Published November 18th, 2020
DAY TRADE (SHORT) STRATEGY
Day Trading is a popular way for traders to capture and profit from short term price movements without having overnight exposure. This strategy attempts to short sell strongly trending stocks that are experiencing brief periods of excessive strength. Testing in the US market across 31,500 symbols over a period of 20-years shows consistent profitability.
The significant benefit of this strategy is that the user doesn’t have to sit and watch live prices during the day. It runs on End Of Day data, all orders are placed before the session, and the API (sold separately) will auto close the positions on the close.
The strategy allows users to generate buy and sell signals, plot charts, run backtests and adjust a myriad of parameter settings without needing to understand coding. Other filters include price, volume, turnover, market regime and two position sizing modes. The code is open source.
DAY TRADE (SHORT) STRATEGY SYSTEM REQUIREMENTS
Amibroker v6.0 or higher (Standard or Professional). Amibroker is available here.
Reliable stock data source. We recommend and use Norgate Data
The Chartist API to upload and manage positions. The Chartist API is available here *Optional
Purchaser must sign a sale agreement that contains a non-disclosure agreement. No refund is available on this product. Once the code is purchased the sale is final.
This is turnkey code and purchasers are expected to have Amibroker and know how to use it. The turnkey code does not come with support. We have some simple instruction videos how to install the Turnkey Code and run a simple backtest here.
This document may contain advice that has been prepared by The Chartist Pty Ltd (ABN 40 641 323 051).
The Chartist Pty Ltd is a Corporate Authorised Representative (CAR No. 1282007) of Shartru Wealth Management Pty Ltd ABN 46 158 536 871, AFSL 422409.
Any advice is considered general advice and has been prepared without taking into account your objectives, financial situation or needs. Because of that, before acting on this advice you should therefore consider the appropriateness of the advice having regard to your situation and your own objectives, financial situation and needs. We recommend you obtain financial, legal and taxation advice before making any financial investment decision. If the advice relates to the acquisition, or possible acquisition, of a product (other than a security e.g. a CFD) then the client should obtain the relevant Product Disclosure Document and consider it before making any decision about whether to acquire the product.
Past performance is not a reliable indication of future performance. This material has been prepared based on information believed to be accurate at the time of publication. Subsequent changes in circumstances may occur at any time and may impact the accuracy of the information.
All results are considered to be Hypothetical unless otherwise specified: Hypothetical performance results have many inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under or over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
THE HIGH DEGREE OF LEVERAGE THAT OBTAINED USING MARGIN CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS. THE RISK OF LOSS WHEN USING MARGIN MAY NOT BE LIMITED. THIS MEANS YOU MAY LOSE MORE THAN THE AMOUNT REQUIRED TO HOLD AND CONTROL THE PARTICULAR SECURITY.