That is the problem of not being able to add size, like OC suggested, I know it's not possible in Jasper's case as his max is 1 lot. I tested a similar method of reversing every time there is a failure swing (RSI) on a 5 min chart. After 1 week the method was net positive. The worst days were trend days, system goes green during nice range days. There was no need to add size after a loss as RSI is different to a breakout method. IMO without having to increase size this system is very much dependant on trends/range expansion.
Jasper's Last Stand
- Thread starter jasper6
- Start date
What is the time frame of your chart? Hourly? I cannot tell.
To show you what I meant from my comments, I use 25 tick chart and the 5 minute chart for the short-term and longer-term perspective.
To show you what I meant from my comments, I use 25 tick chart and the 5 minute chart for the short-term and longer-term perspective.
ok, well I do not use constant range but use 25 tick bars.
I also use:
Moving Averages
MACD
Pivot Points
BB Bands
(not all on the same chart lol, I look at 3 different ER2 charts at the same time).
Start running a 1 or 5-minute chart along side to see if the longer-term (relatively speaking) keeps you out of blah chop and lets you jump in on the trend and then your volatility stop can keep you in.
I also use:
Moving Averages
MACD
Pivot Points
BB Bands
(not all on the same chart lol, I look at 3 different ER2 charts at the same time).
Start running a 1 or 5-minute chart along side to see if the longer-term (relatively speaking) keeps you out of blah chop and lets you jump in on the trend and then your volatility stop can keep you in.
Closed out the short for +4.8 points (Sold 801.4, Bought 796.6). That was breakeven for the day. Would have been a good day without the "happy fingers" first thing in the morning.
May be done for the day while I digest the day. Had 7 trades and that much trading usually means a bad day.
May be done for the day while I digest the day. Had 7 trades and that much trading usually means a bad day.
In hindsight, I gave up way to early on today. It's one of the psychological problems I fight. Getting behind and then catching up. Breathing a sigh of relief that I got back to breakeven.
I think I am going to adjust the VS on the R60 chart to (15, 4). This should give 2.4 points leeway to the noise. I also need to have more patience with my winners and let them run. I have too often been afraid the market will reverse and erase my winnings. This has led to taking it off the table while it is there.
This system is designed for intraday position trading. Sometimes it's hard to move beyond the scalping mindset.
Here's today's chart set with the new parameters. I also have up a R30 chart with VS (15, 2) and a R120 chart with VS (15, 4) to see how they do.
I think I am going to adjust the VS on the R60 chart to (15, 4). This should give 2.4 points leeway to the noise. I also need to have more patience with my winners and let them run. I have too often been afraid the market will reverse and erase my winnings. This has led to taking it off the table while it is there.
This system is designed for intraday position trading. Sometimes it's hard to move beyond the scalping mindset.
Here's today's chart set with the new parameters. I also have up a R30 chart with VS (15, 2) and a R120 chart with VS (15, 4) to see how they do.
I believe the only way to achieve positive results with a system like you are using is to not be discouraged by consecutive losses, but just trust your method. What was the absolute worst consecutive historical loss using this method? If you know what is the worst that can happen, then that alone can reduce or perhaps eliminate fear.