HOW-TO: Backtest Your Forex Strategy & Increase Your Win-RateIn my earlier article, " Proving Your Trading System with Backtesting ", I demonstrated how, in the Futures market, you could backtest your trading system, see what works and what doesn't, change your variables, and rinse & repeat until you have a winning trading formula.
You GET this winning formula by torture-testing (ahem, *back*testing) your system under every market condition.
My last video backtested Futures as an example and I received dozens of requests to demonstrate and develop a similar system using Forex, so here it is! This video will show you HOW you can backtest your own Forex Trading system over time, determine its results, and refine it until it is bulletproof (or marketproof!).
All you need is a Trading System, a Spreadsheet, and a great trading platform (ahem, like TradingView) :-)
Trading can be the most rewarding of careers, but only after putting in the hours of hard work. And like everything else in life, if you don't put in the work, you won't get the results. And if you put in the work AHEAD of time, you won't have to put a DIME of your hard-earned capital into the market until you are CONFIDENT that your system will multiply that money in your account rather than feed the market monster.
I hope you enjoy the video... but more importantly I hope it will help you become a better trader. If this was beneficial to you please feel free to leave a like, a follow, or a comment... I'd love to hear from you and stay in touch as we all move forward in our trading journeys!
Trade hard, and trade well!
-Anthony
Winsomelosesome
Backtesting Part 2: Testing Your Trading System in 3 Easy StepsIn my earlier article, " Proving Your Trading System with Backtesting ", I outlined the HOWs and WHYs of backtesting. Does your trading system work under all conditions? Under what conditions might it *not* work? Can you remove those instances from your plan? Under what conditions might you *improve* your win rate? In another article, " The Unexamined Trader ", Just as an unexamined life is not worth living, the unexamined trader should not be trading a system that has not been tested under every market condition (and I mean TORTURE tested under HUNDREDS of trades).
This video will show you HOW you can backtest your own system over time, determine its results, and refine it until it is bulletproof (or marketproof!).
All you need is a Trading System, a Spreadsheet, and a great trading platform (ahem, like TradingView) :-)
It will take some time and effort, but like everything else in life, if you don't put in the work, you won't get the results. And if you put in the work, you won't have to put a DIME of your precious capital into the market until you are CONFIDENT that your system will multiply that money in your account rather than feed the market monster.
I hope you enjoy the video... but more importantly I hope it will help you become a better trader. If this was beneficial to you please feel free to leave a like, a follow, or a comment... I'd love to hear from you and stay in touch as we all move forward in our trading journeys!
Trade hard, and trade well!
-Anthony
EUR/USD Long play in action.In my last post I was monitoring a potential wedge pattern forming on the 4h time frame for a long break out. It has since broken out of the wedge pattern to the low side and is hitting the 61% fib level for a bounce that we could see go as high as 1.2000. We also have a monthly support level a little lower than current price action that I dont think we will break. For now I am going to play a long position to about the 1.0900 level.