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New trader having some pips

mariav
Oct 03 2014 at 11:27
115 ieraksti
So tell us how are you doing, Arthur? Hope you doing great with your trading 😳

Arthur Libeert (ArthurLibeert)
Oct 08 2014 at 16:38
9 ieraksti
I have not made my switch already because of beginning of university. But i will soon ! Thank you !

Francisco Gouveia (fxgouveia)
Oct 11 2014 at 07:43
4 ieraksti
Hi. It's good you are working pretty good in the DEMO account. But please I suggest you to keep working on the demo. There are sites providing courses online, but I don't know whether I can mention it here. If you don't mind we can keep in touch via email. My email is fxgouveia@gmail.com.

Make money for life and make forex part of my life
savantfx
Oct 11 2014 at 10:31
101 ieraksti
Develop a system and backtest it. Do not go live before that. Prove to yourself you can do it. If you don't know you can do it then you are not going to succeed. Believing and knowing is two very different thing.

Arthur Libeert (ArthurLibeert)
Oct 13 2014 at 06:32
9 ieraksti
The problem is that my system is not based on any indicators, i use price action so it's pretty hard to backtest it. And Fxgouveia, i want to keep in touch, i will send u an email.

savantfx
Oct 13 2014 at 06:57
101 ieraksti
If it can't be backtested then it is not a system. It is wishful thinking. My words probably sounded very harsh but you will know about this fact later on when you fail/succeed. I don't use indicators but i do have sets of rules. Make your rules.

Bob LLewellyn (ForexAssistant)
Oct 14 2014 at 16:26
465 ieraksti
savantfx posted:
If it can't be backtested then it is not a system. It is wishful thinking.


No, that's not true. There are a number of good robots that allow for user intervention that can not be back-tested. In addition to that, back-tests tend to be unreliable in long runs because there is always missing data that you need to work from. It is much better to use forward testing on a demo account.

Another thing that new traders like to say but doesn't make much sense is that you shouldn't use demo accounts to learn because you don't have enough emotion when trading a demo. That is just nuts. If you have emotion when trading a real account you have probably not perfected your system. If you truly know what you are doing, when there is a decision to make, you just make it. You won't get emotional because you always know what to do. It's only when you don't know what to do that you get emotional so if that happens, go back to the demo and figure out what to do when that situation occurs.

Good luck guys...
Bob

where research touches lives.
kanon103
Oct 15 2014 at 06:47
99 ieraksti
savantfx posted:
If it can't be backtested then it is not a system. It is wishful thinking.


LOL at that.

there is number of systems can not be backtested due to tick is random on MT4. plus backtest is very unreliable.
put 'do not trust backtest' on your sets of rules.

jotekfinance
Oct 20 2014 at 06:52
138 ieraksti
GeorgeBischof
Nov 09 2020 at 11:48
318 ieraksti
New traders should be very careful on their trading. Because this market is a very risky market. Most traders loser their money because of making wrong decisions in this market.

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