Monday, July 19, 2010

Ideas for profit taking

You will forgive me for at times writing shit that may not make sense at all to you. I am developing a trading strategy and I am back-testing it incessantly.

So I will chicken scratch my thoughts on the strategy on this blog since this is my trading journal and I can do with it what I want...y'a hear?

OK...Profit taking idea:

Maybe let the trade ride until the trend is confirmed in the opposite direction by a new entry signal...unless the original trigger bar's stop is violated.

For now I am paper trading based on taking the trade off at any setup in the opposite direction...

This may be one way to refine the strategy and reduce chop.

Don't worry one day I will sell this strategy on the internets...and you all will get a discount.

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