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In the Thursday files, when I add filters on IBS and on ‘Up gap & closed’, the long trade looks OK (461 pts, 24 win/15 loss with SL25 11:00-12:30). The short trade has a bad win ratio.
When I add IB position at 9:30 inside prior day HiLo range the same long trade gives the best results, so:
DAX Long trade
Entry 11:00 @ 14524
Exit 12:30 @ 14527
SL 25 pts
Result 3 pts
Historical results with this setup:
429 pts (20 win/12 loss)
Today IB is almost flat. I check both IBS and IBL, and for both the short trade has better results.
I’m tempted to take the short trade (480 pts (11 win/8 loss) 9:30-12:30 SL30), but being a bit more selective on which trades to take, might help the result in this journal
may I ask what your understanding is from: The IB is almost flat". I know you are just using the first 30min of the cash-session (GFIs1 also uses just the first 30min), so your IB for today should be 61 points. What do you mean by almost flat?
Thanks for asking. With flat I mean that the open/close is almost flat.
The first selection I use is whether the IB open/close is green (=IB long=IBL) or red (=IB short=IBS). Today is was 2 points, so I tried to find a trade that worked (historically seen) for both IBL and IBS. Having some clear rules for which trades to take and which not, is on my to do list...
This week 62 points loss.
For now, I want to continue the journal with the same system. I only would like to define hard rules for entry, but not sure yet what to base this on. There were trades lost, while the odds looked good.
In the meanwhile I am looking into alternatives based on the same data.
In the Monday files, when I add filters on IBL, on ‘No gap’ and IB position at 9:30 above prior day HiLo range the short trade gives 705 pts (14 win/8 loss) 10:00-15:00 SL25.
Also after adding filters on IB HiLo range, the same trade gives almost the best results, so:
DAX Short trade
Entry 10:00 @ 14543
Exit 15:00 @ 14527
SL 25 pts
Result 16 pts
Historical results with this setup:
458 pts (8 win/4 loss)
In the Tuesday files, when I add filters on IBL, on ‘No gap’, IB position at 9:30 inside prior day HiLo range and on IB HiLo range doesn’t give great results, although the long trade doesn’t look bad.
After adding filters on prior day HiLo range, the win % for the long trade looks good, so:
DAX Long trade
Entry 10:30 @ 14549 (entry at the high )
Exit 14:30 @ 14573
SL 40 pts
Result 24 pts
Historical results with this setup:
612 pts (45 win/17 loss)
In the Wednesday files, when I add filters on IBL, on ‘No gap’, IB position at 9:30 inside prior day HiLo range and on IB HiLo range, the long trade looks best, 865 pts (53 win/36 loss) with SL50.
After adding filters on prior day HiLo range and the day before (filtering out the extreme higher values), the best results are for the long trade, 9:30-15:30 SL60 924 pts (34 win/19 loss). I don’t like the SL of 60, but what I like or don't like is not really part of this system, so:
DAX Long trade
Entry 9:30 @ 14561
Exit 15:30 @ 14582
SL 60 pts
Result 21 pts
Historical results with this setup:
924 pts (34 win/19 loss)
, now I know what you mean! Because the IB per se is High - Low, but now I know how you read it, thanks!
Have a good weekend
)