Like my UBER idea from yesterday, TW doesn't have a long enough track record for my to "officially" rank it among the stocks I trade, but also like UBER has produced excellent results during its albeit relatively brief history.
Its record with my algo is 158-1 (the one "loss" is from a signal generated yesterday). The average gain was 1.33% in 13 trading days - over 2x the average daily market return. I have recently been applying an additional filter which was applied to this trade that has produced 9 trades in TW over the last 2 years that have produced an average daily return of over 1% and 7 of the 9 trades using this filter closed the next day and all 9 closed within 3 days. That's obviously too small a sample size to draw any significant conclusions from, but it certainly doesn't hurt my confidence that this is a good entry point for me.
Additionally, that regression channel covers the entire last year and shows how consistently this stock has risen over that time. Trends obviously continue until they don't, but the trend is always your friend in trading, so it's another boost to my hopes for this trade.
A big, fat 1 day return is the goal, but I reserve the right to not exit on the FPC. I may hold this one a little longer than usual depending on the circumstances because I believe it could increase my per day held returns.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Its record with my algo is 158-1 (the one "loss" is from a signal generated yesterday). The average gain was 1.33% in 13 trading days - over 2x the average daily market return. I have recently been applying an additional filter which was applied to this trade that has produced 9 trades in TW over the last 2 years that have produced an average daily return of over 1% and 7 of the 9 trades using this filter closed the next day and all 9 closed within 3 days. That's obviously too small a sample size to draw any significant conclusions from, but it certainly doesn't hurt my confidence that this is a good entry point for me.
Additionally, that regression channel covers the entire last year and shows how consistently this stock has risen over that time. Trends obviously continue until they don't, but the trend is always your friend in trading, so it's another boost to my hopes for this trade.
A big, fat 1 day return is the goal, but I reserve the right to not exit on the FPC. I may hold this one a little longer than usual depending on the circumstances because I believe it could increase my per day held returns.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Trade closed: target reached
Sold at the close for 139.86 -- a +1.2% gain in 1 trading day. Sometimes it works just like you draw it up...Note
Trade results for my recordsWins 1 Losses 0
Avg gain per lot = +1.2%
Avg holding periods per lot = 1 day
Avg gain per lot per day held = +1.2%
Annualized RoR = 1.2% x 252 = +302%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.