I did post the trading account saying that it will follow the system. Unfortunately I got caught up trying different day trading systems that haven’t worked out.
Anyways I do have an update about the rules that I think will help people avoid trades going against them and improve the risk reward considerably. It’s very simple, I don’t know how I didn’t think about it.
Now we said that the rules for longs: 1) 20 EMA crosses above 50 EMA. 2) Stochastic is overbought. 3) Stochastic moves to oversold. 4) The K line crosses above the D line.
Now sometimes the pattern fails, in the old rules… we would wait until the pattern reversed.
Now the new rules I suggest is to exit the trade when the following happens (The K line moves back below the D line and into the oversold area). You can enter the next time the K crosses above the D line again.
This way, even though you might encounter more losing trades, your trades will generally be shorter and you will never be in a really bad losing trade.
I will look to post examples when I can.