2 Bar Charlie Day Trade System ("LIVE DEMO")

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...underneath all the heat here lies, I think, the question for the rigid amongst us whether this system can be codified and backtested for confidence, or whether it is totally discretional (and hence disreputable, haha). IMO, what Rex did was eminently codable based on estimates at the open of S and R, supplemented by not excessively complex trend creation rules. Well done IMO regardless of what you might think of Rex. The market bestows favor on both the arrogant and the humble, so long as they are both right.
 
withen the next 15 minutes it is very likely that the NQ will attempt another Breakout.


I will take a few questions now.
 
Quote from dbphoenix:



Where would you place your stop, balda? (and thanks)
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per T-REX stop loss at 1406 do not ask me why,
I am just trying to be fair to the system because at the end of the day T-REX's P&L will be green when systems P&L might not.
 
Quote from T-REX:




I really believe that you can learn something. That is why I have taken time out of my day. I want to help people. Especially those who just cant seem to make it work for them.
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T-REX

thanks a lot for trying to help. lets see if I will learn something. till now the long looks good.

thanks and all the best
 
Quote from balda:



per T-REX stop loss at 1406 do not ask me why,
I am just trying to be fair to the system because at the end of the day T-REX's P&L will be green when systems P&L might not.
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That's the way it usually works in these conditions. But at least what you've provided can be tested. Thanks again.
 
Quote from T-REX:
at this point you would either place you Buy @ 1414.50 or wait until 10:30am EST to see how the NQ is shaping up on the day.
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Quick question - are you applying any intraday support/resistance levels with this method?

I'm looking at my chart (see attached snapshot to see what I'm referring to) and it's showing a resistance level at 1415.47 and a support cluster at 1406-1407.40

Not sure you'd want to risk placing a buy at 1414.50 - only one point from the projected resistance (which it turns out was exactly where that little rally off support stalled at about 10:17am).

Good luck with your demo - this is tough forum for it.
 

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