It reminds me of an old Larry Williams system, where positions are entered after prices break through a fractal and back into a slower timeframe trend, but that one was much, much simpler (and no good at all - this may be better!).
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Are you sure?
I made this strategy by putting random numbers for parameters in indicators?
The underlying principle is a valid and reasonable one, though.
I based it off this video
There is no edge or positive expectancy with just buying and selling. The Forex market is not this inefficient that a basic buying and selling will be able to make a profit.
What do you mean by that?
There is no edge in buying the ask and selling the bid. You’ll spend a lifetime chasing an entry strategy that only exists in the past.
There’s many ways to curve-fit. This type is taking a strategy that has no positive expectation, and using past performance, discover a strategy that is profitable even though it has no positive expectancy.
Are you talking about my strategy or the video?
That video only traded past price. I see no profitability from that over random entries. A random entry strategy will yield better results.
Oh
I see
But is my strategy good?
Yeah brother it looks great, I would suggest to deposit more and start serious trading, not hunting for cents.
I don’t have that kind of capital yet
Yea, I get that concept. You’re right. The trend is your friend.
Okay, thanks for the extra details. It makes more sense now.
Another day, Another Backtest
I ran another backtest on GBP/USD since I had tweaked the settings of some indicators since then, and the results are basically the same
Out of 110 trades, 52 were losses
I stated recording the days it takes for a backtest, and over the course of 51 days, I traded on 13 of those days.
The results are the same in the sense that they were both carried out targeting around the same range (february 2024) and they both look the same
As you can see, there is a lot of red in this picture of my most recent backtest
In this picture of the previous one, there isn’t as much red but there were greater losses in this test. You can also see a backtest of EUR/USD where there aren’t as many losses.
But I think this may be due to the time period I decided to target when doing the backtest
Within those two lines are 52 trading days and as you can see, the market is very choppy
This is the picture of the time period I targeted for the EUR/USD backtest and as you can also see, the market is in a CLEAR uptrend for most of the days
So maybe the GBP/USD backtests are returning results below expectations because the market conditions aren’t optimal for the strategy.
Since the market is kinda choppy and moving sideways, I may not actually be trading with the current market trend.
On the bright side, the net loss I incurred from losing streaks wasn’t enough to completely wipe the account, with the worst on reaching -$414.
The highest losing streak on the previous one was 4 trades, which somehow ended up reaching -$541
It appears as if the new settings have reduced the number of losing trades but it has also made it miss some amazing trades which the old settings caught
What makes you think this video is recommendable for beginners?
Because it says beginners only
M1 time frame for beginners, good joke 
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