Oct 16 2009
Day trading strategy has passed go/no-go metric
If you’ve been reading my blog carefully enough, you know…
- I’ve been paper day trading with fake money
- There is a certain go/no-go metric that I have defined that a day trading strategy must satisfy before I devote capital.
Today my day trading strategy has finally passed my go/no-go metric and I am willing to devote capital. However, as mentioned elsewhere, I will not devote capital before November 2nd even though the day trading strategy is now ready to go.
Remember that this is an opening bell strategy and only requires that I enter my order at 9:30 am. After that, I can just walk away. It actually takes very little of my time.
I can’t believe I am going to be a futures trader.
[...] Last week my day trading strategy passed my pre-defined go/no-go metric for devoting real capital. However, I have refused to do so until November 2nd. These extra two weeks of forward testing were intended to give my day trading strategy one last chance to fail miserably before I actually devote capital. [...]