This is my first foray into systematic trading so please bear with me if my questions seem basic! I am a discrectionary day trader active mainly in the Bund, Gold, ES-mini and Stoxx futures markets, and have 2 main methods of trading (a mean reversion & a momentum strategy).
Which I implement on any given day depends, at the moment - on my personal analysis which leans heavily on volume / market profile, and an interpretation of wider chart patterns.
Im sure any systematic / quant trader will balk at this, and I have begun to see the faults in my 'lizard brain' when it comes to defining the day type. I know my methods, when used in the right context are profitable as I have been making a living using them solely for the last 18 months, however I know there is room for improvement when it comes to Identifying 'mean reversion' or 'momentum' days, and I feel I need to remove the subjectivity from this area of my analysis.
I am thus wanting to try and work on something that will help guide my judgement on what sort of day is developing (mean reversion vs momentum), whilst also track intra-day changes in this so I am able to react quickly to changes in the environment. At present I am not wanting to automate my trading, but im looking to automate this area of my analysis which I beleive can only add to my effectiveness as a trader!
I am not asking for 'the answer' - I am more than willing to put in the hours , but if anyone could point me in the direction of which metrics I should be using to track and define where a momemtum strategy should be implemented (and vice versa) I would be hugely grateful!