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How to Break Through in Trading

  #15 (permalink)

baltimore md
 
 
Posts: 8 since Dec 2017
Thanks: 5 given, 1 received


kevinkdog View Post
Hi Jeremy -

What you describe is a pretty common issue with newer traders, myself included back in the day.

Many failed traders spend years and years, always jumping from one method to another method, usually searching in vain, almost always ending up in failure.

So you need to turn this around. The way to do it is to find a method that works. I'm not saying to rely on the advice of some "guru" who says "gaps will make you money" or "Ellliott wave is a proven method."

I'm saying you need to historically test a method yourself - prove it has had historical positive expectancy. That does not mean it will work in the future, but ask yourself if it is better to trade something that has a history of working, or one that has a history of not working.

Most people actually take the easy way out - they decide on a method where they have no clue on if it has worked before or not. That is easier than testing, for sure. But then they wonder why they haven;t made money after X years.

TL;DR - HISTORICALLY TEST UNTIL YOU FIND A METHOD THAT WORKS (POSITIVE EXPECTANCY).

Does this mean I have to learn how to backtest? Or do you recommend me manually going back and checking myself? I pride myself on having an amazing work ethic so whatever it takes I am up to it.

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