[abner]

Originally Posted by akeakamai

My intention isn't to negate others advice, but I really believe backtesting this system will be a waste of your time. I think the potential of your system is valid, because it is based on simple and proven concepts like support/resistance and candlestick patterns. Now the hardest part is following your own plan, and the only way to get an idea of how well you do that is to trade it.

You see if you are forward testing, you can trade it for a month, and if things aren't going like you expected, you can make improvements and then implement your new ideas and rules into the next month of demo trading. If you are getting real results and then you take the time to make improvements based on those results, you can see how this would be the most efficient way to build a profitable system that you have confidence in.

You will likely face 3 psychological barriers on your path to success:
1. Gaining confidence in your ability to trade your system profitably in a live market condition while not risking any money (demotrading)
2. Trading your system with confidence while risking "expendable" amounts of money in a live market
3. Trading your system with confidence while risking your total capital (ie. amounts that would bother you if you lost it all) in a live market

Its nice that you want to help and all, but with your trading record maybe you should just keep to yourself. you own advice doesn't see to be helping you.