Point Break Charts

[DerferMark]

Quote from Tyren:

Have you simulated with commisions and 1 tick slippage included ?
7 trades a day seems a lot to me...

Yes I used $6 per trade commission. But I don't use 1 tick slippage per trade - far too high. I base slippage estimate on where the next bar trades. Say I am to enter trade at close of Bar 0. I would put a limit order in AT that price. If next bar trades at least 1 tick lower than Bar 0 close, I know I will be filled with zero slippage. This happens nearly all the time. For the few times it doesn't, I would lose a few ticks getting filled at a worse price after moving my limit order (I did not factor this in).

7 trades a day is nothing for Intraday trading. Some scalping systems I have traded make three times that many...

 

[DerferMark]

Quote from JimmyJam:

If you look closely at the chart, your exit point was not too far off from where the market reversed and gave you a buy signal. So unless you are using a good trailing stop to lock-in profits you would have given back a not insubstantial amount of money.
That's one of the main reasons that I don't use the 3-Line Break charts anymore.

Thanks JJ. I'm still playing around with this but really like it so far. I'm not using trailing stops yet but will look into this. I'm finding that by trading 2 contracts and taking 1 off at 10-20 ticks profit, and letting the other ride until signal reverses seems to work well. But I've only looked at past 16 days.... My historical problem has been not letting winners run (like, arguably this morning) and letting the 2nd contract run until signal reversal helps me correct this.

 

[ER9]

i played around with them once. i remember them doing well on trending days but ripping me to shreds on sideways days. there were so many signals on those days and it would be a day of giving back more than what was made on the profitable days.

i could never figure out how to make them work long term. good luck to you. how are you managing on choppy days?

 

[DerferMark]

Quote from ER9:

i played around with them once. i remember them doing well on trending days but ripping me to shreds on sideways days. there were so many signals on those days and it would be a day of giving back more than what was made on the profitable days.
i could never figure out how to make them work long term. good luck to you. how are you managing on choppy days?

I just started some trading today with these charts and if you see page 1 of post I've only looked at past 16 days backtesting all signals. Would you consider any of these days "choppy"? The one bad day 11/16 was down -$1458 but there were 3 days equal or better than this on profit side. Anyone have any ideas on how to limit trading on choppy days?

Also I wondered if it might be better to enter trades based on a longer chart time (like 3 min.) and exit based on shorter (like 1 min.) -not using any other stops. Any thoughts? I would think this should smooth out the equity curve a little but may flatten it too much at same time? The homework never ends...

 

[ER9]

Quote from DerferMark:

I just started some trading today with these charts and if you see page 1 of post I've only looked at past 16 days backtesting all signals. Would you consider any of these days "choppy"? The one bad day 11/16 was down -$1458 but there were 3 days equal or better than this on profit side. Anyone have any ideas on how to limit trading on choppy days?

Also I wondered if it might be better to enter trades based on a longer chart time (like 3 min.) and exit based on shorter (like 1 min.) -not using any other stops. Any thoughts? I would think this should smooth out the equity curve a little but may flatten it too much at same time? The homework never ends...

looking quickly at my charts (5minute) i would say 11/22, 11/21, 11/20, 11/17, 11/16, 11/10

seems your doing half way decent on those days. wish i could help you on your questions but since your having better luck with point break than i ever did i dont think i would help you any. you seem to be doing good so far. maybe just leave things alone and see how you do longer term.