appreciate your finger pointing. I take my time to think it through and share the thoughts related to an example based on your comment.
A Brief History of my Strategy Development
- Thread starter fairvalue
- Start date
appreciate your finger pointing. I take my time to think it through and share the thoughts related to an example based on your comment.
Thank you again. I took my time: Thoughts related were, that counter measures are necessary, if the inital trading setup doesnt work out.
Besides I am doing a manuel backtesting. I know that is prone to hindsight and thelike but relying on strict parameters - not to trick myself. This is a process and like I don't programm code today like I did 7 years before I know I wont do backtesting in the future like I do it know. But I feel this is a good way to start things and to work it through. Thoughts always welcome.
Having a closer look to backtest setups where setup DOENST work out ... and all writing down im my backtest journal.
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So I added a counter measure plan. Here comes a live paper trade (wooo), I would take.
- Complying with my set of Rules
- Added a Counter Strategy
- daily looks messy but weekly shows me, that is no trend but a range
- on the weekly i spot this as a support area
- daily: on the left I see some Hammers and candles with long wigs down. These represent to me possible resistance on the move up
- anyhow, price is cheap
- I would expect, this setup to fail in the first place, but to be successfull in a second attemp - let see =)
What still confuses me:
- that correction comes in waves of downturn (red) and upturn (green) moves (from the High in the chart of the Inverted Hammer).
- That downturn moves seem to loose momentum, but then suddently that immense red candle emerges
- Also a tiny Hammer is able to stop that downturn AND to close (or will, not yet and of trading) green.
- So who is in charge? Who controls and why? I figure that out and will come up with a explanation, that makes sense for me =)