I apologize for being gone all day! I did not take a single trade, there where no triggers which fit what I was looking for. I spent most of the day working on a new trade matrix utilizing non-linear price entries as compared to exponential position sizing. This allows you to use the same "lot" size for every entry. It is also more cost efficient and suitable for heavily extended individual stocks. I will start preliminary testing on this matrix, combined with playing securities (Huh? What? Me? Not ETFs???). The major ETFs offer stability, the securities offer higher percentage gains with less capital allocation for the entire trade. I can also implement hedging by building simultaneous short and long holdings. I will start with 10 trades going on at one time, the test will need to have ALL TEN positions (half short, half long)exit in the green for me to consider this test successful. The average trade will be around 10K and have a risk:reward ration around 2.5:1 with a high 90's percentage of successful execution.
As far as todays action was concerned, nothing exciting, no deep extension up or down, and nothing heavily extended into the close. Currently I am 100% in cash. I'll attempt posting my 10 trial positions as I enter them. At least, when I enter them. Have a good night!
Somethings never change in Wall Street...
1 hour ago