Is it me trying to find a perfect strategy or should I act upon at least demo trading ASAP?

Beginner Questions
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They are both important but backtesting builds 90% of the conviction required. Forwardtesting fine tunes the remaining details.

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@jcena44 Thank you for sharing your knowledge with me :star_struck: this helps me get a better feeling of what I’m doing. I have backtested my strategy already and am trying to see what it’s capable of in demo trading :smile: only I don’t know when is the good time to quit demo trading and start trading live.

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Can we see a progress report?

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@Smith2525 what do you mean by a progress report? and how long should i trade to have one?

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What is important in backtesting is how you backtest your trades. Keep it realistic. A strategy can look amazing during your backtests, while it is a different story live. Hence testing your trades live is what should be done a lot as well.

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@21firestar Backtesting and relatively brief demo trading, pretty much gets you all the way there. I backtest, demo, backtest some more ideas that demo trading sprouts, demo again, backtest more, demo again and just go back and forth indefinitely. Once youve covered all the angles and addressed every question or cloudiness in your mind, going live wont be an uncertainty. It will be obvious that its time and you will feel odd watching profits pass you by. Until that happens I dont recommend starting. I think thats for most of us, there are exceptions like a genius with an intuitive trading ability or getting lucky and becoming rich in a gamble. Im humble enough to admit that the odds of me being one of these exceptions is really low.

Crystalizing all uncertainties, cloudiness, and questions is not only possible but required in most cases. Its tedious and will test your resolve. Just ideas people, i may be wrong and welcome strong debate

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Agree with this as well. Backtesting as much as possible, so you know what you will look for when you go live in the charts.

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@SMIfx Thank you and yes you are right even demo trading in the live market is a whole new level to me and I am currently working on it :woman_mechanic:

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@jcena44 thank you and yes I think you are right. I am trying to find an edge in here and right now I am not yet confident to trade with real money :smile: