Highlighted Trades - 03/14/2024
Today was our first day on our newly updated system. We saw 47 trades today (3 long, 44 short) made across 40 tickers. Let’s examine them.
Our biggest win today was a short on ADI. We had no re-entries on this ticker, and made a total of 0.56% here. This is really the gold standard of what we’re looking for, and shows all of the new checks our system has had added. The cross is solid, there’s good momentum, the lagging line is below price action, candles below Tenkan-Sen, MACD looks good. The only red flag I can see here is that the Kijun-Sen line is pretty flat throughout the day, though in fairness, we did enter this trade right after it dipped downwards.
The only 3 long trades we entered today were on EG (1 initial trade, with 2 re-entries). We took a loss overall on these and . . . it’s not hard to see why. The chart is incredibly choppy, both before and after our initial entry. I can say without hesitation that I would not have taken any of these positions.
Our new algorithm is a good deal pickier than our previous one. To compensate, we expanded the list of tickers it’s allowed to scan. We’ve taken some measures to restrict this list exclusively to high volume, high liquidity tickers that won’t get choppy like this, some have gotten through our checks. We’re keeping a lookout for tickers that we want to remove from consideration, and will be updating our list in real time, but we’re encouraging our users to be on the lookout as well. Choppiness is one of those things that a human can notice easily, but for a computer system, is much harder to categorically identify.
Our biggest loser of the day was this trade on OUT. We lost 0.41% - no re-entries. Unfortunately, there aren’t really any red flags to this. It hit all of our hard requirements, and scanning visually, I can’t see any clear reason not to have taken it. We’re constantly working to improve our system, and hopefully we’ll have fewer losers like this in the future.
That’s all I have for you tonight. Thank you for reading, and happy trading!
