Hey y'all, I think I'm done backtesting the ES 8t quick scalp on the various bar sizes.
Between 1/27 and 3/12 the 15m entry did 33W 5L for 86.8% win rate. I didn't calculate profit factor. The first loss was a double loser day on 2/6. So it's been a while that it's been winning.
Hi traders, I added some more backtest data so updated my post. Between 3/12 (today) and 2/14 the 15m break for 8t had a 100% win rate! I'm going to do more backtesting to see if this holds up.
Hi traders, I'm backtesting a 'hyper-scalp' variant of OND on ES only to start. My idea it finding something quick and possibly automatable. I still have a hard time with drawdown impact on my psyche so I like the idea of small stops and quick targets. I also started looking at this as a way to recover a Tradeify S2F account I have with not a whole lot of drawdown left.
Also, just using a 24t stop (or not much bigger) makes this idea useable on smaller prop accounts and scaleable on larger accounts.
I don't think it will be better than the normal OND for seasoned traders, but for me who's not that great yet with discretionary chart reading it's another way to simplify and structure trades.
Using the 5m, 10m, 15m candles and signal candles, just taking a 8t target on a quick scalp.
24t stop for now based on prior backtesting hinting it was a pretty good starting point.
- I'm using a 5m chart to form the signal candle then a Renko chart to measure the MFE and MAE.
- recording the stop required to hit 8t to see if the 24t stop can be reduced.
- recording the MFE before it hits the 24t base stop as a way to look at how big T1 can be with high probability and possibly increase 8T reliably.
Here's what I have so far and it's looking like the 15m candle hyperscalp is a good signal.
I'm also considering how it would look to take all trades or just a combo of 5m and 15m or 10m and 15m etc.
