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Beginner Questions
1

Hello, everyone. I come from China and have been trading in the foreign exchange market for more than 3 years. I have not yet made steady profits. I have been looking for strategies and tests repeatedly, but the results are all losses. What is my problem? Or is there any website that allows me to learn the trading system? Thank you very much.

2

How long did you test these strategies

3

I manually retest with retest software.

4

Here I posted a simple strategy that may help

Kind Regards

Langers

The Scruffy Trader

1 Like
5

Hello, langers. Thank you very much first, but I can’t watch the video you sent.

6

I posted this for you on another thread earlier today -

"This is not a stupid observation - you are right - indicators are inaccurate and always lag behind price. Which is bad if you want to use them as entry signals, but not bad if you want to understand the “sentiment” of the market.

So just use price. Look for an uptrend: set a buy order at the top of a pull-back: set a stop-loss below the bottom of the pull-back: make sure your position is small and bank your profits before the next pull-back starts."

1 Like
7

Hi, how many years you use in backtests? Regards Greg

8

Chart cycle of 3-4 months

9

thanks…

10

The chart period is 3-4 months

11

Look for the The Scruffy Trader on youtube all my vids are there

1 Like
12

So you use last 4 months data to backtests strategies?

13

Testing a system is similar to meeting someone for the first time and getting to know him better. There are three case scenario to these:

  1. Meeting someone for the first time on Facebook and trying to know him better only through Facebook means

  2. Meeting someone for the first time on Facebook and arranging a meeting in the physical world

  3. Meaning someone in the physical world and getting to know him better through physical contact

For the first scenario which is number one above, you will tend to know little about the persons characters and how he reacts to his likes and dislikes. He plainly tells you his likes and dislikes on text but you don’t get to see it in action firsthand. Then you think you know him but you don’t. This is the same with a strategy that is tested with a system/machine. The machine gives you a plain result on text. Then you think you know your strategy but you don’t. BAD

For the second case scenario which is number two above. You allow the machine to give you a break down of your system level of profitability then you forward test for at least one year to see it operate live with you as the operator and not the machine. GOOD

For the third case scenario which is number three above. You don’t depend on the machine. You strictly test the profitability of the system on demo for a specific period of months or years to get familiar with it. During this process you will know all the raw details of your system. The machine can’t give you this raw details. GOOD

Which are you, Regards.

14

Thank you for your answer. I live in China and am Chinese

15

Stay safe against coronavirus.

17

Love the video , what time frame for your candles are you using ?

18

It is a end of day using daily candles

19

@Lang15… Langer’s that was a great video!!

I like your bank @ 50 pip concept it’s something that’s been rolling around in my head but I have yet to act on.

KC

21

Yep I am in it to be paid and scaling can do that