Hello all,
I hope someone can help guide me in the right direction. And hope this help others as well. After losing about $7000 over the past two years, I research and found, I need to:
1. Define a trading system(s) for myself. I like resistance and support breakout trading.
2. Correctly manually backtest of +100 trades for each strategy idea.
3. collect the right data in spreadsheet. I welcome any spreadsheets please to use.
4. If and only if the backtesting reveals a profitable system from +100 trades, manually forward test with paper for +100 trades. Else go back to step 1
5. If and only if the system is profitable program the system(s) if profitable and automated backtest for +10 years of historical data using a platform. If profitable, proceed, else go back to step 1.
I have 3 breakout strategies I want to test.
My biggest problem is I don't know how to collect data to determine optimal stop loss (I prefer not losing more then $150 per trade), entry, and target (I prefer R:R 1 to 3).
Is this enough data to collect for data analysis?
Data Collection in spreadsheet in columns:
1. Time of Trade
2. Price
3. Long or Short
4. Contract Size
5. Win
6. Loss
7. MAE
8. MFE
9. Profit made if not break-even after up $150. No breakeven testing.
10. Max stop loss that could have prevent a loss for fake-outs.
11. Profit when trailing from previous low/high to catch a higher R:R
Thank you all. Really appreciate the help.
I hope someone can help guide me in the right direction. And hope this help others as well. After losing about $7000 over the past two years, I research and found, I need to:
1. Define a trading system(s) for myself. I like resistance and support breakout trading.
2. Correctly manually backtest of +100 trades for each strategy idea.
3. collect the right data in spreadsheet. I welcome any spreadsheets please to use.
4. If and only if the backtesting reveals a profitable system from +100 trades, manually forward test with paper for +100 trades. Else go back to step 1
5. If and only if the system is profitable program the system(s) if profitable and automated backtest for +10 years of historical data using a platform. If profitable, proceed, else go back to step 1.
I have 3 breakout strategies I want to test.
My biggest problem is I don't know how to collect data to determine optimal stop loss (I prefer not losing more then $150 per trade), entry, and target (I prefer R:R 1 to 3).
Is this enough data to collect for data analysis?
Data Collection in spreadsheet in columns:
1. Time of Trade
2. Price
3. Long or Short
4. Contract Size
5. Win
6. Loss
7. MAE
8. MFE
9. Profit made if not break-even after up $150. No breakeven testing.
10. Max stop loss that could have prevent a loss for fake-outs.
11. Profit when trailing from previous low/high to catch a higher R:R
Thank you all. Really appreciate the help.