The dip-buying strategy worked as expected. On tomorrow’s open I will close all 5 positions, 4 of which will likely close with profits. For this round of dips, 4 of 7 are probable winners, making a 57% win rate.
Tomorrow evening I will post the exact exit prices, and then we can see if the system made any money on this battery of trades.
Optimization of the Power Dip position-sizing method suggests that the maximum number of positions held at one time could be greater than 5, and likely closer to 10. The positions above have been traded at 2% risk per trade. Risk will have to be reduced to 1% in order to include more than 5 positions, or there will not be enough capital. Future dip buying trades will be position-sized at 1% risk.