I'm thinking of trading on momentum. I'm a beginner but it looks like green candle sticks follow green and red follow red, especially with an etf like robo. If I buy and sell the day after reversals, back-testing with only my eyeballs looks damn profitable. $0/trade. Why should I not do this, or how should I backtest this... Basically why is this a stupid idea?
To rephrase my question, let's say robo is losing money for a few days and then one day it makes money. I buy at whatever the price is at 11:00am the next day and sell at 11am the day after the stock has a negative day. Where do I find the data to test this and why am I an idiot?
Submitted January 28, 2017 at 08:55AM by majortom721 http://ift.tt/2kxqCrw
