what is your result so far for 2018?

[lindq]

I trade 2 instruments. TQQQ and a VIX derivative. Use only daily data.
Mechanically traded, never hold overnight. No technical indicators. Only price action.
While these are backtested numbers, my statistics are very similar over the same time periods.
I post this information to help new and struggling traders to appreciate that you do not need extensive and expensive trading packages and intraday data to succeed. Five years ago I dumped intraday data and auto-trading, after spending 10 years in the five-minute trenches. Best decision I ever made. Keep it simple. It can be done.

Since 1/1/2018
Avg Profit/Trade $2,005.23 Avg Position Size $98,111.97
Avg % Gain/Trade 2.044%
Gross profit $157,482.61 Maximum Drawdown $3,038.79
Commissions $3,080.00 Average Drawdown $637.13
Net Profit $154,402.61 Ratio Avg Win/Avg Loss 2.11
Total # Of Trades 77 Percent Profitable 66%
Winning Trades 51 Losing Trades 26
Largest Winning Trade $22,730.01 Largest Losing Trade $3,038.79
Average Winning Trade $3,989.44 Average Losing Trade $1,886.89
Max Consec. Winners 7 Max Consec. Losers 3
Avg # Bars In Winners 0 Avg # Bars In Losers 0

Past Year
Avg Profit/Trade $1,587.98 Avg Position Size $98,032.40
Avg % Gain/Trade 1.620%
Gross profit $188,845.55 Maximum Drawdown $3,038.79
Commissions $4,640.00 Average Drawdown $584.75
Net Profit $184,205.55 Ratio Avg Win/Avg Loss 1.81
Total # Of Trades 116 Percent Profitable 67%
Winning Trades 78 Losing Trades 38
Largest Winning Trade $22,730.01 Largest Losing Trade $3,038.79
Average Winning Trade $3,231.24 Average Losing Trade $1,785.04
Max Consec. Winners 7 Max Consec. Losers 3
Avg # Bars In Winners 0 Avg # Bars In Losers 0

Past 2 Years
Avg Profit/Trade $1,387.86 Avg Position Size $96,853.66
Avg % Gain/Trade 1.433%
Gross profit $296,993.84 Maximum Drawdown $3,038.79
Commissions $8,320.00 Average Drawdown $461.68
Net Profit $288,673.84 Ratio Avg Win/Avg Loss 1.59
Total # Of Trades 208 Percent Profitable 71%
Winning Trades 149 Losing Trades 59
Largest Winning Trade $22,730.01 Largest Losing Trade $3,038.79
Average Winning Trade $2,581.90 Average Losing Trade $1,627.63
Max Consec. Winners 10 Max Consec. Losers 3
Avg # Bars In Winners 0 Avg # Bars In Losers 0

 

[Gotcha]

I trade 2 instruments. TQQQ and a VIX derivative. Use only daily data.
Mechanically traded, never hold overnight. No technical indicators. Only price action.

How is it that you use only daily data but don't hold overnight? Do you just watch a daily bar as it forms in relation to the other daily bars and then get in somehow?

 

[lindq]

How is it that you use only daily data but don't hold overnight? Do you just watch a daily bar as it forms in relation to the other daily bars and then get in somehow?

I don't watch any bars. I don't trade based on chart action. I trade based only on what today's open is in relation to recent prices. I set a stop, and exit at the close. While I like charts (an old habit), they aren't required for me to trade, and are often even detrimental. Charts, IMHO, are a result of our need to impose a visual order on random data. But it is the data itself, not the chart, that makes or breaks a trader.

 

[qxr1011]

i'm gonna do a little survey

the only survey that matters for the trader is of his own account...

if you make money even $1, pat yourself on the back.

half of the america (if not all) patting themselves in the back

but none of them will become the successful traders

 

[vincentnyc]

the only survey that matters for the trader is of his own account...



half of the america (if not all) patting themselves in the back

but none of them will become the successful traders

half of america don't trade. they do "buy and hold" investing. if you trade (day trade or short term swing trade) and make money after 1 year. you are a winner in my book.

 

[birdman]

I don't watch any bars. I don't trade based on chart action. I trade based only on what today's open is in relation to recent prices. I set a stop, and exit at the close.

Fascinating and insightful comments. Thank you for sharing!

 

[Illini Trader]

I don't watch any bars. I don't trade based on chart action. I trade based only on what today's open is in relation to recent prices. I set a stop, and exit at the close. While I like charts (an old habit), they aren't required for me to trade, and are often even detrimental. Charts, IMHO, are a result of our need to impose a visual order on random data. But it is the data itself, not the chart, that makes or breaks a trader.

Very Very Interesting!! You have gone where probably no ET person has ever gone before and that is sharing pretty precisely how you trade successfully. And you have done it in a way that does not compromise your own specific entries but still provides a method that others could experiment with and adapt to make it their own style. This emulates that illusive objective of ET of traders helping other traders. You have won my respect. Thank you for sharing this.

 

[syswizard]

Charts, IMHO, are a result of our need to impose a visual order on random data. But it is the data itself, not the chart, that makes or breaks a trader.

Why can't this technique be automated ?
I see the potential for trading it in multiple markets.

 

[GotherL]

$500 to $78,915 with $24,370 commission costs. In simulator.

Doing around 600 trades from the period from May to July 2018. Not the best months.

Live trading lost about $400 at the beginning of August. Next deposit will be in Sept hopefully that'll be a better month for me.

 

[birdman]

I trade 2 instruments. .... Use only daily data. It can be done.

@lindq I'm trying a version of that for stocks. Do you target a certain % of ATR as an exit point, and if so what %?