What about this system?!

[volodja123]

I would like to have some feeedback on this system I've created.
Maybe backtest it for me or try it on a demo.
I've trade it on a demo for couple of months and it has gone pretty well about 70% accuracy.

You will need:
A 13 ema
A daily candlestick chart

-I've only tried it on stocks and indices.
I don't know if it'll work on forex or any other markets.

Go long:
When the ema is in an uptrend and you see a changeover from a bearish to a bullish candlestick, then buy at the previous day's high and put a stoploss at previous day's low.
Hold the position until the day's close.

Go short:
The reverse of the "Go long"-strategy.

Happy trading!

 

[Chorlton]

I've trade it on a demo for couple of months and it has gone pretty well about 70% accuracy.

How many trades have you made over this period?

 

[A Dashing Blade]

Intuitively it make sense + so simple that Mrs Blade could understand it.
As such, merits further investigation imo.

 

[volodja123]

How many trades have you made over this period?

Maybe 1-2 trades a week or so..

 

[Chorlton]

Maybe 1-2 trades a week or so..

Then in that case you've only made approx 16 trades to date. This is no where enough to provide any statistical evidence as to whether a 70% hit rate it likely moving forward.

In addition (and more importantly) even if a 70% win rate is consistantly possible it doesn't mean that the system will make money over time.

My advice would be to backtest this over a few years of data, either manually or via some computer testing to see how it performs.

Chorlton

 

[volodja123]

Then in that case you've only made approx 16 trades to date. This is no where enough to provide any statistical evidence as to whether a 70% hit rate it likely moving forward.

In addition (and more importantly) even if a 70% win rate is consistantly possible it doesn't mean that the system will make money over time.

My advice would be to backtest this over a few years of data, either manually or via some computer testing to see how it performs.

Chorlton

Thank you for the advice mr Chorlton!

 

[intradaybill]

Hold the position until the day's close.

Why exiting so quickly? Is there any rational behind this? I doubt if you are able to get a high enough profit factor with such exiting technique.