After reading “Naked Forex” by Nekritin and Peters I try to implement the approach mentioned in the book. I first selected a strategy (pin bar), backtested it on about 10-15 pairs since 2015 January data. After getting positive results in this, I got to demo trading. But here I’m not doing well. All 6 initial trades hit the stop loss. To be honest, I’m disappointed but I don’t want to change the strategy. In that book, Nekritin and Peters are against to go from one strategy to another one after getting bad results.
Did something similiar happen to you? How did you handle? What can I do?
Hi, keep trading, up to 10 losses in a row can happen or even more , that’s why you use money management. Also, remember that strategies lose their profitability over a period of time and it is worth observing the maximum drawdown that has occurred in history. Regards Greg
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When you “back-tested it” how involved were your emotions?
When you forward-tested it (with REAL money), how involved were your emotions?
Emotions play a massive part of your strategy.
Over confidence, greed, boredom, anger, joy- all will impact your decision making skills.
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You backtested it on 10-15 pairs, how many pairs are you trading it on.
It’s quite possible they are all giving off signals at the same time - and therefore the losses are the same too
Could be wrong, but IMO the more markets you trade the longer the runs of losses can occur