Friday, February 09, 2007

Daytrading the Futures......interesting week so far


Again and again, except for a couple days here and there it keeps on working and without a thousand dollar guru system.....The question, I had emailed to me was about the stop......should it be at the high of the first bar if the first bar was no greater then 20 ticks or should it be a tick above or even a couple. The first response was and still is.........Hey, sounds like someone is doing RESEARCH, and from that comes answers.

Answers that will confirm, answers to give you confidence, answers to allow you to become that trader who is always in control of their emotions and not just hitting the buy/sell tab and throwing it to the wind....and that is what this little blog is all about........pissing you off.....and then making you think....and sharing ideas.

3 comments:

adam cox said...

Anyone want to send me some of their tick data - re: analysis to share with bloggers. I don't have access to US tick data (being from NZ I specialise in FX and ASX200 (SPI) so I am not geared towards some of the US indices where liqudity lies in NZ night time). Email adamcox@ozemail.com.au.

Thanks

Ziggy Stardust said...

Dennis,

I tested the first bar trade in real time and found out it is a really hard trade to actually implement with real money in ER because it is impossible to predict the depth of the pullbacks without just going "stop-less". I just don't reccomend that in public. LOL.

And we ran two years of backtesting data on ER and found it had a 30% win rate with a drawdown to 0 at one point.

I am sure you can make it work when you put in a few nuances, but as a simple strategy it needs improvement.

GB has been talking about it in woodie's advanced room because it had 2 good weeks going there.

The ranges are tightening in ER and all the other popular index futures, so that a lot of traders are going in for really small time frames and settling for small profits.

I am looking for a new vehicle to trade, one with not so much "mileage".....maybe a commodity.

Anonymous said...

no wonder it's down to 30% if they are talking about it now. Advanced Room, come on, its a breakout trade and you don't need no damn CCI to trade that one.