Posted by James_Roe on 21st of Feb 2023 at 04:48 pm
There is a lower profitability version of STrap taking a long on
ES at the close in 15 minutes, if Matt were here he might take a
half position.
I've included the stats for you guys if you're interested in
taking the trade, and Matt will provide updates on it, but we're
not taking it for the website.
Posted by James_Roe on 21st of Feb 2023 at 07:09 pm
After talking to Matt, he wants to take half a position on ES,
so we're now long an initial entry with 1 contract at 4005.75, and
will be tracking it as a website trade.
Posted by mastermind on 21st of Feb 2023 at 08:13 pm
According to the spreadsheet, it was closed 10 days before it
was opened, but I think that was a matter of entering the wrong
month for the exit. Nevertheless, I still have some confusion about
whether the official numbers are based on the actual system exit or
Matt's discretionary exit.
James, a related question is, Is there any way to know whether a
prospective trade going to be following the trend or counter-trend
based on your trend indicator(s) used by the system? For example,
today's trade is still along the bullish trend. If the trend
changes tomorrow, there is a high chance that the new trend my last
for some time, so reversing the position or at least hedging might
be a profitable strategy. When a new trend is close to be
exhausted, the hedge is removed for a profit, and the initial trade
is still in play.
Posted by James_Roe on 21st of Feb 2023 at 05:40 pm
All of the trades are reversion to mean trades except for the
breakout long, which means that the vast majority are counter trend
trades. The only really trend following stuff on the website is the
KISS section, breakout longs, and updates from the newsletters.
Steve and Matt do a pretty good job talking about where they think
the market is trending at the moment.
We've done a lot to reduce drawdown on the systems over the
last 3 years to make them less painful, but they are still going to
be buying when the market is selling, and selling when the market
is buying.
James, I am a bit unclear on this difference. My own definition
of trending means that DMI indicator is above 25. The distinction
between impulsive and corrective in EW speak is related but not
exactly pertinent, as we have seen last month and this month (the
price could be trending and still be corrective). The price above
resistance or below support like on Friday or today is suggestive
but not indicative either if the ATR is small. Any comments?
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There is a lower profitability
systems update
Posted by James_Roe on 21st of Feb 2023 at 04:48 pm
There is a lower profitability version of STrap taking a long on ES at the close in 15 minutes, if Matt were here he might take a half position.
I've included the stats for you guys if you're interested in taking the trade, and Matt will provide updates on it, but we're not taking it for the website.
After talking to Matt, he
Posted by James_Roe on 21st of Feb 2023 at 07:09 pm
After talking to Matt, he wants to take half a position on ES, so we're now long an initial entry with 1 contract at 4005.75, and will be tracking it as a website trade.
Hello James - Is the
Posted by kattap on 21st of Feb 2023 at 07:47 pm
Hello James - Is the DVDS position closed? Please let us know - ES system
According to the spreadsheet, it
Posted by mastermind on 21st of Feb 2023 at 08:13 pm
According to the spreadsheet, it was closed 10 days before it was opened, but I think that was a matter of entering the wrong month for the exit. Nevertheless, I still have some confusion about whether the official numbers are based on the actual system exit or Matt's discretionary exit.
Evening James - I think
Posted by z0ned on 21st of Feb 2023 at 07:45 pm
Evening James - I think you may have meant to type MES (not ES).
The trades are triggered off
Posted by James_Roe on 21st of Feb 2023 at 08:27 pm
The trades are triggered off ES, but yeah we trade MES.
James, a related question is,
Posted by junkie on 21st of Feb 2023 at 05:20 pm
James, a related question is, Is there any way to know whether a prospective trade going to be following the trend or counter-trend based on your trend indicator(s) used by the system? For example, today's trade is still along the bullish trend. If the trend changes tomorrow, there is a high chance that the new trend my last for some time, so reversing the position or at least hedging might be a profitable strategy. When a new trend is close to be exhausted, the hedge is removed for a profit, and the initial trade is still in play.
All of the trades are
Posted by James_Roe on 21st of Feb 2023 at 05:40 pm
All of the trades are reversion to mean trades except for the breakout long, which means that the vast majority are counter trend trades. The only really trend following stuff on the website is the KISS section, breakout longs, and updates from the newsletters. Steve and Matt do a pretty good job talking about where they think the market is trending at the moment.
We've done a lot to reduce drawdown on the systems over the last 3 years to make them less painful, but they are still going to be buying when the market is selling, and selling when the market is buying.
James, I am a bit
Posted by junkie on 21st of Feb 2023 at 06:00 pm
James, I am a bit unclear on this difference. My own definition of trending means that DMI indicator is above 25. The distinction between impulsive and corrective in EW speak is related but not exactly pertinent, as we have seen last month and this month (the price could be trending and still be corrective). The price above resistance or below support like on Friday or today is suggestive but not indicative either if the ATR is small. Any comments?