Weekly intraday strategy review and request to readers.

30 May 2020

Weekly intraday strategy is our new strategy.It is a test strategy,it is not meant to be traded.

The aim is to built a strategy from an assumption by trial and error method, learning and tweaking as we proceed.The aim to reach a super strategy at the end.This employs a live back testing.

RECAP

The strategy is based on the fact that top weekly gainers and losers have a good chance for reversal from overbought regions.This can give opportunity.

We use Bollinger bands to find the top zones along with RSI,Stochastic indicator for confirmation.We enter when days low is breached which is another confirmation.

The strategy seems to have enough edge going forward,now,our aim is to further tweak it after live performances.We may end up with a completely different strategy after sometimes, that is good as long as it can make money.

Last week lessons

Stop loss initially was planned at 0.60% from entry.Now,it’s tweaked to 0.72%( initially planned 78 ,but changed).

Entry was planned just below day low but we saw many entries reversing after a rejection and a  0.15% entry seems to reduce noise.

Exit as of now is Bollinger median line,but open to changes.1 hour candles are showing good trend continuation.

We have 1 option as- ‘exit at bollinger median’.

2nd option as ‘exiting with a fixed reward’.

3rd as waiting till end of the day.

4th as trailing till end of the day.

I have not finalised,in the last 2 days our performance was poor.Forcing me to think of riding winners rather than exiting at median.So that big winners can really reward us.Lets give few more days time to see how the strategy fairs.

4 days is not enough to test a strategy and let our strategy evolve in the coming days.

Thanking you.