Record today was 3-3-0 with an average winning R of 1.61. Not too sexy, but did finish positive. Two positive days in a row! Yippee! I did not book any for 2R today but instead went for home runs, i.e. moving stop to breakeven after 2R target is breached and using a lower timeframe to determine levels to move stop down to. I will be trying this method out while paper trading to see if the frequency of outsize winners makes that exit more profitable than an R-based, singles-and-doubles exit strategy.
Also, if the signal bar (BB-piercing bar) has a greater range than previous bar, that MAY decrease the odds of winning. This makes sense though in light of the nature of increasing volatility and its effect on the odds of winning. It seems that any abnormal increase in volatility makes a play suspect. Also, increasing volume in the direction of the pullback may also decrease the odds of winning. I will be investigating these further.
Here are some of today's highlights.
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