Quote from Scientist:
OK Folks,
Since I don't want to be a spoilsport, and give DT-waw some samples on the way, I'll give you a brief peek into one of my trading systems.
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I don't trade daily systems (anymore), since I don't like overnight exposure. However, quite often I will take a position through overnight on the 10-and-15-min systems, since the signals tend to be strong.
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By the way, the "HIAP" stands for "Human Intelligence Analysis Project" and is about one of my theories of essentially predicting people's stupidity, but also the drivers of fear, greed, the cause of reversals and other distinctive market actions. "HIAP" has now become "AHIAP", with the extra A standing for "Advanced", since I just had a major behavioural research breakthrough, making the HIAP systems essentially obsolete. This particular system was in fact my 239th system of the HIAP category! A lot of systems got dumped in the process, though 
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The system is very adaptive- It trades both in trending as well as oscillating conditions, which makes it exceptional.
System Specs:
System Style: Both Reversal & Trend. Identifies Trend changes early / as they happen by utilizing volume accumulation percentage, trix momentum divergence, money flow, CCI, chaikin level peaks & divergences. Since the underlying systems are mainly oscillator-based, we can call it a reversal / oscillator system.
TimeFrame: 5min
Trades/Month: >100 / 4-5 per day
Backtest Hitrate: 84% (5 weeks)
Current Fwdtest / Actual trade Hitrate: 71% (12 days / 43 trades)
Backtest annualized % return: 2,630%
Forward Test ann.% return so far: 1,205%
Annualized returns calculated on margin of $5,000 per contract
The secret to the success of the system is not the high hitrate, but the small adaptive (initial) stop-loss regime.
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Basically, it is a reversing signal system that has you in either a short or long pos at all times. However, the advanced money management parameters are what causes more than 70% of the performance returns of this system. Not only is it reversal-based,
but it also trails every winning trade with painstakingly attuned fibonacci-based trailing stops, most suitable for this particular market, plus it has target profit stops to lock in and close exceptionally quick moves / profitable trades! This is what makes all the difference. The system has both adaptive (ATR-based) trailing fib stops and profit targets, as soon as a trade is entered! In fact, the money management models, which have been painstakingly attuned to this particular futures contract, increase the %return of this system by the factor 6.5! Meaning, the system would yield less than 200% p.a.
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Only if the system considers the gain worthwhile despite the 1pt initial setback, will it consider entry. ...
You may have wondered here, thinking all I do is trading discretionarily. This is not the case. I studied systems for years, and still do, next to my disc. trading. I run 10 systems n'sync during the day as a balance to my disc. trading. I hardly pay any attention to my trading systems, though. I tune them, yes, but essentially, when a signal fires, I look at it, execute with, whatever, a few contracts, and then go back to my 'real' trading.
...Trading discretionarily can outperform this by far. The system is still based on singular kinds of setups, so it can never possibly exploit all forms of market opportunities, the way a discretionary trader easily can.
Trading mechanically is so inferior - You can't consider market action, bias, T&S, depth - The potential of discretionary trading is limitless. ...at this stage I start to believe that a continuous, comprehensive, fractal discretionary approach can achieve this, although I'm still faaaar away from Jack/bubba7's performance...
~Scientist
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Scientist;
Excellant post & it was in understandable english also.
I laughed when you lol at ''lagging moving averages'', however no offence intended. Agree they lag & NOT referring to ma cross.
Scientist good chart & equity curve, again in understandable english. Gracias means thank you in spanish.
My remarks are ''limited'' to highly liquid stocks and related markets.
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Natalie, I believe more traders could be Soros size;
but like mount everest, i wouldnt want to pay the price.
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Rich Dennis, with Solomon like discretion, planned and worked the fact that he proved there is an insurance premium in holding overnite.
- but if practice really makes perfect it could be argued analysts aren't good traders because they're too busy analysing instead of trading.