The Go Long at 10 am Strategy

As I've been saying for about 5 years, go long on dips and go long on breakouts.
We are gifted with markets such as US indicies where you KNOW where they are going over time (unlike currencies etc) so take advantage of it. Make lots of money and enjoy life
 
A quick look back at the week behind, going long blindly at 10 am and exiting at the close 4 pm (using ES):

Mo: -3 pts
Tu: 20 pts
We: -8 pts
Th: 10 pts
Fr: -3 pts
---------------
16 pts

That is pretty impressive compared to the brainlessness of the strategy not to mention the giant sell off on Friday. I wanted to post on Wednesday that it shouldn't be used because of the expected consolidation* after the Tuesday rally, but I won't count that because it wasn't posted...

* Had the sideways day started out in the red, the strategy would have been OK to use. But on Tuesday we were in the green at the open.
 
Pekelo said:
Just like this bull market's rally melt up isn't sustainable. In the maintime, Monday's slight loss of 2 points was reimbursed by Tuesday's 20 points gain.
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I really dont know what you are talking about. Even HFT and algorythmic trade strategies which are rigoursly backtested need updating, tweeking and new sample sets. So a constant 10am strategy on any market is simply not possible.
 
timdug said:
constant 10am strategy on any market is simply not possible.
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Who said anything about constant? We are living in the here and now and party like 1999. Until the good times are over, this system is gold, Jerry, I am telling you, gold!
 
Pekelo said:
A quick look back at the week behind, going long blindly at 10 am and exiting at the close 4 pm (using ES):

Mo: -3 pts
Tu: 20 pts
We: -8 pts
Th: 10 pts
Fr: -3 pts
---------------
16 pts

That is pretty impressive compared to the brainlessness of the strategy not to mention the giant sell off on Friday. I wanted to post on Wednesday that it shouldn't be used because of the expected consolidation* after the Tuesday rally, but I won't count that because it wasn't posted...

* Had the sideways day started out in the red, the strategy would have been OK to use. But on Tuesday we were in the green at the open.
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Wow, with stats this solid I should take 1000 lots next week.........
 
Pekelo said:
I think this is going to stay a viable strategy until the market finally rolls over, what could be still months away. Today if one bought just before 10 am at the dip, we are up 4 points.
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For giggles, why not try going long at 6PM ET and exiting at 4PM next calendar day? Wouldn't be surprised if that works even better.
 
Pekelo said:
Who said anything about constant? We are living in the here and now and party like 1999. Until the good times are over, this system is gold, Jerry, I am telling you, gold!
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It's not GOLD, that is obsolete. It is BITCOIN :)
 
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