The Test Went Well

I made an extra effort to make sure I was getting real fills on all of my entries and exits today while in sim. The results from the day were not huge gains, but three trades, three winners and +120 bucks in profits. Like I said, not huge... but things were working how they should've been. This system is basically like what I was trading in January with similar price patterns and entries but use different management, stops, and exits. I think the end result is a much better overall method. It seems to be very consistent and I obviously have no trouble trading it (as I was already trading a derivative of it in January). So i'll be looking to go forward with it from here.


I can't discuss the actual trigger for the trades as it is a copyrighted entry method from my mentor Austin at Coiled Markets but i'm more than happy to discuss the management and exits. Nothing fancy here. I'm using a standard setting Keltner Channel to establish places to get to par (when price trades into the channel) and to exit (when price closes outside of it in succession). I recognize that this doesn't allow for massive winners, but it also reduces risk and gives me places to take profit. More than that, this management is much better in keeping me in the trades (rather than bailing before the move) than my management in January and getting out with profit more often than hoping for a rudimentary fib target to be hit (if you recall in January it rarely was).


Overall i'm pleased with this and I feel it represents my best chance at making this work. After all, lets not forget the ONE AND ONLY TIME I was making consistent money trading since the inception of this blog was in January when I was trading essentially the same thing with the fore mentioned difference in management or exits. I can't laugh at that or discount that fact so i've chosen to embrace it. My movement from that method was my undoing and my equity curve has taken a dump since then.

Time to get back to what works for ME.

Lets make some money this week!