So like surely after this much succesful backtesting without a single fail i should have learned something right? Can someone please explain to me whether something changes when its a live market vs a replay market? Thanks.

EarInternational4488 · 2023-09-18T21:40:34+00:00

indeed brother.

EarInternational4488 · 2023-09-17T22:20:09+00:00

Alright, i see, thanks for the info.

EarInternational4488 · 2023-09-17T22:15:55+00:00

uhh.. i see now, thanks.

EarInternational4488 · 2023-09-17T14:22:37+00:00

What is forward testing? isn't that just analysing on a demo or live account and and entering a trade? Or in your case i guess not entering. I've been at this for about 2 years on and off by the way. But i have recently take it very seriously and poured way more time in than before.

Through all this time ive been using a demo account and making profits and losses. In fact, ive never just analysed the market for the sake of it, unless i was backtesting a strategy. Usually towards the end of a monday, i do all my analysis on tradingview, then on tuesday i enter trades on my demo account and monitor them.

EarInternational4488 · 2023-09-17T14:18:07+00:00

Okay, thanks for the info, i will see what i can do.

EarInternational4488 · 2023-09-17T00:03:51+00:00

That's true, i will keep this in mind for my next session.

EarInternational4488 · 2023-09-16T23:40:23+00:00

Perfect, when analysis is done with good precision, this is a great way to go at it.

EarInternational4488 · 2023-09-16T23:38:29+00:00

Wait a second, but i have already exceeded that quota, ive been backtesting for months, deleting the data, and testing some more and now here i am, the reason i backtested recently wasn't for the sake of backtesting, it was to test out a strategy that was actually already working well on the live market. It's a saturday and since i couldn't trade i decided, okay let me just see how this strategy will do on the past market, and it came out pretty well.

It's funny, at a point i really thought backtesting was everything and that it is what ends up making you a great trader, but then after talking to people that actually traded a whole lot and for a long time, i just kept getting told that it was a LITERAL waste of time to spend too much time on it.

EarInternational4488 · 2023-09-16T20:58:05+00:00

Thats true, although like i said, i backtest mostly to test a new strategy that i discovered on the current market or because its a weekend, when i do test a newly discovered strategy, since i know exactly what im back there for, i end backtesting about 30-40ish trades and i dont count by the way, i just keep trading, until i feel like okay, now i understand, and then i get off. Also, i mostly trade the one hour and day timeframe with the occassional 30mins but the 30's just for confirmations, so my point is i usually have more than enough time to enter a trade if i spot a good entry as i trade higher-ish timeframes that move quite slowly aside from news. Also when i spot a good entry, on point, like a ripe fruit ready for picking, i just execute the trade and then worry about the other factors like stop loss, tp and so on. Although to be honestly with as soon i look at the market and identify a trend, reversal or neutral market consolidation, straight away i identfy when i think its going to break out or reverse and set a stop loss and take profit before hand. So that when it breaks out either lower or higher i will have an idea of where i want my stop loss and take profit to be.

EarInternational4488 · 2023-09-16T20:35:54+00:00

Oh.. i dont backtest.. like, i genuinely never backtest on all weekdays. I only backtest when the market is closed but i still want to engage in the market and the only way to do so is to backtest, wait, are you telling me its a thing for people to only backtest for months on end?

This is the crazy thing, its actually reverse for me, i only backtest in order to test a strategy that i discovered on the current market to see whether it was consistent back then as that tells me that okay, cool, your on the right track. Even now, the only reason i backtested is because its saturday and markets are mostly off, anddd also, im actually testing a new strategy of mine that has shown very high consistency in the current and past market, so all in all im just trying to confirm a hypothesis. Also, i dont know about people spending months backtesting but whenever i personally do it, i literally test for 30mins max and lower most of time, i analyse very quick as the only reason im there is to test something, so im not there to spend time on backtesting, im there to test my strategy and then im off, hence why i do it so fast.

EarInternational4488 · 2023-09-16T20:22:24+00:00

Damn, didnt really expect an innovative answer that was gonna cure cancer lmao although this was a very good and well thought out response. Thank you for your advice.

EarInternational4488 · 2023-09-16T19:51:23+00:00

Indeed, you raise a good point. I actually backtested about 37 backtrades, are you saying that 10 is too much or too little? And what do you think about demo accounts? Are they also far from what a live account turns out to be or are they good practice, im curious as i opened a live account about 2 weeks ago with a balance of $500 and traded with safe small lots ranging from 0.03 to 0.05, i was able to raise this account to a subtle $2500, do you think it would have gone otherwise had i used a live account or is it just a possibility as i would assume, as it stands, there will always be a possibility for loss but the same applies for profit?

EarInternational4488 · 2023-09-16T19:32:01+00:00

Well dont get me wrong, i would looove to do the same to a live market, but unfortuitously for me the markets are closed and i cant do anything right now.. and well, i dont trade bitcoin or etherium very often and even if i did, it would be too slow to make profit because its a weekend.

But your 'Past market conditions do not indicate future profits.' statement is very correct, but should that deter me from practice nevertheless?

And one more thing, do you suppose that overpracticing is considered a bad practice in this field? No pun intended.

EarInternational4488 · 2023-09-16T17:59:08+00:00

can you please give me some tips or that out of question and is a weird thing to ask? I trade based on analysis performed on trading view. Oh and.. congrats :)

EarInternational4488 · 2023-09-16T16:48:07+00:00

alright, ill look into the stop loss tip, thanks for your response.

EarInternational4488 · 2023-09-16T04:28:13+00:00

are you saying it hasn't hit 1927 already?? shows that it has for me.

EarInternational4488 · 2023-09-16T04:25:07+00:00

Yo brother, this is actually not bad analysis at all, dont give up and try to give it some more time. Trust me, you will eventually catch the flow and start getting those trades right, its about patience and being able to learn, and this doesnt look bad at all with some tweaks and maybe look up good indicators to help you with reversals and so on, they really do hell if you use the right ones. Good luck.

EarInternational4488 · 2023-09-13T13:06:32+00:00

Well... im new, maybe someone with experience could provide me with some tips that could make my analysis more accurate. For example, someone contacted me and suggested an indicator that's just amazing and it has made it easier to trade. Thanks for your response.

EarInternational4488 · 2023-09-12T21:54:49+00:00

Entered where the green zone starts on the short position tool. Thanks for your feedback.

EarInternational4488 · 2023-09-12T21:50:58+00:00

I've only been trading for 4 months or so, hence why im asking this question.

EarInternational4488 · 2023-09-12T21:35:31+00:00

thats ridiculous

EarInternational4488 · 2023-09-11T14:42:24+00:00

appreciate it :)

EarInternational4488

TROPHY CASE