There are a lot of holes in the business model… in fact, there is yet no business model.
Professional trading is strong on statistical probability - things like Montecarlo, Sharp ratio, etc. -
and I have been so busy trying to implement a trading approach that fits with my life, and that I can
understand inside out, that I have not yet fully implemented the second part of this plan, which is
projections, back-testing, getting to grips with statistics in a meaningful way etc.
My Excel skills are low and MyFxBook does not always seem to provide reliable charting for
analysis, so I have an uphill struggle when it comes to doing this manually - you know, taking all
your account’s trades and doing various statistical analyses on different aspects of the whole data.
The idea is trying to specialise in something that I can manage in the time that I have and that
shows to be feasible: as I do not have enough data to work from in terms of the current approach,
meaning that I do not have enough data to analyse my performance, I am busy managing positions
and looking into what things could improve my chances of success.
One of the questions that I am asking myself is whether I should invest any money at this stage,
where I am trading demo and have no capital that I could (or should) earmark for any trading venture,
by which I do not mean trading live money but invest in myself, for example in acquiring better tools to
look at the market, at what is actually important for what I am trying to do.
I cannot say more at the moment but it is essentially to do with marrying currency futures volume and
spot forex price to determine higher-probability entry for trend-trading and reversal opportunities.
I have been looking into volume for the last three-four years and I am slowly trying to find a way to
focus this in a way that can more directly be used in my trading.
There we go, that is where I am at.
What about you, Peter?