AK1 ES strategy

Some time back a member of our forum,AK1, posited a strategy for trading the emini S&P, ES, which I followed on and off for awhile. About a month ago I started to actually trade the strategy with reasonably good results ,in my opinion. I share the strategy with you at the request of our administrator, Bruce, who was kind enough to try and locate AK1, since I had a few questions about the strategy.

Find the closing price of ES at 8:29AM EST on the day before you intend to trade.
Find the closing price of ES at 8:29 EST on the next day. If the price is higher you are in buy mode and conversely if the price is lower.
Take a Fib retrace reading from the overnight trading. If in buy mode enter a buy at the first fib bar above the 9:30 AM EST market opening. Use a 4 point sell stop and a 4 point sell limit.
If neither of the sells is taken out at the close of the regular trading session close the position.
Reverse the procedure for sells. If the closing price at 8:29 AM EST is below the previous day's 8:29 AM close enter a sell order with a 4 point buy stop and 4 point buy limit. Here are the results of a months trading.

DATE AK1

		Buy	Sell	Stop	Tgt	Gain	Loss		   

1/18/2011	1289		1285	1293	4			   

1/20/2011		1275	1279	1271	4			   

1/21/2011	1283.75		1279.75	1287.75	4			   

1/24/2011		1279.75	1283.75			4		   

1/25/2011		1284.25	1280.25	1284.25	4			   

1/27/2011	1291.5		1287.5	1295.5		4		   

1/28/2011	1298.5		NO TRD					   

1/31/2011		1275.5	1279.5	1271.5	2			   

2/1/2011	1292.5		1288.5	1296.5	4			   

2/2/2011		FISHING						   

2/3/2011	1295.75	1299.75	1291.75	4			   

2/4/2011	NO TRD 						   

2/7/2011	1311		1307	1315	4			   

2/8/2011	1317.75		1313.75	1321.75	4			   

2/9/2011	1317.75		1313.75	1321.75	4			   

2/10/2011	1307.75	1311.75	1303.75		4		   

2/11/2011	1315.75		1311.75	1319.75	4			   

2/14/2011	1327.25		1323.25	1331.25	4			   

2/15/2011	NO TRD 						   

2/16/2011	1330.75		1326.75	1334.75	4			   

2/17/2011	1331.5		1327.5	1335.5	4			   

2/18/2011	1340.5		1336.5	1344.5	2			   

2/22/2011	1329	1333			4		   

2/23/2011	1312.75	1316.75	1308.75		4		   

2/24/2011	1302.75	1306.75	1298.75	4			   

2/25/2011	1315.25		1311.25	1320.25	4			   

2/28/2011	1329.25		1325.25	1333.25	NO TRD			   

3/1/2011	1333.25		1329.25	1337.25	NO TRD			   

3/2/2011	1302.25	1306.25	1298.25		4		   

3/3/2011	1323.75		1319.75	1327.75	4

I think this is essentially how AK1 presented it. Please feel free to comment. I also have some code for TOS which places the fib numbers on your screen if anyone is interested.

I try to control what I can and let the rest do its thing. I have no idea which way the market will move at a given moment. (does anyone).

I focus on good areas to trade and try for 3:1 RR. I agree, many ways work for many different people. One must find their "sweet spot".

1:1 makes me nervous.

thanks for the clearing that up...i was like whoa 90+ points in like two months...wow

Here is another way I try trading. Say we are seeing a selloff on say a Tuesday. Start looking at numbers from the previous Tuesdays to initiate entries. E.g. On the day we had a massive selloff last year when the DOW TANKED 1000 POINTS. I posted some sucessful trades as I took them hoping someone will catch on.........fwiw....

I'd still like to see what Fib you are using on each trade ...Is it a 24 % retrace, a 38 retrace a 50 % etc.....I'm assuming u use the same fib on each trade otherwise it is too subjective ..thanks Gus