Behold: Power Dip Wednesday Picks
Wednesday, December 9, 2009 at 9:33 am
The Power Dip web service is in beta testing. I am getting some great feedback on the service, and am looking to implement a few of the suggestions before launching.
I am most excited about the email alerts, which will be sent out at 3:30 for any positions exceeding their exit thresholds. This is a very cool function for working stiffs like myself.
System performance has been excellent, with over 2% average trade and 78% winners since we started tracking it automatically.
Stay tuned…More to come!
Hey Wood,
A few times now I’ve sold when one of the dips has risen above 10% of my buy. I did this with CWST today and it seems to have definitely been the right move so far (I got out at about 3.89 and it’s currently 3.68).
Is there any way for you to backtest such a rule? Even something like 5% might be interesting.
Thanks,
Michael
For the record, a 10% profit target makes some interesting results. I will be writing more about that in the near future.
Michael, I can test that, no problem, but I can say with reasonable certainty that it will hurt performance. I’ll try to post the results here tonight. I should also have some results for ATR position-sizing/stops.
Shed, what is the best way to contact you with questions regarding the Power Dip System? I would be happy to help out with testing.
Eddie, woodshedder73 at gmail
Having trouble sending to woodshedder73 at gmail for some reason. Can you send a message to eddie at profirefighter dot com and i’ll resend, thanks!
I’ve read too many posts now to remember where/if you said it:
Have you provided annual CAGR of the backtested system rather than % wins or ave. gain, so that if you start with $100,000 you end up with $X at each year end (assuming no spreads, commissions, inflation, taxes)?
Or with them if part of the test.
Or # of trades/year.
Thanks.
Tom, I have some of that, but not all of it. I do not have #trades/year or x$ at year end, but I do have x% gain at year end. I’ll email them to you. Bear with me, I’m getting a ton of emails.