Stop searching for the 'Holy Grail', work on yourself! | Page 10 | Forex Factory

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Stop searching for the 'Holy Grail', work on yourself!

  • #181
  • Jun 13, 2019 8:23pm Jun 13, 2019 8:23pm
Quoting MrPresident
{quote} back testing doesn't work since what happens in the past does not indicate the future
Looks like you haven't formed a system yourself in trading before haven't ya?

The main point of back testing is to verify that your system has an edge
over the market no matter the conditions, test the efficiency and verify your hypothesis.

What happens in the past does not indicate the future = Market Condition
What happens in the past can happen in the future = Your Trading System, its the only thing you have control of, cheers.
  • #182
  • Jun 13, 2019 9:52pm Jun 13, 2019 9:52pm
Quoting KeenPips
Let's focus on the real issue being emphasized. It's not about back-testing but about identifying our mistakes and working at improving our skills. Trade safe. KP {quote}
Have you been successful trying to predict the market after back testing a strategy? probably not
Don't Worry Be Happy
  • #183
  • Jun 13, 2019 9:54pm Jun 13, 2019 9:54pm
Quoting TradeMinim
{quote} Looks like you haven't formed a system yourself in trading before haven't ya? The main point of back testing is to verify that your system has an edge over the market no matter the conditions, test the efficiency and verify your hypothesis. What happens in the past does not indicate the future = Market Condition What happens in the past can happen in the future = Your Trading System, its the only thing you have control of, cheers.
Then by your assumption, it should be easy to find a strategy that works through back testing and apply it to the present to become wealthy quickly but that is not the case
Don't Worry Be Happy
  • #184
  • Jun 13, 2019 10:15pm Jun 13, 2019 10:15pm
Quoting MrPresident
{quote} Have you been successful trying to predict the market after back testing a strategy? probably not
Man, by your replies I can see that you are a complete newbie , it's okay i've been through that stage too.

We don't "Predict" the market, don't try to play god in this field, we only have control over our system and our actions.
  • #185
  • Jun 13, 2019 10:17pm Jun 13, 2019 10:17pm
Quoting MrPresident
{quote} Then by your assumption, it should be easy to find a strategy that works through back testing and apply it to the present to become wealthy quickly but that is not the case
No it's not easy, clicking buy and sell is easy, finding a strategy that works is easy. So what is Hard?

Your efficiency in EXECUTING, can you make sure you FOLLOW strictly your rules every single time, in draw downs or in losing streaks, this is where most newbies fail.
  • #186
  • Jun 14, 2019 4:20am Jun 14, 2019 4:20am
Please focus on the essence of this thread. Otherwise I will dump your subsequent posts.

KP

Quoting MrPresident
{quote} Have you been successful trying to predict the market after back testing a strategy? probably not
Do your homework, follow the footprints of smart money
  • #187
  • Jun 14, 2019 4:23am Jun 14, 2019 4:23am
Hi mate! It's better to stop arguing with somebody who cannot follow the simple rules of the thread they are posting on or who is only interested in his/her hidden agenda.

Trade safe.

KP

Quoting TradeMinim
{quote} No it's not easy, clicking buy and sell is easy, finding a strategy that works is easy. So what is Hard? Your efficiency in EXECUTING, can you make sure you FOLLOW strictly your rules every single time, in draw downs or in losing streaks, this is where most newbies fail.
Do your homework, follow the footprints of smart money
  • #188
  • Jun 14, 2019 5:09am Jun 14, 2019 5:09am
How do we avoid the noises in the markets? By knowing and understanding what we are looking for and keep focusing on the bigger picture. Interestingly, as it is in the markets so also it is in FF or any trading forum. We should not allow the noises around us, including the pettiness and insults of certain people, to distract us from the purpose for which we choose to be members of the forum.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #189
  • Jun 14, 2019 5:15am Jun 14, 2019 5:15am
Quoting KeenPips
Hi mate! It's better to stop arguing with somebody who cannot follow the simple rules of the thread they are posting on or who is only interested in his/her hidden agenda. Trade safe. KP {quote}
I don’t have any hidden agenda but maybe you do. Maybe you want to market something here for people to buy.

i am telling you the truth about forex trading and that it is not possible to predict the market by back testing a strategy. If it was possible, then you would be rich and drive a Bugatti.
Don't Worry Be Happy
  • #190
  • Jun 14, 2019 5:24am Jun 14, 2019 5:24am
Quoting mistakesr
I've been trading since 2013 and nearly 6 years later I've come to a few conclusions, system hopping is detrimental, the holy grail is inside our own heads and keep it simple stupid. I think many of us over complicate things in the early days.
Really?
Trade to trade well
  • #191
  • Jun 14, 2019 5:26am Jun 14, 2019 5:26am
Nothing personal mate. Just read post #1 and post by the rules.

Trade safe.

KP

Quoting MrPresident
{quote} I don’t have any hidden agenda but maybe you do. Maybe you want to market something here for people to buy. i am telling you the truth about forex trading and that it is not possible to predict the market by back testing a strategy. If it was possible, then you would be rich and drive a Bugatti.
Do your homework, follow the footprints of smart money
  • #192
  • Jun 14, 2019 5:28am Jun 14, 2019 5:28am
Yes mate. If you think otherwise, tell us.

KP

Quoting Zillionaire
{quote} Really?
Do your homework, follow the footprints of smart money
  • #193
  • Jun 14, 2019 6:21pm Jun 14, 2019 6:21pm
Quoting Zillionaire
{quote} Really?
Really.
Ardua Ad Astra Per
  • #194
  • Jun 14, 2019 11:00pm Jun 14, 2019 11:00pm
Quoting Zillionaire
{quote} Really?
Yeah, to expand on it, keeping it simple stupid means = it's SIMPLE enough for you to follow the rules, keeping your efficiency in executing high.
Find a system, back test it, tweak it, forward test, then fund your account and follow the rules.
  • #195
  • Jun 17, 2019 5:08am Jun 17, 2019 5:08am
Agreed with you mate. System hopping is like hindering one's trading future without knowing it. You advance your trading success by sticking with a few functional strategies and make them work for you.

KP

Quoting mistakesr
{quote} Really.
Do your homework, follow the footprints of smart money
  • #196
  • Jun 17, 2019 5:22am Jun 17, 2019 5:22am
Quoting KeenPips
Agreed with you mate. System hopping is like hindering one's trading future without knowing it. You advance your trading success by sticking with a few functional strategies and make them work for you. KP {quote}
Many thanks
Trade to trade well
  • #197
  • Jun 17, 2019 5:27am Jun 17, 2019 5:27am
It's a pleasure mate. I feel encouraged by your kind sentiment.

Trade safe and prosper.

KP

Quoting Zillionaire
{quote} Many thanks
Do your homework, follow the footprints of smart money
  • #198
  • Jun 24, 2019 2:30am Jun 24, 2019 2:30am
Below is a video on price action, offering a few tips. What do you think of it? As always, please note that I have no financial interest in the presenter neither am I presenting him as a 'guru' to follow.

Trade safe.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #199
  • Jun 24, 2019 3:09am Jun 24, 2019 3:09am
Any serious trader will advance their skill by critically watching any trading video rather than just going along with what the presenter is saying. Personally, this is what I do. I tend to critique much of the trading videos I watch particularly vis-a-vis my trading style and approach. I will post on my sentiment about the video later.

KP

Quoting KeenPips
Below is a video on price action, offering a few tips. What do you think of it?....
Do your homework, follow the footprints of smart money
  • #200
  • Jun 24, 2019 3:59am Jun 24, 2019 3:59am
There are some useful tips, but largely basic: volatility, liquidity and momentum are givens for any serious price action trader. However, imo, much of the mistakes he highlighted are what can be seen as 'amateur mistakes.' If a trader bases their trading on a lower time frame without checking higher time frames, they will have problems regarding the reaction zones (e.g. S/R zones) and sustainable momentum. You can minimize or overcome much of the mistakes by using a top-down approach, e.g. top-down analysis. If this is combined with structure-based trading and waiting for price action confirmation at reaction zones, there will be far more winning trades than losses. Besides, any trader who depends on rumours or other people's opinions would be undermining their future success as a trader.

Trade safe and prosper.

KP

Quoting KeenPips
Below is a video on price action, offering a few tips. What do you think of it?....
Do your homework, follow the footprints of smart money
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