It has been my unshakable intention to keep it simple. Each time the process became complicated I went back to revising the concept.
The following is the new rehashed versions, which I am sure like minded traders will benefit from.... simply.
Longs
Concept: TGIF
Action: Buy Pair On Friday morning and hold till EOD... profit or loss.
Pros:
1. Most Fridays are trending days. Hence, Strike Rate is awesome.
2. Even if some are not, I will lose only one day to time-decay. Worst case 10% loss.
3. Best mental clarity, since no additional parameters to monitor. This will improve performance.
Cons
1. Only one trade a week.
Comments:
Shorts
Concept: Two big days do not come back to back.
Action: Short a pair on Morning after a big moving day (next day is often a gap).
Risk Reward: Set RR as 1:1 ;
Pros
1. After a big move the premiums are often inflated which is when we short and get additional benefit from the fizz out.
Cons
1. Uncovered Shorts are inherently dangerous. Like naked live high voltage wires. And since I am risk (and also stress and work) averse, it will affect me more.
Comments
1. SR is very good. SR is almost 95% after 2nd back to back big day. Happens less often, but whenever is does... be sure to rake in free money by increasing position size.
2. Intend to hold trade for max two days.
3. Tentative exit and SL is 15% of cost.
4. Another personal benefit I have is that, I already trade an intraday method which counts heavily on days being big (trending). So, if this works out, then I make money either way. (Is there another definition of Heaven?
The following is the new rehashed versions, which I am sure like minded traders will benefit from.... simply.
Longs
Concept: TGIF
Action: Buy Pair On Friday morning and hold till EOD... profit or loss.
Pros:
1. Most Fridays are trending days. Hence, Strike Rate is awesome.
2. Even if some are not, I will lose only one day to time-decay. Worst case 10% loss.
3. Best mental clarity, since no additional parameters to monitor. This will improve performance.
Cons
1. Only one trade a week.
Comments:
- The concept of base is now nullified. No need to monitor each days cost. I totally hated it.
- SR is already very good and I feel the RR will also be very nice. Only one day of time-decay. Lets play it out and see what more Marketji has to teach us.
- Four trades a month. Even if I end up with Nett. one profitable a month then too I make around 10%... that is doubling money in 10 trades! Not bad.
- More than anything else, I am happy because execution is super simple. Just the way I like it. I have already put in my hard work, time and intel in developing the concept.
Shorts
Concept: Two big days do not come back to back.
Action: Short a pair on Morning after a big moving day (next day is often a gap).
Risk Reward: Set RR as 1:1 ;
Pros
1. After a big move the premiums are often inflated which is when we short and get additional benefit from the fizz out.
Cons
1. Uncovered Shorts are inherently dangerous. Like naked live high voltage wires. And since I am risk (and also stress and work) averse, it will affect me more.
Comments
1. SR is very good. SR is almost 95% after 2nd back to back big day. Happens less often, but whenever is does... be sure to rake in free money by increasing position size.
2. Intend to hold trade for max two days.
3. Tentative exit and SL is 15% of cost.
4. Another personal benefit I have is that, I already trade an intraday method which counts heavily on days being big (trending). So, if this works out, then I make money either way. (Is there another definition of Heaven?
keep it up jamit :clapping::clapping::clapping: