One of the most frustrating parts of this strategy is if you insert the stop loss after the purchase, on volatile days like today... it may trigger the buy and then the sale too.
Today's example has caused me to reevaluate this issue. I'll backtest and make adjustments if needed. It's all a matter of what risk one is willing to accept.
Let's see where we stand...
August 23rd, I chose HS @ $34.86 with a stop loss @ $34.51. It trigger the buy, then the sale, then climbed higher.
For August 24th, I'm choosing JVA @ $16.61 with a stop loss @ $16.44.
The Overall total return is 73.8% since my first purchase in June.
So far... 8 winners... 2 even... and 10 losers (at -1% each, and one at 0.3%) for a great overall profit.
See you tomorrow!