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I would like to follow on my last note. I trade my system using 10 minute
bars. Since it has been so successful, I have decided to trade using daily
bars, and after backtesting (I have no numbers) the results look promising.
One downfall to position trading the NYFE and Coffee (both of which I do)
--the drawdowns are a bit high, but my model does attempt to minimize them.
I will begin posting my trades--starting today, so others can begin to see
how I perform and see if this really works. These are real trades.
Currently I am long long NYFE. I was long at 475, got out today at 483,
where I went short becuase of my ten minute modes, and got back in at 481.
My daytrading has nothing to do with this, but since I was long, I shorted
both models. The way this works is quite simple. I am long, my and I will
only go short if I go from neutral to short, never do I go long to short.
You will start to see what I mean. If I am long, and the market takes out
my stop, and continues down, I buy at the end of the day if it is lower than
my stop. I will try and post my trades everyday so all can follow along.
The essence of this model is to be in the market, patience is important.
NYFE---market is long
Trades---currently long at 481
Sstop at 478.30
COFFEE--market is neutral
Long at 163---1 lot
Sell Stop 2 at 158
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