TRADING IS NOT A GET RICH QUICK SCHEME. ITS ONE OF THE MOST DIFFICULT ENDEAVOURS !! ---------------------------------------------------------------------------------------------------------------------------------------- 1. Educate yourself in trading
2. Pick a strategy/indicator/system and master it. DO NOT jump from system to system
3. Know the ins and outs of that sed system, its limitations, strengths & weaknesses
4. There is no such thing as a holy grail. All strategies/indicators/systems experience a draw down (series of losing trades) the key is to go back to your back-test results and see how many losses in a row did you have and the system still gave you a positive expectancy over hundreds of trades
5. Even systems that have an 80% win rate can lose upto 8 trades in a row!! I am sure by the 6th loss in a row more than 99% of traders quit on that system and jump onto the next shiny object..on the flipside a system with a 40% win rate can still win if your rewards are more than your risks..This is the reality of trading !! so figure out your niche and exploit it in your favor that's it !!
6. DO NOT forward test ANY system BEFORE you back test on a simulator ---> DO NOT live trade ANY system BEFORE you forward test on demo ---> ONLY live trade once you have proven for yourself that the system has a positive expectancy over a large enough sample size (at least 50 to 100 trades) ---> TREAT YOUR TRADING LIKE A BUSINESS and take it with the seriousness it deserves!!
7. Trade one setup..one timeframe..pick one..master one..trade one !! ---------------------------------------------------------------------------------------------------------------------------------------- DEMO & back-test before you Rent..RENT & forward-test before you Buy..BUY & live trade after you are confident !!
// TEST IT----> PROVE IT ----> TRADE IT //
PROCESS OVER OUTCOME..PROCESS OVER OUTCOME..PROCESS OVER OUTCOME !! ----------------------------------------------------------------------------------------------------------------------------------------
THE RULE OF THREE(S) TO MASTER ANY TRADING STRATEGY #MASTERTRADING -------------------------------------------------------------------------------------------------- PROCESS ---> OVER ---> OUTCOME PROCESS ---> OVER ---> OUTCOME PROCESS ---> OVER ---> OUTCOME
SIMULATOR ---> DEMO ---> LIVE SIMULATOR ---> DEMO ---> LIVE SIMULATOR ---> DEMO ---> LIVE
TEST IT ---> PROVE IT ---> TRADE IT TEST IT ---> PROVE IT ---> TRADE IT TEST IT ---> PROVE IT ---> TRADE IT
BACK TEST ---> FORWARD TEST --> LIVE TRADE BACK TEST ---> FORWARD TEST --> LIVE TRADE BACK TEST ---> FORWARD TEST --> LIVE TRADE
ONE MARKET ---> ONE SETUP ---> ONE TIMEFRAME ONE MARKET ---> ONE SETUP ---> ONE TIMEFRAME ONE MARKET ---> ONE SETUP ---> ONE TIMEFRAME
PICK ONE ---> MASTER ONE ---> TRADE ONE PICK ONE ---> MASTER ONE ---> TRADE ONE PICK ONE ---> MASTER ONE ---> TRADE ONE --------------------------------------------------------------------------------------------------
Blog on My Trading Strategy:
FIBONACCI REVERSAL BOUNCE TRADE SETUP
Tools of the Trade: Prometheus Trade Engine & Prometheus Smart Money
https://www.mql5.com/en/blogs/post/680849
Blog on My Trading Strategy:
FIBONACCI REVERSAL BREACH TRADE SETUP
Tools of the Trade: Prometheus Trade Engine & Prometheus Smart Money
https://www.mql5.com/en/blogs/post/680844----------------------------------------------------------------------------------------------------------------------------------------
1. Educate yourself in trading
2. Pick a strategy/indicator/system and master it. DO NOT jump from system to system
3. Know the ins and outs of that sed system, its limitations, strengths & weaknesses
4. There is no such thing as a holy grail. All strategies/indicators/systems experience a draw down (series of losing trades) the key is to go back to your back-test results and see how many losses in a row did you have and the system still gave you a positive expectancy over hundreds of trades
5. Even systems that have an 80% win rate can lose upto 8 trades in a row!! I am sure by the 6th loss in a row more than 99% of traders quit on that system and jump onto the next shiny object..on the flipside a system with a 40% win rate can still win if your rewards are more than your risks..This is the reality of trading !! so figure out your niche and exploit it in your favor that's it !!
6. DO NOT forward test ANY system BEFORE you back test on a simulator ---> DO NOT live trade ANY system BEFORE you forward test on demo ---> ONLY live trade once you have proven for yourself that the system has a positive expectancy over a large enough sample size (at least 50 to 100 trades) ---> TREAT YOUR TRADING LIKE A BUSINESS and take it with the seriousness it deserves!!
7. Trade one setup..one timeframe..pick one..master one..trade one !!
----------------------------------------------------------------------------------------------------------------------------------------
DEMO & back-test before you Rent..RENT & forward-test before you Buy..BUY & live trade after you are confident !!
// TEST IT----> PROVE IT ----> TRADE IT //
PROCESS OVER OUTCOME..PROCESS OVER OUTCOME..PROCESS OVER OUTCOME !!
----------------------------------------------------------------------------------------------------------------------------------------
THE RULE OF THREE(S) TO MASTER ANY TRADING STRATEGY #MASTERTRADING
--------------------------------------------------------------------------------------------------
PROCESS ---> OVER ---> OUTCOME
PROCESS ---> OVER ---> OUTCOME
PROCESS ---> OVER ---> OUTCOME
SIMULATOR ---> DEMO ---> LIVE
SIMULATOR ---> DEMO ---> LIVE
SIMULATOR ---> DEMO ---> LIVE
REVIEW ---> ADJUST ---> APPLY
REVIEW ---> ADJUST ---> APPLY
REVIEW ---> ADJUST ---> APPLY
TEST IT ---> PROVE IT ---> TRADE IT
TEST IT ---> PROVE IT ---> TRADE IT
TEST IT ---> PROVE IT ---> TRADE IT
BACK TEST ---> FORWARD TEST --> LIVE TRADE
BACK TEST ---> FORWARD TEST --> LIVE TRADE
BACK TEST ---> FORWARD TEST --> LIVE TRADE
ONE MARKET ---> ONE SETUP ---> ONE TIMEFRAME
ONE MARKET ---> ONE SETUP ---> ONE TIMEFRAME
ONE MARKET ---> ONE SETUP ---> ONE TIMEFRAME
PICK ONE ---> MASTER ONE ---> TRADE ONE
PICK ONE ---> MASTER ONE ---> TRADE ONE
PICK ONE ---> MASTER ONE ---> TRADE ONE
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Namiri Trade Engine https://www.mql5.com/en/market/product/60607
Primus Trading Engine https://www.mql5.com/en/market/product/30888
Primus Smart Money https://www.mql5.com/en/market/product/30887
Prometheus Trade Engine https://www.mql5.com/en/market/product/91908
Prometheus Smart Money https://www.mql5.com/en/market/product/16768
Centaurus Trend Engine https://www.mql5.com/en/market/product/21529
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MAKE THE STRATEGY YOUR OWN AND DISCOVER OTHER WAYS TO TRADE WITH IT
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