Development Method Day Trader

Posted by on Oct 11, 2018 in Be a Trader | 0 comments

TMT provides key trading concepts code monthly

for traders that are building their own library of systems along with an explanation of the driving force behind the strategy and ideas on how to improve it.

Play Gap is one of the free code files and worksheet gave to new TMTs and it has now advanced to a ready to trade system, have a look.

The most reliable method of reviewing or developing a day trading system begins with an exit MOC ONLY. By its very nature, a day trader must exit no later than the close. If you are going to make any money, that is your cut off.  You do not concern yourself with all the potential intraday gyrations at this stage

One of the key advantages of the Exit MOC is no slippage in your results plus if your strategy enters on the open of the next bar, there is little or no slippage on the entry, adding confidence to the historical results.

If the strategy shows good results without intraday exits, you can build the risk/reward ratios from there and improve the trading concept’s profits over the look-back period.

Along with price-based exits or hybrid price &money exits, filters can be used to improve the results of a sound system, to help avoid the losses and increase the odds of hitting a winner.

Our Technical Event Model – %C and TMT’s Historical Volatility indicators fill that role nicely.

However, before you bring in TEM while building the strategic entries, a gap open filter can be applied.

Below you see the results of this essential trading idea playing in the direction of the opening gap. The results are on the Crude oil futures for 13 years to date. There are certain requirements for the gap to be valid before entry is allowed.

Given is decent results, I will cut the code into TMT’s ready to trade systems – %BB-DBR, Eclipsed VII, Dunn’s Deal, New Turtle Trader, and Kenner Edge shortly and FastEddie trading a as a filter to see if I can improve the numbers on these already confident trading systems.

The new ready to trade Play Gap code has a workspace with charts for US, GC, SI, CL, EC, NG, Nq and RTY. There are only two inputs each side long and short. The trade only needs to add money management.

A bonus with new quarterly membership

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