In the previous post, I talked about shorting at daily R2. Indeed the opportunity came, but guess what. I was in a meeting missing the 100 pts drop. That level was also pullback to 8EMA on daily chart (YM). Now it's about 140 pts off that level. Dagger!
Have you ever felt that when you don't get in the market, things go in your way, but when you do get in, things just go against you without any hesitation? I feel like that at least since the beginning of 2008. I back-tested a simple setup on Wheat, so I was ready to implement, but on past few days, the setup happened every time I stepped out. I guess I'm full of it giving a non-sense excuse.
One of reasons I started this blog is to record this kind of frustration, but eventually I would like to work way out of it to become a better trader.
By the way, my money for Roth IRA should be cleared soon. Do you have any recommendation on stocks for a looooong term basis?
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2 comments:
hey man..what do you use for backtesting?
Hey boogster,
I use Tradestation for backtesting. eSignal has it too, but I didn't find it as good as TradeStation. If I remember correctly, you have engeering background, so it'll be pretty easy for you.
Later, I will post some of backtests I've done. The good thing is, you can 'optimize' your target and stop.
For the example of grains, the results are completely different between the last 2 months and before that. You can control all and backtest.
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