Backtesting

[pablopluto]

Ok there is no difference in demo and live testing. The charts are the same the execution everything except one its your money. So if you cant see the next stick before it comes up how can the be forward testing. I think you picked some bad wording.

[GBLilleyUSMC]

Originally Posted by JonnyFX

Wrong still.

Unless you are manually looking at every single PIP by doing
manual backtesting, you are missing a ton of PIP movements
that could have very well triggered a margin call and wiped
out your account but in the actual backtest, it may show
that your account grew by 20%. Once again, backtesting
is a complete waste of your time because it misses a ton
of price movements that does not get reflected on your
run tests. How is that of any value? None.

I have explained my ideas on back testing. I don't need you to tell me what works when it has already worked for me. As far as the pip to pip idea, doesn't matter, I care very little about price action, I only care about what a candle looks like after it closes.

I don't see a reason to repeat what I have already said, but to any newbies reading this thread, be very skeptical of anyone telling you about absolute right and wrong ideas in Forex, especially over something like this.

If you are wrong, you will lose pips, if you are right you will make pips. I have stated my opinion about this now so everyone can decide to love it or leave it I suppose.

For the record - I think its pretty rude to tell someone that they are flat out wrong over something so theoretical and abstract.

Happy pipping to all.

[martin01]

Originally Posted by GBLilleyUSMC

I have explained my ideas on back testing. I don't need you to tell me what works when it has already worked for me. As far as the pip to pip idea, doesn't matter, I care very little about price action, I only care about what a candle looks like after it closes.

I don't see a reason to repeat what I have already said, but to any newbies reading this thread, be very skeptical of anyone telling you about absolute right and wrong ideas in Forex, especially over something like this.

If you are wrong, you will lose pips, if you are right you will make pips. I have stated my opinion about this now so everyone can decide to love it or leave it I suppose.

For the record - I think its pretty rude to tell someone that they are flat out wrong over something so theoretical and abstract.

Happy pipping to all.

Hello GBLilley,

I agree with you what ever you have said. I am also trading with the same strategy. I don't wait for the market to move faster. I just go for trades when i see there is some movement and come with profits. I make few trades in my account in a day and don't sit in from of the system for 24 hours.

For this my broker helps me a lot. I have made my own trading strategy and trade in this market. When i made the mind to enter this one of my friend told me use demo account of brokers and sharpen your trading skills first. He also told me about a broker called AVAFX. And i searched for it i found it a very nice broker having its trading platform in multiple languages which helped me read about it.It is having many facilities like leverage 200:1, commission and fees is less etc...... I am happy with that broker and trading and handling my account with patience. I like to trade with calm and patience which helps me to understand the market trend.

Happy trading.

[GBLilleyUSMC]

Originally Posted by martin01

Hello GBLilley,

I agree with you what ever you have said. I am also trading with the same strategy. I don't wait for the market to move faster. I just go for trades when i see there is some movement and come with profits. I make few trades in my account in a day and don't sit in from of the system for 24 hours.

For this my broker helps me a lot. I have made my own trading strategy and trade in this market. When i made the mind to enter this one of my friend told me use demo account of brokers and sharpen your trading skills first. He also told me about a broker called AVAFX. And i searched for it i found it a very nice broker having its trading platform in multiple languages which helped me read about it.It is having many facilities like leverage 200:1, commission and fees is less etc...... I am happy with that broker and trading and handling my account with patience. I like to trade with calm and patience which helps me to understand the market trend.

Happy trading.

Did I just get spammed? I feel violated.

[phil838]

I think JonnyFX and GBLilley are both right! If your system ignores price action and only cares about candles after they close, then backtesting is a valuable tool. If your system, like mine, is 100% dependent on price action then backtesting is a total waste of time, since you can't see price action when backtesting.

Only you can know if backtesting will work for you. Don't discount it or trust it just because someone else says so.

[triphop]

I can hear Richard Dennis laughing from here.

Use an appropriate data set for the timescale of your trades, and you'll find the results are much more accurate.

Anyway, that's enough of all this. Just remember it's a tooooooooooool

[nancypants]

Originally Posted by GBLilleyUSMC

Did I just get spammed? I feel violated.

Looks like something out of a brochure to me! Hahah