What if the markets had collapsed this week? Do you use stops or just hold on hoping for a reversal? The last 18 months haven't been that volatile but looking back a bit further there have been times of extreme volatility and it would be interesting to know how your system would cope with these. As it is EOD, I would have thought it would be straightforward to get a 10 year back test. That would reveal if it works in different types of market conditions.
Thanks for the reply Kipper. Will be interesting to see how you get on. I do think you should consider looking at how your system worked in previous years. If it worked well, it will give you a lot of confidence, if it had problems, you might be able to avoid them in the future.
If this proves to be successful for the rest of this year I will explain all at the end of the year and hopefully we can all prosper. In the meantime I will publish my trades based on the system for you all to follow.
Kipper - what was your purpose in starting this thread?
If it was for suggestions or help in designing or modifying a system, t2w members are pretty good at that and would have been eager to assist you. But it's the systems that interest - not just the current status of trades using it.
Why not just trade the system yourself and let us know at the end of the year if that's the timeframe you've given yourself?
Kipper interesting that you have deceided to post your trades on a BB, as I myself have done this in the past I would like to pass on a few pointers firstly your trades will need to be posted as they happen or ahead of time to silence the pessimists second you will need to explain the rational behined a trade whilst not revealing the system itself something like looking to buy at bla bla level looking to take profit at bla bla level.
Also your system seems to advocate averaging down on loosing trades something that doesn't sit well with traders.
You don't mention what starting capital you had to make the £30k profit last year but looking at the figures you give I would say you would need a starting pot in excess of £30k to trade this system for the same profit level would this be correct ?