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stocks
have "character" some work Long and some work short and some work both ways.
Same wrt rhythmic and other characteristics...imho there is no reason why we
should assume any characteristic to be permanent or common to a large
population.
When
designing a system I try to find similar performance for Long and Short,
this gives me more confidence that I won't go broke in a strong trend. Systems
that only work Long or Short make me nervous as I worry that they will stop
working abruptly. Sometimes, most of the time I should say... it
is necessary to adjust parameters individually for long and short. I try to
develop systems that give me thousands of trades (minute time frame) and
produce a nice smooth surfaces on the 3D charts. I never trust systems that give
me more than one significant hotspot.
wrt
indicator, I don't use any. I trade only very short term patterns - I am a
skeptic on the use of traditional indicators. Never got any to work well -
probably because I don't have the patience (or nerve) to sit through long trades
and through major DDs.
tips?
don't use any max loss stops, imho they kill systems. Use profit stops instead.
Design both Entries and exits individually, only rarely will an entry rule give
same performance as an exit rule. The exception to this may be high speed
automated reversal trading systems (50-100 trades a day) that are in the market
full time
jmo...
from a developer's viewpoint, I enjoy development more than trading
:-)
herman
I have some nice, well-tested long systems in
place. I was surprised
when testing my discretionary systems, to find that
none of my short
signals performed nearly as well as the long signals, in
the
optimization/backtest/monte carlo simulations.
Is this
common?
In addition, I am looking for some ideas around what indicators
to use
as the foundation for building an adequate short system. Any ideas?
I
did some searches on previous messages here, and did not find anything
of value. General rules of thumb, and bits of experiential wisdom, are
also welcome -- as they apply to short systems.
Thanks in
advance,
Brian
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