As the Nasdaq Composite (NQ) surges past its previous all-time high, reaching 16,800, the trading world buzzes with anticipation. This milestone, surpassing the late 2021 peak, signals a strong potential for continued bullish momentum, especially in light of the recent Federal Reserve decision to pause interest rate hikes and consider cuts in 2024. In such a promising market scenario, the Gemini Strategy emerges as a key player for traders looking to harness these upward trends. Demonstrating consistently profitable performance over the last four years (including during the 2022 bear market), this strategy is poised to be a go-to system in 2024.
Unpacking the Gemini Strategy
Developed with Pine Script v5 and tailored for the 1-hour NQ chart, the Gemini Strategy is a long-only trading system that excels in precision and adaptability. It combines session control, a suite of technical indicators, and strategic entry and exit points, all carefully designed for today's dynamic markets.
The strategy is utilizing a number of technical indicators -- VWAP (Volume Weighted Average Price), 300-period EMA ((Exponential Moving Average) as well as Duo of Bolliger Bands to determine its entries and exits. The strategy also includes a fixed stop loss and take profit options, which are essential for protecting investmetns and maximing gains.
Stellar Performance During 2020 - 2023
The Gemini Strategy has demonstrated remarkable resilience and profitability over its four-year track record, consistently delivering robust returns while adeptly managing drawdowns. This consistent performance underscores its adaptability across diverse market conditions. Detailed below are the results of the Gemini Strategy over the last four years, taking into account practical trading considerations such as a $1.5 commission per contract and an allowance for 4 ticks of slippage, further emphasizing its real-world applicability and reliability.
Gemini, 2023
Net Profit: $48.5K
Max Drawdown: $6.4K Win rate: 59%
Gemini, 2022
Net Profit: $34.1K
Max Drawdown: $5.9K
Win rate: 46%
Gemini, 2021
Net Profit: $38.6K
Max Drawdown: $6.8K
Win rate: 65%
Gemini, 2020
Net Profit: $48.2K
Max Drawdown: $4.6K
Win rate: 64%
2024 Market Outlook
In the current context of the NQ's breakthrough and a favorable economic outlook set by the Federal Reserve's policy, the Gemini Strategy is ideally positioned to exploit the bullish trend. Its proven track record and strategic design make it an attractive choice for traders aiming to take advantage of the market’s upward trajectory in 2024.