MOC orders for larger size

DevBru

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As posted in another thread i have been slowly getting into trade stocks lately, so far only paper trading.
My size wont be huge from the start but i am planning to seriously increase my size once my strategy shows it is profitable in live environment.

Since my strategy is based on close prices all trades will be executed via MOC orders, this also gives me the opportunity to trade large size since the close trade always has huge volume. I have calculated i could go up to at least 1% of the daily volume with a MOC order without having to much of an impact on the market, however 1% is quite a lot and will not happen very soon ;)

My exit's are also done via MOC orders, so there are no stops or targets in place, both for the long and short trades.
During the backtests i have done i did not had any to large equity swings to the downside because of this, of course i could also start unloading a position if it goes hard against my position during the day.

Most trades will last anywhere from 1 day up to 6-8 weeks maximum, depending on the momentum.
Momentum is also what my system is based on, it is a reversal/continuation system with a fixed 1:1,5 risk reward, however my average risk reward during backtests was 1:1,65 and a 75% win rate because i only close my positions on close if the market closed above or below my target/stop price. I might look into a trailing stop of some kind so that i can maximize my potential profit.

Very keen on hearing some opinions from more experienced traders regarding these MOC orders and the fact that i will not be using fixed stops and targets. What do you guy's think of such a trading system?
 
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