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.

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

Here are the entry points today for NQ and ES.

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:

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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?

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hi,
you please check if my levels are correct?