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CROforce
Dec 10 2015 at 07:47
15 postów
socks posted:
Testing is also about building confidence in your strategy as well as proving it works over time. If you go live with your strategy right now and have 2,3, or 6 losses in a row, would you be confident enough to say whether it is or is not working as intended? Is that an acceptable drawdown, just a crazy week in the markets, or does it mean you should find something else? You need to know your strategy inside and out and what it's weaknesses look like in order to avoid the psychological mistakes of throwing away a good strategy or sticking with a losing one.


Well said... I couldn't agree more 😎

Success is not final, failure is not fatal: it is the courage to continue that counts
CROforce
Dec 10 2015 at 07:47
15 postów
luthfi_maung posted:
socks posted:
Testing is also about building confidence in your strategy as well as proving it works over time.


That's why you need to test it first, building your confidence with your new trading before putting it into live trading. Just make sure you get 30%-40% gain in demo account when testing your strategy and you're ready to go...


Thank you for the input. 😎

Success is not final, failure is not fatal: it is the courage to continue that counts
CROforce
Dec 10 2015 at 07:48
15 postów
My plan is to be in this for a “long haul”. I am not looking for HUGE % return and 'get rich quick', but to build my account while compounding. 5% a month could take you long ways. I have steady good paying job and planning to keep it that way.
Forex is just something on the side… If it works as planned, it would be my “retirement savings 😎” but I don’t plan to make forex my main income. That's why low Drawdown (currently 7.4%) is important to me. Risking only small % while looking for bigger profit. I've done EA's before but they are all (at least the one I had) Drawdown suckers. Small and steady is my approach.

Success is not final, failure is not fatal: it is the courage to continue that counts
kieran (snapdragon1970)
Dec 10 2015 at 13:13
1944 postów
CROforce posted:
How long do you test your “manual strategy” before you can say, “yup it’s working, I am going live now”?
I have started Demo account and I am going to use that same amount on the Real account. My entry and exits (SL/TP) are controlled manually (I am pretty much in front of the computer all day and if I am away from it, I have my phone connected to the VPS). Overnight trades are controlled with tighter SL or trailing SL. I don’t risk more than 1.5% of my account and my strategy allows me (so far 2:1 or higher ratio).


You can always start a live account with the minimum and test your strategy,if it works then you can increase the amount. Demo is fine for learning how your platform works,but live is a totally different ball game.Be careful with over night positions,it has to be a guaranteed stop loss,even then expect slippage.Trailing stops are not a great idea because of spikes ,but that's your personal choice.Hit the markets when their most liquid to give worthwhile trades.Don't limit TP but do get an idea of how much your product moves in normal conditions.

be lucky!

"They mistook leverage with genius".
Andika_anjani
Dec 10 2015 at 15:29
10 postów
snapdragon1970 posted:
CROforce posted:
How long do you test your “manual strategy” before you can say, “yup it’s working, I am going live now”?
I have started Demo account and I am going to use that same amount on the Real account. My entry and exits (SL/TP) are controlled manually (I am pretty much in front of the computer all day and if I am away from it, I have my phone connected to the VPS). Overnight trades are controlled with tighter SL or trailing SL. I don’t risk more than 1.5% of my account and my strategy allows me (so far 2:1 or higher ratio).


You can always start a live account with the minimum and test your strategy,if it works then you can increase the amount. Demo is fine for learning how your platform works,but live is a totally different ball game.


Technically, demo and live account are the same thing. But some bad broker modified demo account so they would likely 'bait' their clients.
But the thing to remember is, don't let yourself hanging in demo account for long time.

CROforce
Dec 12 2015 at 14:20
15 postów
All good and valid responses... Thank you much

Success is not final, failure is not fatal: it is the courage to continue that counts
dianajs
Dec 27 2015 at 09:02
823 postów
Testing a strategy requires time to build your own confidence in it and to see the results it gives under different conditions. Personally I would say that takes between 3 to 6 months at the very least.

Don Pablo (Antonis94)
Jan 07 2016 at 08:44
10 postów
Hello people ,as a new trader i opened a demo account and i want to open a live one but im not sure when is the right time to do so,i assume the criteria for opening a live account its not how long i had the demo account but how much knowledge i have ,can anyone give me some tips regards this issue?thank you

mlawson71
Jan 08 2016 at 18:34
1487 postów
Personally, I am satisfied after about a month of testing. Sometimes it's obvious it's not working out after a few days though.

Bisulget
Dec 27 2016 at 07:34
14 postów
In my experience, it was about one year, or sth near that amount of time.

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