Highway

RUN IN PAPER; YOU HAVE BEEN INFORMED.

The bot's name is "Highway".

It intends to stay within the realm of quasi-asymmetric R:R while balancing drawdown at every point-in-time. Use the "Screener" to filter tickers with IVR 10 through 30.

Keep the "TestMode" on as we want it to try to trade as much as possible in that telling us how it performs. I will re-structure the scanner after a few test trades are in. You know, this is not a blind shot or anything close. It is as good as it gets for now.

Keep this in sight,

^ Through this, what we are trying to communicate is that we do not know the prevailing direction at the time of the trade, so we will try to trade in all direction. If the market is in manipulation mode, it will offer all three. If one side (bull / bear) has gone silent, we will only enter into prevailing side. The prevailing direction continues to convince us (keep offering winning trades) until we are convinced (and start losing from that point on), or the market goes manipulative again.

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Goals:

• Avoid (relative) short DTE
• Focus on quasi-asymmetric R:R
• Avoid over trading per symbol per day
• Does not intend to save costs on commissions
• Does not intend to be PDT friendly
• (Recommended) Compatible with Trade Idea supported ticker
• Relatively untested entry / exit criteria
  • An important aspect in determining the success

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TODO:

1. The R:R should be bounded from both the ends. Without that, we have an asymmetric risk where a high reward from a losing position would eat into the high reward from a winning position in that reverse asymmetric R:R would be against us.
2. Limit 6 rolling positions every 3 days per ticker in that any position type cannot take more than 2 spots from the 6 rolling positions. That way, the probability of unintended drawdowns should be in the favor after every 6 days.

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Closing notes:

• I have purposefully kept notifications out of this bot as it quickly piles up
  • It may serve purpose in the future
• Limited by the "bugginess" and maturity of Trade Ideas
  • There is no point is including any special handling there

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Success criteria (future revisions will be likely be required):

• Run the profits above the exit options
• Cut the losses around the exit options
• Makes assumptions about market liquidity in that we should not even be getting into losing trades over the medium term (few weeks)
• The losses do not incur a mental toll due to the offsetting effect
• Trades fairly frequent without over-trading

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Should you decide to use it and have time, feel free to share how is your experience so far.

Let's see if it blows up in our face... ;)

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Public Notes:

• It is your responsibility to make sure you are running the latest version of the bot
• If not anything better, I will do my best to not introduce any changes during market hours
• I will do my best to not introduce any changes after 11:59 PM ET

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