My strategy has a problem of buying on a downtrend and selling on an uptrend. It generally does a good job of picking the reversal points, but on a given move, half of my position (based on entry price) may be losing, and the other half winning. So, basically, I am entering/exiting too early, and missing half of the move. Where I have gotten lucky is that by doing this, it changes the average price of my position, which generally lessens some of the losses.
I've been considering Keltner/Bollinger Bands, but it seems like when they indicate an entry/exit point is later than my current system does. So, if I wait until, say, I get a breakout from the Keltner channel, I'm past the point where my current strategy would indicate a trade. I could tighten up the channel, but then I'm subject to higher possibility of whipshaw trades.
I am just looking for some direction of where to go now; basically looking for ways to determine the current trend.
I've been considering Keltner/Bollinger Bands, but it seems like when they indicate an entry/exit point is later than my current system does. So, if I wait until, say, I get a breakout from the Keltner channel, I'm past the point where my current strategy would indicate a trade. I could tighten up the channel, but then I'm subject to higher possibility of whipshaw trades.
I am just looking for some direction of where to go now; basically looking for ways to determine the current trend.