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Have to agree with you 100% on the backtesting Betatrader. I have used it many times to test out different strategies in my own trading over time and I believe it's a very essential tool in the trading process.
When I say backtesting, I'm not talking about automatic trading with robots. A lot of people, think about EA and automated system with the "backtesting" concept.
I was talking about backtesting your trading system manually (I trade 100% manually). With a tool like Forextester for example (http://www.forextester.com/). You can use any pairs during any periods. You start the soft and you hit the spacebar to display the next candle. And you trade manually. You put SELL/BUY orders with SL and TP. Like that you can know if your trading system is profitable over the long run. It concentrates your experience. It's like you traded since 20 years. It's a really fastidious and long process. But be sure that it's really efficient. To become profitable : stay at your home and backtest during 6 months, every day. At the end, you'll see the Markets differently. It's not magical, it's just experience concentration.
Of course, I did it on the majority of pairs over decades (and all the best traders I know did it too). And I know that my system is profitable (I'm not the only trader using this system...) and I'm confident.
In fact, how can you be sure that your trading system is profitable if you don't test it at least on the last 10 years ? Some cycle on the financial markets can be very long. And some strategies can lose in some periods. So you have to test your system over the time. The manual backtesting is one tool to do it.
The factors I take in account in my trading style are described on my website, in the link available on the first post.
Thanks for the thorough and precise answer Will look into ForexTester over the next 6 months
I will have a look to this forextester, looks interesting...
I like the fact you keep it simple. If you keep this about 1:1 RR (TP/SL) and 80% winning rate, it should be good..
I am particularly admirative when I compare your max DD and average monthly...
Thank you and enjoy this day off, then
Hi Betatrader,
Do you have plans to offer your signal through VIP subscription or MAM?
Hi Taruh,
To be honest, I don't know exactly what is the VIP subscription. As I understood, it looks like it's a free subscription for the followers and Forexsignals make money on the volume of trades. If it's the case, as explained by Big River Man, I don't think it's interesting for them relating to my low trade frequency.
I don't plan to offer my signal through MAM at the moment. If several people are interested, maybe I will but for now, it's not on the agenda.
Hi Betatrader your system looks great. I have looked at the charts you post, what are the two moving averages that you like to use. Thanks.
My EMAs on my Daily chart :
- Yellow = 10 EMA
- Blue = 20 EMA
On my H4 chart :
- Yellow = 40 EMA (It matches almost the Daily 10 EMA)
- Blue = 110 EMA (It matches almost the Daily 20 EMA)
For information, I use EMAs on my chart but it's just to monitor the price, it's an extra information. I don't use it to make a trading decision but only to see where the price can go and can bounce.
It can help to guess where the price could go and its state. If the EMAs are really messy, I don't even look for a trade opportunity...
Thanks for your answers I see first post "(except for major news like NFP or currency rates modification)". My guess is that you do not enter new orders and close open orders at that time?..looks good. When is the right time to join, now you have an open order Betatrader? nc!
Last edited by nc!; 08-09-2015, 06:30 PM.
Reason: Included one more question
Thanks for your answers I see first post "(except for major news like NFP or currency rates modification)". My guess is that you do not enter new orders and close open orders at that time?..looks good. When is the right time to join, now you have an open order Betatrader? nc!
You're welcome. You are right. When the NFP occurs (like the last week), I avoid to take setups the day before (Thursday). In fact, there are almost never setups the day before because the price tends to consolidate these days (day before major news) before breaking out, as you can see on the major pairs last week (inside candles on USDJPY and NZDUSD and pseudo-inside candles on EURUSD and AUDUSD...).
I have often an open order so you can join when you want :-)
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