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DJIA/WALL STREET STRATERGY


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Hi I have made a strategy based on some training I have been doing myself for almost 2 years part time.

I would like to know if anyone thinks it is ok and any changes I should make.

It is based on confluence eg support level and daily Pivot point and fib level all in the same place.

I have pictures of some trade setups I have taken before and after if required.

Link to Dropbox.

https://www.dropbox.com/sh/yoskqqbzaqwocv2/AADUF79K0ATIVgzcdvuySA5Ha?dl=0

 

Thanks

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 Well done on the hard work, look forward to posts of some charts of the method in action. The prerequisites are well thought out and detailed but the record of success/fail is just as important. Well worth putting through the grinder and seeing what results.

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Ok I will post some results this week. I only have a week and a bit due to just starting testing it. I did right all the strategy my self but I took the idea from a trade room I was in it is similar to there strategy. I am not in there trade room now and have been doing my own set ups I just need to look through them and put them in order. The trade room was good link to there week review below you tube they do not have sound for most of it but if you want to look at there other posts they are good. They have had a few 1000 point trades this year.

https://youtu.be/gJV6gekQff0

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A good time to consider how to measure and record outcomes. There are a number of ways to do this. I like to record the win rate of winners verses losers and the risk reward ratio.

 

So for win rate you will have a percentage of winners.

The risk is the size of the initial stop loss.

The reward is size of the gain (or loss) on exit.

The ratio is the paired down sum so risk is 1 :  to reward.

 

Then compare to the graph as to overall profitability. Any plot above the red line indicates a winning strategy and below indicates a losing strategy. 

 

So a win rate of 40% with a RR ratio of 1: 2.5 would be profitable. A win rate of just 10% would need an RR ratio higher than 1: 9.

Of course the more trades you use for the calculations the better. There are free excel spreadsheets available to give a running tally of all trades. See this thread for an example.

https://community.ig.com/t5/New-to-IG-Community/Diary/m-p/23486#M589

 

The excel file 'Trade Journal.zip' can be downloaded from here should you want it.

https://forums.babypips.com/t/free-excel-trading-journal/52738

 

 

 

ST,RR.PNG

 

 

 

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Although I’ve always recorded my trades on/off and stuff I’ve never compiled it all into a spread sheet and looked to calculate the ratios you talk about above. Thanks for the links.

 

Do you do this manually or do you have something set up automatically so you download the daily statement and then copy paste and it figures it out? Or that api thing?

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As I don't use the spreadsheet to calculate the money aspect so I leave all that blank, so for me there are only 3 manual inputs, (entry price, stop loss and exit price) plus any comments I might want to write. All else is dropdown box or auto calc.

 

You can run a spreadsheet for each different strategy and compare outcomes over a number of trades or just watch the stats if any changes to a strategy are made, they are surprisingly sensitive and soon show up change for better or worse.

 

The important thing is you are no longer guessing whether a system is working or not over time.

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Hi thank you for the info I will have a look after work at the links.

I am just going to record my before and after screen shots of my trades I need to start to write on the trade set ups my entry and exit prices but I have marked them on the chart using a point to point line.

When I am more confident in my trading I will be using edge wonky to record and track my trading as this gives a lot of feedback about profit and loss of different strategies and how I can adjust stops and targets to be more profitable.

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