The early morning momentum play strategy that we have tried out today and yesterday is not working out as we have planned as there it just too much noise in the market. As you can see by reviewing the trade log and chart of the day the positions that were identified were great trades and would have been profitable if the original trading strategy had been used. We have learned that trading tick by tick is not for us and will be going back to the original strategy of buying a basket of stocks that meet the criteria.
You may also notice a few trades taken to the short side at 1 share per trade. Phalanx is developing and testing a shorting strategy right now by using small trades over the next few weeks to determine what works. Once that strategy has been ironed out it will be scaled up to the full position size which is the same way that the company approached the development of its long only strategy. The short strategy once developed will give Phalanx the ability to profit from both sides of the market and increase profits each day. Keep following the daily posts for more updates on the short strategy and any progress or challenges we face along the way.
Check out the the charts below to see the trade and how it played out. Any questions shoot us an e-mail at [email protected] or leave us a comment below.
Today's Phalanx: 9 Tickers Traded (See the log below for more details): SNAP, AXNX, ONCY, BLDP, PBA, ADMA, PBYI, JNCE, DBD
Website and Live Youtube feed coming soon!
Phalanx Equity Curve
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