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My normal stops are at 30 points - just to be out of noise.
If the situation gives a tight stop - that can be 8 or 15 points.
Such is the case when in the morning the signal is "thin".
Looking at my weekday statistic over the last 2 years - wednesday shorts taken (>90% of the time)
gave the highest payback
It was over 35% of all gains of the week.
There is a possibility to play this game ONLY on wednesday's but with a bit more risk.
For the UK spread betters there are many companies offering a bet on higher / lower price of an index
from entry to end of day.
Looking at that mentioned result - plus the wednesday short strategy one could only bet with higher
leverage on such a wednesday daily bet - and surely win:
this would reduce even more to the max. YES!! thanks boys and girl for the THANKS
And BTW...I think you'll get a VERY nice profit from today's trade...
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Going SHORT from 0930 to 1300 every Wed from 2009 with no stops would have netted you around minus 600 points (meaning losing!). All according to my quick knock up excel sheet anyways. 135 of the 260 trade days the Wed price was higher at 1300.
Quick Edit: - Although in 2012 and 2013 the SHORT play would have won you 200 points (all without stops etc)
The missing link.. Goes here:
You contribute 4 elite memberships to the new created futures.io (formerly BMT) Fund for Poor Traders (futures.io (formerly BMT) FfPT).
A poor trader has to proof to have busted the account once to get elite membership for free then.
In return you (the contributor) get a free ONE year profit eMail for your weekly wednesday trade.
This letter is of course sent only once. The easy to read proposition will state "GO SHORT!" 50x
May you quickly ask your excel sheet how entering on wednesday 09:00 short and holding til' EOD had brought 2009 to now? Just to see the spread bet wins...
Thanks for your help.