Article by Artem Kramin. Backtesting trading systems is absolutely pointless.
There are many letters in the article, so for the most impatient at the end I made important conclusions, having read which, I hope, there will be a desire to read
trading strategy
Effective trading with Fibonacci channels
Forex trading is not such a simple and safe task for your wallet as it might seem at first glance.. Only a well-developed trading system, hard money management and risk management can lead you to the desired goal. What Forex strategies are there and which of them to choose? Each trader should have his own answer to this question.. As the saying goes - what is good for a Russian, then death to the German. One and the same trading strategy for one trader can bring quite good profit, and to the other - daily losses. What is the reason? Yes, in the wrong understanding of the developed trading system, violation of its algorithm, i.e. lack of self-discipline. Recently, the strategy has become popular with many traders, based on Fibonacci levels and channels. At first, this strategy looks quite difficult., but having devoted enough time to her and thoroughly understanding her, it no longer seems so difficult, on the contrary, quite simple. Today, almost every tenth trader uses Fibonacci channels in Forex. What is this strategy? In fact, channels are one of the subspecies of correction levels, но лини тренда на которых расположены не по горизонтали, and diagonally. As always, channels act as support and resistance levels.. Usually, the initial channel is always built according to the maximum and minimum extrema for any period of time, the height of which is conventionally taken as a unit. …
Mirror trade
If you are tired of looking for the perfect strategy, and emotions bother you – you exit winning trades too soon, do not limit losses on losers, then maybe you should consider the option «mirror trade». Becoming extremely popular in the forex market, mirror trade – it is a way of imitating the methods and approaches of successful traders. Even though it sounds simple enough […]
Discipline – how not to enter the limit
I have already described the system of double limits for the day, she very hard teaches not to go beyond the second limit and stop on time. This is a very good technique at first., but when you have been trading for a long time and follow all the rules, skipping a day during the reporting season is not very beneficial for your wallet. Therefore, I came up with an alternative : You also have a day 2 limit First conditional, if you enter for it, then you no longer trade today. If you enter for the second, then the next day you reduce your average position and the daily limit DOUBLE, and so every day if you go beyond it. If a day with a reduced limit closed in a normal plus, you return it to the original one again It seems that everything is simple, can you have some additions ???
Improving CPS and quality of deals
From the new week I introduce myself new rules to supplement the old ones, I have already voiced them and were intended for beginners, to make them think. The more you trade , the more you break the rules in trading, we must exclude this. Initially given 3 transactions for the first half of the day If CPS (number of cents per 1 share) less 20, then I cannot open new trades for an hour or two, depending on the market and time If the CPS is greater 20 then you can do more 3 deals and so on. Maximum open trades can be held 3, in very rare cases if there is a very good deal, you can open another one provided, what a stop by 1-2 open deals to be at zero or plus.
Timothy Sykes seminar in Moscow
Timothy Sykes Seminar “Pump&Dump©” Timothy Sykes American Trader's Secret to Success — his trading strategy, which he has consistently adhered to in trading for already 6 years. The essence of the strategy is trading "short" shares, selected in a certain way using fundamental and technical analysis, news background analysis, as well as intraday activity of stocks. Pump strategy&Dump© allows you to achieve high […]
Copy :)
Fun, used to copy my posts and pass them off as their, now they copy the trading system and also pass off as their own and even earn, who really wanted to understand. I am pleased to, that my main goal of sharing my experience with others is slowly being achieved, but it is a little alarming how they describe why you need to do this and that, and this should not be done. Sometimes it's very funny to read, because they write nonsense :) And the worst thing is they don't develop it, more precisely, they cannot understand that they did not have time to write here due to lack of time, I hope they succeed. P.S. This is not about you M. ;)
Not a jeweler
After a couple of days I still understood, that short feet are not mine. Before, I didn't really bother about my feet, though 5 cents or 14 Cents, and when he began to try to go everywhere at the ideal price and with minimal risk they began to distribute them too often. Because of this, good deals were closed. The most important thing – this is a good stop, even if the price has slipped and there is no need to try to reduce the risk every time where it is not possible. Back to normal trading with stops 5-15 Cents, but I increase the minimum potential in stocks to 60-70 Cents. We need to improve the selection of shares, look more for stocks with good potential, close to levels and a clear trend. My main emphasis is on technical analysis., but now I will read the news more attentively and study the companies.
The beginning of tough discipline
Finally, I recovered, you can return to trading. Now I want to tighten my discipline and start trading only according to my trading strategy. Here are some small rules : In the first hour I do not trade and at lunchtime Only according to the trading plan Risk profit 1 to 5 Stop 5-10 cents Potential not less 50 cents Only familiar patterns Only trends Smooth stocks Adequate
Hone discipline
During all this trading time, I have made thousands of mistakes., know my strengths and weaknesses. I lack attentiveness, discipline so as not to repeat them. If I can cope with the fact that would not repeat the mistakes, then my results will improve greatly. In most trainings, for breaking the rules, you set yourself some kind of meaningful punishment and I also need to come up with something like that. Yes, the loss of money is already a punishment for making a wrong transaction, but I take it for granted, that you can't get away from the cons, anyway, any plus will cover several negative trades.