Reader: I saw the documentary you posted on Twitter regarding fractals and I am extremely happy to see that you studied the source. There are very rare people that do that. I tested some systems based on weekly moving averages/breakouts in futures markets. The results are very good, but one has to wait the whole week & it requires tremendous patience. What say regarding weekly strategies in futures markets?
Covel: Weekly. Yes! Many top pros do so too. Were you looking for a quick confirm?
Reader: Yes, because I used to trade daily time frames. Never thought of weekly. Now when I tested I found it to be smooth. Although there are sometimes only 4-5 trades a year. Also, in some stock futures I backtested and found the results slightly negative over 10 years. But in combination of overall portfolio it was greatly positive. Also, I think that the majority will not think of weekly time frames while trading futures in this High Frequency world of today.
Covel: I agree. Many agree. It works. Has for decades. Patience is an issue for any strategy.
Learn the rules behind trend following, and the systems to apply them.
See the coursesMore from Michael Covel: Books · Podcast · Trend Following course