WARNING: This thread contains discussion about something you might consider as stupid. You don't have to read it if you don't want to. And you really don't have to post if you don't want to. It looks stupid to do something you consider as stupid.
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This is a continuation of my thread. Previously we discussed about the non-randomness movement of price. Now I want to discuss about one of the most famous disclaimer in the forex world:
Past performance is no guarantee of future results.
This is basically saying historical data doesn't have its value because the system might have done great in the past, but might fail in the future. Maybe, if you are using technical system. Maybe not, if you trade with understanding how the big boys trade.
On one hand:
Due to the ever changing nature of the market, the past is the past. There is nothing we can learn from it. Curve fitting past data into current trading won't work. There is no pattern that is consistent enough for us to exploit. Live price is everything. Past price is nothing.
On the other hand:
Due to the cyclical nature of the forex market, historical data gives tremendous value for the study of this cycle. It is essentially the footprint of the big boys. Market pattern, not candlestick pattern, or any other kind of pattern, happens daily. There is absolutely nothing new in the market. It's only a variation of a theme. Something we can all exploit consistently.
Does historical data have any value for live trading?
As usual I'll talk more after you share your opinion.
***
This is a continuation of my thread. Previously we discussed about the non-randomness movement of price. Now I want to discuss about one of the most famous disclaimer in the forex world:
Past performance is no guarantee of future results.
This is basically saying historical data doesn't have its value because the system might have done great in the past, but might fail in the future. Maybe, if you are using technical system. Maybe not, if you trade with understanding how the big boys trade.
On one hand:
Due to the ever changing nature of the market, the past is the past. There is nothing we can learn from it. Curve fitting past data into current trading won't work. There is no pattern that is consistent enough for us to exploit. Live price is everything. Past price is nothing.
On the other hand:
Due to the cyclical nature of the forex market, historical data gives tremendous value for the study of this cycle. It is essentially the footprint of the big boys. Market pattern, not candlestick pattern, or any other kind of pattern, happens daily. There is absolutely nothing new in the market. It's only a variation of a theme. Something we can all exploit consistently.
Does historical data have any value for live trading?
As usual I'll talk more after you share your opinion.