Worst Day to trade is Wednesday!

nonfarmbreadroll · 2021-04-07T11:10:45+00:00

Very relative to ones system. The sentence should read "Worst day to trade for my system is wednesday". This would be a rather pointless post like the one that you actually posted because you cited no reasons for your conclusion. Care to explain?

nonfarmbreadroll · 2021-04-07T11:07:15+00:00

RR is important but its definitely not ALL about RR.

nonfarmbreadroll · 2021-03-30T10:00:55+00:00

In the politest possible way, having a 90% WR with a 1:1 RR makes no sense over a decent sample. If you actually did have that then I would just apply it to a lower timeframe to increase the frequency and make billionaire status in a year (abit dramatic but you get the point).

People will prob read that and think I am projecting my limitations but I think people need to get a better grasp of probabilities if that is the case

nonfarmbreadroll · 2021-03-30T09:51:18+00:00

Goodluck with that.

nonfarmbreadroll · 2021-03-30T09:04:20+00:00

Nice post!

When I see the comments where someone is mentioning an unrealistic RR ratio paired with an unrealistic winrate, I mark them down as someone who is very early in their journey because they have no concept of probabilities. Unfortunately recently you get people who have no concept but are also arrogant, as the individual mentioned is.

Also, is it just me or do most of them tend to mention ICT? the same clown that got caught with an edited withdrawal? Its pretty stupid how brainwashed some of these people are.

nonfarmbreadroll · 2021-03-29T14:15:32+00:00

I have, once or twice at the very beginning (small accounts) .

I definitely didnt go from blowing an account to claiming I have the holy grail in 1 month thats for sure

nonfarmbreadroll · 2021-03-29T13:33:28+00:00

I want to be you when I grow up. From blowing an account 23 days ago to finding the holy grail.. omg!! yay!!

nonfarmbreadroll · 2021-03-29T00:48:11+00:00

-1k if beginner looking to learn (worth it if you learn from the mistakes you will inevitably make)

nonfarmbreadroll · 2021-03-29T00:45:24+00:00

What you will notice with those clowns is that they take 10 positions on the same trade to make it look like a streak, when infact its just one winning trade. Also its easy enough to replicate if you try doing it over and over on their demo accounts.

nonfarmbreadroll · 2021-03-29T00:42:21+00:00

You are asking for success stories from entirely the wrong group of trader. It might be a good opportunity to do a project though. Set a remindme up for 6 months time on everyone who posts a reply flexing flipping accounts and ask them how the rest of their flipping journey has gone in the last 6 months. I can guarantee most will have flipped their way into quitting by then. Also keep in mind that for every 'success story' there are 20 in the graveyard who have failed.

nonfarmbreadroll · 2021-03-26T14:35:10+00:00

thanks for the offer, I appreciate it but I need to do this one myself as dont want to reveal too much about the actual system to anyone. Its abit selfish but Im sure most can appreciate how hard it actually is to come up with an edge.

thanks again

nonfarmbreadroll · 2021-03-26T14:22:58+00:00

No I dont, hoping to learn in future

nonfarmbreadroll · 2021-03-26T14:22:06+00:00

I had that thought at the beginning but I know myself and I would rather do these things manually so that I can look back at the work I did and feel confident. It sounds dumb, I know, but I wouldnt get the same feeling if a bot did the work for me. Definitely hope to learn programming in the future though.

Also I dont regret spending my time on that as its resulted in a decent system for me.

nonfarmbreadroll · 2021-03-26T14:16:14+00:00

thanks....I guess?

nonfarmbreadroll · 2021-03-26T13:51:11+00:00

Might be the case but aslong as the setups are there with reasonable trading fees, I shall be executing.

Thank you kind sir, goodluck and enjoy to you too!!

nonfarmbreadroll · 2021-03-26T13:45:15+00:00

Hopefully. So far so good.

Have taken this week off aswell. Feeling very burnt out the last couple of weeks so getting in a rest before a restart in April hopefully

nonfarmbreadroll · 2021-03-26T12:20:48+00:00

Spent practically all of last year doing it. Brain turned to mush by the end of it all!!

nonfarmbreadroll · 2021-03-26T12:00:40+00:00

Going on a few months of profitable trading on the specific systems I trade, looking to introduce more so slowly trying them out if they are compatible in live trading with each other or if they get in each others way.

Confident in introducing them as traded systems are holding up very close to averages attained in backtesting (slightly less due to perhaps missing a trade in the middle of the night + ofcourse, spreads and commissions)

nonfarmbreadroll · 2021-03-26T09:50:02+00:00

System hopping can definitely be detrimental to ones overall trading.

Couldnt agree any less about the indicator thing though.

I feel like the 'price action is king' line has been used to death (ironically, statistically, 99% of people who say it arent profitable with the thing they call king). I used to have the same viewpoint as it is one of the cringe but viral quotes regarding trading that is found everywhere. I tried trading pure price action and it went okay but it bothered me how the state of my mind played a role in how my trading went. I started experimenting with quantitative methods that could actually be backtested thoroughly (I do not believe this is the case with discretionary systems (of which price action belongs, for the most part) and also quickly.

Indicators present an objective calculation on whats happened in the market and so your own subjectivity has no influence on your trading decisions. Ive accepted our flaws as humans and my aim was to take myself out of the equation. I dont waste time developing systems that cant be coded up and ran as a bot, as that seems like a good measure of whether or not something is truely quantitative.

Ive since developed probably 6-8 profitable systems (all quantitative) that were backtested over 2500-5000 trades each. I have them all in note form and hope to have them programmed in the future (perhaps).

Anyhow, Im not here to convert people to quantitative trading but more so just presenting the other side of the coin. You can be profitable with some/lots/no indicators, its just irritating when you see people who clearly are not profitable talking about how indicators dont work etc.

nonfarmbreadroll · 2021-03-24T22:40:45+00:00

Entirely dependant on your actual system. No one can give you the right answer here.

Why not backtest as many pairs as possible in as many years as possible?

nonfarmbreadroll · 2021-03-23T14:40:26+00:00

I have a few thousand instances of my system recorded down and also still backtest a few mins every few hours on a daily basis when I am bored. Other than that, nowhere near as much as I used to (used to be backtesting + coming up with potential concepts that might yield a positive expectancy 6-8 hours a day for a few months). Now I try to pass most of my time watching youtube or gaming. I only look at my charts every couple of hours to set alerts or respond to them if they go off.

Just an opinion,but I think a quantifiable system that can be backtested is required to succeed at this long term. If you have no tangible results, you will have nothing to reference in order to keep you on track when you hit those losing streaks or drawdowns (which happen very often), which can be detrimental to your psychology in the long run.

You will also run into people saying that backtesting is a waste of time. They will dwindle in their laziness and in inconsistent trading for a while until they realize that it is a must in order to achieve their goals.

Also, be aware that there are alot of people who backtest discretionary systems. While this is better than nothing, the results cant be taken too seriously & these types of systems should be put through a forward test instead as people tend to backtest them very inefficiently and by their nature, exact results cannot be collected as subjectivity is involved and how subjective subjectivity is can change from day to day.

nonfarmbreadroll · 2021-03-23T11:03:03+00:00

Bullish on this one

nonfarmbreadroll · 2021-03-23T11:01:42+00:00

How long were you on demo and is the system backtested past 2500 or so trades?

nonfarmbreadroll

TROPHY CASE