Monday, July 24, 2006
I have made some major changes to my system after studying and reading books and blogs recently. The change was not caused by recent losses, after all, I am still in pretty nice profitable situation. :-) The reason behind this change is the seek of simplicity. Yes, I was in fact confused by my own system, and there is really a urgency to keep things simple. The change is done mostly on entry part of the system. I am basically a trend following person and I will still stick with percent risk model for money management part. Instead of looking at shorter timeframe for day trading, I intend to lengthen the time frame to 30-min chart. Most of my entry rules are inspired by Maoxian. I am basically looking at reversal up/down bar or insider bar for entry opportunity. Nothing much in this posting. Hope the simplicity works.