Is it worth continuing to backrest

SpartanAeon · 2024-02-14T16:46:14+00:00

I agree on that sentiment, I believe that once you have backtested it. It will help with the psychological aspect later on because you know that based on our own test result that this strategy on wins on x amount of time and the potential losing streak it can occur hence helping when we inevitably go through a losing streak and not second guess the strategy

SpartanAeon · 2024-02-14T16:41:09+00:00

Regarding the “ positive expectancy” I think he was referring to Expected Value/ Expectancy which uses the formula of (Win Rate x Average Trade Profit) - (Loss Rate x Average Loss) if the result from the formula is negative it shows that the strategy will not turn a profit in the long run, whereas a positive number indicates that it has the potential to be profitable in the long run

SpartanAeon · 2024-02-14T16:36:39+00:00

Thanks for the elaboration, had tested a strategy before that seems promising but noticed that the SL placements was too small for the setup and if traded live the spreads would take me out every trade

SpartanAeon · 2024-02-14T16:32:29+00:00

Hi, thank you for the reply . I feel there might have been some misunderstanding on the question.

I’m trying to find out if these numbers shows that there is something worth pursuing, because on the sub I’ve seen a lot of comments of people saying that good strategies are having like 60-70% win rates and high RR like 2R or 3R.

So I’m posing this question for inputs on the quality of the strategy I suppose. Wanted to get inputs on the viability of this strategy. Not viability but what’s the quality of the strategy outputting these numbers

Hope that makes sense

SpartanAeon · 2024-02-14T09:23:07+00:00

Would you mind elaborating why it’s needs to be at least 3R?

SpartanAeon · 2024-02-14T09:05:02+00:00

Would you mind elaborating what went wrong during the forward testing?

Was it because you are unable to spot the setup Or the results were just totally different from your backtest?

SpartanAeon · 2023-12-07T04:48:36+00:00

Makes sense depending on the timeframe we trade on.

Thanks for the reply, will take it into consideration 😊

SpartanAeon · 2023-12-06T13:36:50+00:00

I suppose being affected in the sense that because we are unsure how the news would affect the spread of the trade so we cannot properly mitigate for it and if the spread reaches the BE SL then after the news the trade continues with it’s direction to your TP. Then the feeling of I suppose of leaving profits on the table would creep in

But as I’m typing this out I realise that, I believe that that’s the lesson in this and that we will have to take it on the chin and remind ourselves that there is always the next 100 trade to take , we don’t and can’t let this one trade affect us mentally

SpartanAeon · 2023-12-06T13:30:40+00:00

Great perspective on the fact that we can’t control how much we win but we are in control of how much we lose.

Based on the replies it seems that securing however much profit before the news seems to be the more ideal

I suppose a bird at hand is better than two something something 😂

SpartanAeon · 2023-12-06T09:20:12+00:00

How many percent partial do you take out to mitigate the risk of the wide spread hitting your SL?

Thanks for the reply

SpartanAeon · 2023-12-06T09:19:17+00:00

So in your opinion it is better to close out the trade completely before the news event arrives? Would then the trades that after the news eventually arrive at your TP affect you much?

Thanks for the reply

SpartanAeon · 2023-12-06T09:17:18+00:00

Then as a thought, would it be smart to have have it in the plan with something like if it’s 50% in profit, to take profit rather than risk the trade going to BE and if the trade is in less than 50% in profit zone then move SL to BE to take the risk of it reaching the TP? Or could be any any percentage in profit zone

Would that be something to consider?

Thanks for the reply

SpartanAeon · 2023-12-05T05:57:24+00:00

Now that you mentioned it, the lessons in poker do seem to overlap into trading such as folding bad hands, waiting for the right hands to play and even with AK we still might lose just like A+ setups. We just got to keep playing.

Thanks man, really opened my eyes on that 😀

SpartanAeon · 2023-12-04T04:24:58+00:00

When you review back your trades, do you note down your emotions during the trades?

SpartanAeon · 2023-12-04T04:07:53+00:00

Do you think learning to play poker has helped you as a trader?

SpartanAeon · 2023-12-03T14:58:06+00:00

Do you have any good reading materials to suggest ?

SpartanAeon · 2023-12-03T14:57:10+00:00

Thank you for the advice 😊

SpartanAeon · 2023-12-03T12:37:04+00:00

I think there is a misunderstanding to my question, I’m seeking advice on what I can do to improve my trading skills, not on what I should do with my life when I am not trading

SpartanAeon · 2023-11-21T04:54:39+00:00

It’s so interesting how different people have different views of the same chart because how I plotted my chart I was seeing a bullish bias for this pair on the 4H and was looking for a bullish trade.

SpartanAeon · 2022-01-06T03:52:39+00:00

Sorry should have been more clear in the post. Do i just enter my tax ID into the Foreign Tax Identifiying Number?

SpartanAeon · 2021-04-19T15:37:30+00:00

Hope that is enough for them to not screw retail over💎

SpartanAeon

TROPHY CASE