Wednesday

FDAX

Gap: no
Gap closed during IB: x
Position price at 9:30: inside prior day HL
IB direction: short

Yesterday HL of 261 pts and OC of -198. Today opened on lower side of yesterday’s range.
Could use all filters, but the results are not good enough, the SumR is too low for a trade.

Thursday

FDAX

Gap: yes up 66 pts
Gap closed during IB: yes
Position price at 9:30: inside prior day HL , few pts from prior day high
IB direction: short

DAX short (paper) trade
Entry 9:30
Exit 13:00
SL 49 pts
Result .. pts

Historical results with this setup: See snapshot

Let’s see



(SumR translates to a relative (to current FDAX price) result of X points per trade
(Relative trade result = trade result in pts / 9am open price * 10000, and the SumR is the sum of the relative trade results))

Yesterday SL was hit pretty quick: -49 result


Friday

FDAX

Gap: no
Gap closed during IB: x
Position price at 9:30: inside prior day HL
IB direction: long

No good stats today for a trade.
Have a good weekend

Monday

FDAX

Gap: no
Gap closed during IB: x
Position price at 9:30: inside prior day HL
IB direction: short/flat

The stats looking good for a short trade.

DAX short (paper) trade
Entry 11:00
Exit 11:30
SL 31 pts
Result -28 pts loss

Historical results with this setup: See snapshot

Let’s see



(SumR translates to a relative (to current FDAX price) result of X points per trade
(Relative trade result = trade result in pts / 9am open price * 10000, and the SumR is the sum of the relative trade results))

Conclusion

I backtested March, April and May. The results are not good enough to continue my system in this format.
March -85 pts loss with 27.3% winrate
April 87 pts profit with 56.3% winrate
May 19 pts profit with 53.8% winrate
In June & July -136 pts loss with 33.3% winrate

There are many adjustments that could be made to this system, but I'm afraid the outcome is random.
The backtesting is very manual and time consuming.

I'm going to park it for now. Maybe to be continued in a different way at some point.

I am currently looking into price action (Frank Bunn's Udemy course).
If there is anything to show, I'll start a new journal.

And I'll be looking into Market Chat to see what that can do for me.

Let's see

Thanks all
Deetee

Deetee 

Wednesday FDAX Gap: no Gap closed during IB: x Position price at 9:30: inside prior day HL IB direction: short Yesterday HL of 261 pts and OC of -198. Today opened on lower side of yesterday’s range. Could use all filters, but the results are not good enough, the SumR is too low for a trade.

Have you use the Pivot Points , thats where it stop most of the time ?

rene6985 

Have you use the Pivot Points , thats where it stop most of the time ?

Hi Rene,
This journal was based on statistics which didn't include pivot points.
Thank you,
Deetee