I live entirely from the growth of my personal trading account
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Dislikedbacktest my friend. that's the solution to your question. not live not demo because of the small number of trades. backtest 500-1000 trades using your rules and see for yourself if it works or not. {image}Ignored
Dislikedbacktest my friend. that's the solution to your question. not live not demo because of the small number of trades. backtest 500-1000 trades using your rules and see for yourself if it works or not. {image}Ignored
Disliked{quote} I don't think he can back test because he has a discretionary element to his method. I fear this will end in tearsIgnored
Disliked{quote} discretionary means trader's intuition. you can test that on a simulator. it's obvious. pick a chart you don't know of and simulate it. you can call it training for the real life.Ignored
Disliked{quote} the whole point of discretionary trading is that a different decision could be made give seemingly similar conditions.Ignored
Disliked{quote} let's test it out. in live trading conditions or in simulated conditions. i prefer simulated.Ignored
Disliked{quote} OK You clearly do not understand what discretionary means. If the trader with no particular rule set can decide one way or another there is no way to test it, if he has a rule set then it is not discretionary it is rules based. It is only possible to back test rigidly defined rules as there is no way of knowing what will be in the traders mind at the time that he is looking at a the chartIgnored
Disliked{quote} no i do get what discretionary means. what i'm saying is that backtesting works also for discretionary also. no need for hard rules. simulated conditions can show if you have a chance or not in live conditions. i'm not interested to know how you decide; i'm interested in knowing what are the results with your method or system. intuition is a method also.Ignored
Disliked{quote} This assertion is such a contradiction in terms that it demonstrates that either you don't understand what "backtesting" is, or you don't know what "discretionary" means; I can't tell which, but either way your statement is deeply misguided.Ignored
DislikedI was always wondering how the most experienced traders are looking on the chart. Today I am almost completely sure, that they often use a bollinger bands. Because I am a self learned programmer and have tested probably thousends of different variations of BB on MT4 so far I would like to share with You my best knowledge about the BB (I think it mitgh be interesting because I haven't found such information around the internet). Let's start then: 1. The best variation of bollinger band is one of the normal type, and You can set it up from almost...Ignored
Disliked{quote} Hi Marecki, I am really interested in your findings about BBands and would appreciate it if you could continue your exposition on its use based on your findings and settings. Best Regards, RIgnored
Disliked{quote} Hi Rapzy. Nice to hear that somebody is interesting in that . I am new to this forum and I do not know yet how to post images, but i'll do my best. First to say my very favourite set up for BB is 35;3. I use Close of the bars, but for 35 bars this is not that much difference, as I use it more like a image of what is happening with the price than strict borders for enter and exit. Why 35 bars? Because this is quite much and not too much for higher timeframes. With around 30 - 50 bars You can see how "live is price change" in relation...Ignored
Disliked{quote} Wao!! Very simple but powerful. I had a quick scan and noticed the bands holds over 97% of the price inside it and what you said concrning the thin bands is really true and also the settings filter out the false breakouts. Good Work. What I don't understand is the statement if a price looks like "attacking" the band, than the move is very fresh and strong. But if it has moved right according to the band, than it is a time for building its position to the direction of inside the band. I will be expecting your further explanations. This...Ignored
Disliked{quote} Hi Rapzy, sorry for my late reply. Take a look at attached image. Though it is h1 I tried to show what exactly I mean when talking about attacking the bands. In my way of trading this information is important and quite sufficient to make profit without much risk. cheers! {image}Ignored