Tuesday, February 9, 2016

Finally, system hopped - Day Trading: Feb 9, Intraday

For most of this calendar year, I have been trading a single Trading System - the Range Compression Trading System, off the M15 charts. Finally, today, I decided to System Hop and try some new entry rules. With this new Trading System, I am trying to catch momentum - which is a dangerous business, as you can see in today's chart - buying tops and selling bottoms.

The other change that I have done this week is to shift to a completely mechanical trading system.

I have kept the Initial Stop and Trailing Stop rules very similar to that used with the Range Compression Trading System, though slightly tighter. I am trying to carry over the motto of the Range Compression Trading System into this new system.

The new system did not work well today, but my only consolation (if I may call it that), is that it fared better than how the Range Compression Trading System would have fared today. February has been a bad month for me. The last Short that was closed for +12 points ended a continuous losing streak of 9 trades, in which I lost 103 points before costs. Overall, in February, I have lost 156 points (pre-brokerage) in 21 trades.

Nifty M3 Candlestick Chart

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