From https://nexusfi.com/elite-group-trading-methods/2804-wizard-method-automated.html
This comes from is an entire thread devoted to this method.
The Wizard produced the following on a 1-year backtest for YM (4-tick MedianRenko):
$231K Gross Profit (almost $164K after commission assuming $5 rt)
close to 13,500 trades / 37 trades per day (hope to reduce it w filters to minimize choppy trades)
66.2% win rate
Trade Size: 1 contract/trade
Profit Target: 25
SL: 15
I believe the following filters will make this strategy a very profitable one when running live:
- minimize choppy signals and
- adjust the initial 15-tick SL to B/E when the trade starts working
Category The Elite Circle
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