DislikedI know, well the second chance hasnt been blown yet....and even if it does,2 trades is not a big deal. it kind of worries me a bit though wiht its 80% accuracy published.Ignored
How to Correctly BackTest, Collect Data, and Analyze A System 13 replies
How much historical data needed to backtest day trading system 0 replies
Visual backtest result different from non-visual backtest 0 replies
data needed to backtest system 1 reply
How to backtest system with past data? 8 replies
DislikedI know, well the second chance hasnt been blown yet....and even if it does,2 trades is not a big deal. it kind of worries me a bit though wiht its 80% accuracy published.Ignored
DislikedWe gave it two chances this month and it looks like it blew them both.Ignored
DislikedActually if you read earlier posts, there has only been one entry possibility, and see my last posts for thoughts on that.
If you will look back over the backtest data, you will see that indeed some months were losers. Not many, but some. The question is, do you have the patience to wait a whole month (or two even) to see profits with a system? All systems lose. This one appears to have a proven track record. The only thing missing is our patience when we want to make money now, now, now! This should be no news--but if you can't make it through two "blown" trades, then no system will ever work for you, because they will ALL go through runs where two, three, or four losses will happen in a row. The minute you begin to doubt your system, your own confidence diminishes, and no system will ever seem to work for you. This is not a fault of the system--it's a fault with our own fear/greed personalities--we all have them to some extent! Some traders are successful regardless of the system used--meaning that a system does not "blow" trades, we do.
So, basically what I'm saying is, why not demo trade the system (if you're not already), and give it a chance to make profits over several months, instead of just giving it 5 days?Ignored
DislikedAs Kevin has said before, this is meant to *supplement* your trading strategy, not to be a "don't use your brain and blindly buy and sell" strategy.Ignored
DislikedAs for your earlier post advising the use of trend lines, support and resistance lines etc.- this is a mechanical system.
If you want to throw in trendlines and S/R then it is no longer a system, it is a fly-by-the-seat-of-your-pants discretionary method.
I can take you back to every one of his 80% wins and show you a reason not to enter those trades, because of S/R or trendlines or triangles or bad candle formations or whatever.
That is not the way the system was presented.Ignored
DislikedWell nobody is talking about blindly buying and selling.......I am following rules of this system. second of all, about not using the brain, you are not supposed to make discretionary decisions when trading mechanical system.Ignored