lots of other journals you can take a look at to see what others have done.
As to looking at other journals, I'm not sure what permissions you need. Most active posters are Elite members, and some have their journals in the Elite section, so that may be it. Even if it's not, there is a lot to be said for being an Elite member. There is a huge amount of content available to you then.
Elite membership is a one-time lifetime fee of $100. A very large part of the forum is only available in the Elite section, and most people feel it's very worthwhile.
There's a link somewhere on the forum main page to go Elite, if you decide you want to. Up to you, of course.
Thank you for your input. Brooks advises to have at least two signals from the following list:
o Reversal bar
o Good signal bar pattern
o EMA pullback in a trend, especially if two legged
o Breakout Pullback
o Breakout Test
o High/ Low 2 or 4 (there must have been a prior trendline break if fading a strong trend)
o Failure of anything: Prior High or Low, flag breakout, reversal from an overshoot of a trendline or a trend channel line, 5 tick failure
In that case, I saw at least two, reversal bar and breakout test. If you can point me to more definitive strategies, I'd be delighted.
As for an exit, Brooks promotes the idea of trading one point daily over a period of a year. I can see how it works. I usually exit 50-60%, once one point is reached so I profitable. Then, I let the ATM in NT8 to chase the rest.
If I can make one small step from this simplistic strategy to "the highest expectancy right now contain 6 variables for entry and my exit contains 4", that would be wonderful.
You're on the right track by starting small. You have to start with 1 element. I believe in coding your strategies and back testing them. even though past results are not indicative of future results, they give you an idea of what you might be able to take from the market. My first point of attack would be to define the strat either trend or range. Right now, my best strategies are trend. So if you're me, you need to start out with 1 to 2 elements that you believe define trend for you. simple moving averages are a good place to start. once you have your trend defined, you can add other elements that fine tune your strategy to give you the highest expectancy. I will not only run my strat through ES but also 5-6 other futures instruments to avoid curve fitting. If I'm getting similar r/r and expectancies across a handful of futures instruments I feel confident the strategy has a good chance of performing well moving forward. Most of my strats are 50-60% win, 2:1 - 3:1 reward and an expectancy of .75 to 1.25.
I have noticed the advantages of being a part of the elite on this forum. The elite membership is on my prize list. Once I make enough money of trading, that would be something to invest into for further improvement.
Appreciate your assurance. How do you code your strategies?
Brooks teaches to trade both a trend and trading range. The definition of a trend seems easy: above MA is uptrend, below, downtrend. Unless I am missing something.
What 5-6 futures that are similar in nature to /ES?
I have mine coded in thinkorswim but you can use ninja just the same. I've found their C# language more difficult than thinkscript though.
I use two different MAs for trend. I use volume profile for range but I can't code strats using volume profile in thinkorswim so I trade that based on what I see. I have certain volume patterns that i look for using volume profile. range, breakout, breakdown patterns.
The other instruments are not necessarily similar in nature, however all trading instruments are simply reflections of human emotion. I use 6E, 6J, BTC, LBS, GC/PA, CL, ZW
