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I have been using channel breakout systems with 60 minute bars to trade
some selected stocks in the Indian Stock Markets.
I have modified the system so that entries are made on only two days of
the week, Thursday and friday, and will carry over positions over the
weekend. Exits can be made on any day. This improves the performance of
my systems.
I have read that trend following systems get whipsawed a lot. I tried to
reduce these whipsaws by restricting the days on which I trade.
Therefore, I must get a channel breakout / breakdown on Thursday before
I would get a new trade. Quite often, I go without a trade for even
three weeks in a particular stock. But since I trade 7 stocks some
trades are always available. When the stock markets are moving sideways,
I tend to get whipsawed.
My problem is I had to optimise the channel length for each stock
seperately. This was done on about 10 months of 60 minute data. Money
Management Stops and Breakeven stops are used with different values for
different stocks after optimisation.
Best Regards,
Sudarshan Sukhani
New Delhi, INDIA
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