Monday, June 29, 2009

New system

I am in the process of trying to develop a system that will generate trading signals based on daily candles, as I am getting tired of trading intra-day and messing around with day to day noise. The system will generate trades based on daily candles meaning that it will enter into a position after 4:15 each day (not everyday). The system will focus on breadth, volume, and other internal info generated by the market. This model portfolio will only trade the ES (E-Mini S&P futures)and as a start will have a 1-1 R/R but with a high expectancy of return. The average period of holding will be around 24hr - 48hr or when the target is met. Every trade taken will have a min return of 9-10/point/stop on ES. If the target is not reached within the first 24hr the stop with be moved down to B/E, also if the order is not filled within 24 hr the trade becomes invalid. I will test the system for 2 months posting real time before I take real trades with it. Unfortunately this system can not be auto generated as it takes a great deal of info on the automatic side and human side to generate the trades. The system will start with an equity of 100k.
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