I had a good week of trading this week and overall, I am feeling on top of my game at the moment. I just need to keep reminding myself not to get overly confident but instead, simply continue doing more of the same.
This has also been a good week because I may have developed a new strategy that is showing a lot of promise. I am still back testing a few different scenarios but so far, it is looking very promising. For my impatient side, I am working on a scalping strategy that trades relatively conservatively but only targets a handful of ticks in a period of 3 minutes or less.
Perhaps it would be interesting to share the rules behind the strategy on the blog to see if others could help me make it better and then we could all share in it's glory. The biggest downside to this would be the few who don't think for themselves and simply trade it blindly. I'm not a fan of that type of collaboration. Now that I think of it though, it would be interesting to share strategies with a small or even large group of traders with the purpose of developing strategies together; call it a strategy incubator. I have a few strategies that have hit a dead end but maybe a fresh perspective or two could add some tweaks to make them work out and then everyone could benefit by it. I'm sure many of us have partial ideas that could use some outside thinking so it could turn into a trading think tank for the purpose of creating a small portfolio of trading strategies. Maybe this could be done in a private blog to keep all the dead weight out? I don't know, just a random thought...
In the meantime, here is an equity curve for this week's trading:
Have a good weekend!