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I just looked , TAMs up $537 net in 5 days for 1 car each day , not bad for some unusual variables and no risk management . 4 winners 1 loser so far but after the new year the sample will be complete and i'll figure out the whole breakdown . I got another idea for the new year to test here with some more traditional variables , trailing stops , bells and whistles and some of those high tech indicators .
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I know this is an exercise for many of you in random trades, etc. I just want to make sure less experienced traders don't buy in to this, because without money management it will never succeed.
I've backtested many strategies that take one trade a day and hold until end of session, I've tried random entries as well as ORB's, gap closes, fades, etc etc etc ---- they all work a lot of the time, but you're lose your ass during the times they don't work if you don't have a well thought out money management plan.
Part of money management is risk management, so knowing when there is more or less risk is important, and position sizing accordingly is important.
Anyway, I don't mean to ruin the experiment -- I just know there are many novice traders here that might actually try to follow, and they don't realize this strategy could print 50+ winners in a row and still lose HUGE for the year. On a strategy like this that takes one trade a day, you really need multiple years of testing to know how to manage it.
Yes ! this is an experiment and meant for FUN ONLY !
The risk of loss trading commodities, futures, Forex, or equities can be substantial. Commodity, futures, Forex and equities trading (and all trading in general) has large potential risks, in addition to any potential rewards. You must be aware of the risks and be willing to accept them in order to invest in the futures, commodities, Forex or equities markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell commodity, futures, Forex, options or equity interests. The use or placement of any stop-loss or stop-limit orders may not limit your losses and you could lose more than your intended amount of money at risk. Past Performance of any trading system or methodology is not indicative of future results. Any and all systems, methodology, or pattern discussed within or in any of the product materials are for illustrative purposes only and are not to be construed as specific advisory recommendations. This material and any opinions are for education purposes only