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Wanted to offer the following in the hope that others might review with a constructive eye and, perhaps, conduct additonal backtesting. My technical abilities are limited, so I backtest manually.

The results for the 28 trading days between Apr 2 - May 12 on NQ June show 19 trades. 13 W 164 points 5L 29.75 points 1 BE. Gross of 134.25 points - $2685 before commission

Methodology

Chart set up: On a day session chart plot the 5 period average true range. Also plot a 5 period simple moving average of both the close and the open. Longs are taken only when the 5 period SMA of the close is above the 5 period SMA of the open. Shorts only when below.

Entries and Exits: If taking longs, add 50% of yesterday's ATR to today's open. This is the entry. Exits are either - a stop order at today's open, limit order at 50% of yesterday's ATR added to today's open, or MOC. For shorts simply reverse.

Having a target that is twice the stop really helped when I manually tested this for the same period as above on the 10 yr note (ZN June). 18 trades were taken. 8 W 83.5 points 10 L 47.5 points Gross of 36.5 points - $1140.62 before commission.

Thanks in advance for your constructive ideas for improvement and any additional backtesting you might undertake.



edit - 25% atr changed to 50%
You're welcome Ninja.
Seems like every time I stumble onto something it works for a while. Then it turns to "&^%$&(^%**&". LOL Hoping that's not the case here.
Here's how things started out today for NQ and ES.


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Here's how the 3 trades from my previous posts worked out.



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Here are the entry points today for NQ and ES.


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No trades today as neither of the preceding triggered.
Based on current ATR and today's open would go long on buy stop @ 121-285.Stop 121-230 and target of
122-075. Let's see what happens.
Earlirt post was for ZN june. For NQ June sell stop @ 1345. Stop 1354. Target 1327. On ES June sell stop @ 884.25. Stop 889.25. Target 874.25.
Correction ES target 884.25
874.25...LOL fat fingers this morning.
ES was the only one that triggered. Target not hit. Exited at 4PM for +1.75 .
Today's setups: ZN June will go Long on Buy Stop of 121-065. Stop 121-210 and Traget of 122-055.
For NQ June will go Long on Buy Stop of Open + 8 points. Stop at Open. Target Open +16. ES short on Sell Stop of Open -5 points. Stop at Open. Target is Open -10.
quote:
Originally posted by PAUL9

that's OK daytrading, I just have to make a few more posts. But when I saw that RUSS had 9 I wondered, how many do you need?



hi,
you please check if my levels are correct?

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