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How & Why I do backtesting in trading Hello everyone: Here to do a quick educational video on how I do backtesting in trading. I will utilize tradingview’s replay function and go over briefly on how I use it. I will also explain the benefits of doing backtesting. How it will strengthen a trader’s mindset and analysis. Key Concept on Backtesting: -Doesn't matter what trading strategies/setup/style you use, you need to backtest it so it becomes second nature to you when you are doing your analysis on the market. Simply watching your mentor’s screenshot and videos are not gonna be enough. Get hands on, do your analysis on past prices and see if they play out. How many times win and lose over the same setup on the same pair? -When you see how your strategies played out in the past, the easier it will be for you to identify them. Looking for a setup should be a simple task once you are familiar with your strategies. It should not take hours to do so. -Your mind is “programmed” now into finding your strategies on the current market condition, regardless the other “noise." Once you train your mind to understand your strategies will work, then you will simply filter out random things you hear and see. They won't bother you anymore. -The more you see your strategies play out, the more confidence you become in your trading analysis. Trading is a mind game. Master your mind, master the game. Understand that your trading success depends on you and you only. When you are confident in your trading plan and strategies, you simply will accelerate in your trading journey. Feel free to comment and ask questions, Thank you.
OANDA:XAGUSDEducation
by jojofang0901
2
Why I decided to change my trading style and method after years Why I decided to change my trading style and method after years: First of all, I am not here to bash and talk negative on other traders who are consistent traders who do use these methods to their success. I am sharing my on personal journey and opinions, based on past experiences and past journal/history. By no mean I am saying my current style or strategies are better. I am creating this post for educational purpose only, no offense/criticize is done here to anymore. 1. I actually used to trade with S/R, supply/demand zone, and small number of indicators (MACD, EMA, RSI...etc), you can look back at my tradingview post years ago. 2. I have been somewhat consistent with those strategies and methods, and do generate profits within the years that I have adapted those type of strategies. 3. The time when I decided not to implement those methods anymore, is because when I back test and look back at my trading journals and history, I find out ways that I could improve my trading potential. 4. I realized many of these S/R, indicators are actually acting as an invisible barrier for me when I trade. 5. Many of my trades in the past have been short lived due to me sticking to my trading plan and exit a trade when the price hits a certain "criteria" such as 50 EMA, some S/R zone, or fibs level...etc.. 6. While its good to follow and stick to my trading plan and risk management, but when I do self reviews on past trades, I begin to find out there is a lot of profit I am leaving on the table. Or, poor trade management due to similar issues. 7. I begin to do in depth research on these topics and come to my personal conclusion. 8. The true is, I dont need any of those indicators and S/R level/zones on my chart. Simply remove all of them and see how the price is on a raw level. 9. I fully understand when the price is in its impulsive phrase, none of these indicators or levels can "resist" or "support" the price. The price simply breaks them or "impulse" through them. When the price is in its corrective phrase, this is when those levels or indicators work since price is in a correction nature and allowing those levels or indicators to "catch up" to the price. 10. When I dig deeper and more research and analysis, I begin to see the market on a totally different level. I realized how the market moves, and why it moves. 11. There is a saying, "Dont just believe what the others are telling you", or "Try it yourself before saying it out loud". I certainly put in time and effort into this and have done substantial amount of work to be confidence to express here. I hope this brief post is helpful for those traders who are still trying to identify how to trade and what to adapt in their trading plan. I welcome any positive/constructive comments, feedback, suggestions or opinions. Thank you
BITSTAMP:BTCUSDEducation
by jojofang0901
3
How you NOT use Fibonacci! Support&Resistance for beginners!Hey everyone, welcome to my second Video about fibonacci and how you should and should not use retracement- and extension levels. :-) There is way more to say about resistance and support-levels. Since I only got 10 mins. for a video I can just talk about small pieces and highly recommend you to check more about this topic. I just wanted to give you an example how the market works and how it respects resistance and support-levels. There are more Traders than those who safe profit to cause resistance or support-zones. Stop-Loss-Levels gets triggered, Take-profit, fundamentals, those who are flat and wait for signals and so on. If you wanna see more about that topic just use the comment section and tell me more about your wishes. :-) You can also PM me! Peace and good trades Irasor Trading2ez Wanna see more? Don`t forget to follow me. :-) Need education or more signals? PM me. :-)
COINBASE:BTCUSDEducation
by Trading2ez
15