X, hilo, and NYX

Okay, so here is a better trade that I made this past week:

Stock X:
Buy: 5/1/2007 99.88
Sold: 5/8/2007 108.00

I have been playing with wealth lab quite a bit, and I have modified one of the hilo scripts which got me the entry in to this trade.

X hit the lo on the hilo at 99.88, with oversold indicators (ADX And Stoch). I set the target at around 107.50, I ended up selling at 108 because it opened up higher. A nice 8% profit.

It closed at 113 today, so I'm not quite sure how to feel about this. This trade was all automated with limit orders, and I hit my profit target(3xATR), so I am happy about that. On the other hand I'm torn. I've toyed with using chandelier exits that move in the direction of the trend, but in my initial testing I haven't seen good results. Maybe if I hit the target, and then set a chandelier exit. Or maybe sell half the position at 1st target and then implement a chandelier exit.

There are so many variables in the system I am trading that I can attempt to tweak in WL and see how it performs over time. Right now I am fairly happy with this system for now, until I learn a bit more. In all the tests I've run it produces 30-40% returns backtested...

On another note, I have an open position in NYX (bought at 84.29). It's been fairly volatile of late, but looks to have a lot of support in the high 81's. Many are speculating it to go up quite a bit when they release the Euronext numbers next week. Of course there also lots of shorts bashing the stock too. My gut it telling me to widden my stop and target a bit in anticipation of next week. Maybe I should attempt an exit strategy like described above. We'll see...