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Dillard Trading Services
I recruit top tier traders for hedge funds. This is a 100% free process to traders. You need a 6 month or longer track record here on MQL5. We seek returns of 2.5% a month or more within a 10% max drawdown. But, all is relative. So 5% a month within a 20% max drawdown is good too. The target doesn't need to be hit every month, you just need to average that rate over 6 months or more. If you are interested message me here on MQL5.
Walter Joseph Dillard
Why worry? It’ll probably never happen.
I find it interesting how many people don’t do what would make them happy because they worry about things that have next to no chance of happening.
They think things like, “I’ll develop my top trading strategy, then nuclear war will break out, my portfolio will go to zero, and I’ll have wasted my time and effort when I could have been stock piling toilet paper.”
For some reason fear gets them so much that they don’t do anything at all.
Here’s a test to see if something is really fear or if it’s rationality.
If you feel certain of a bad outcome then consider how you could profit off it. If it’s fear it’ll tell you why you can’t win no matter what. If it’s rationality then you’ll get good ideas on how to profit off the situation.
For example, if toilet paper apocalypse guy in the previous example was really sure that the apocalypse was right around the corner, he’d see value in stock piling toilet paper to sell at 80 times its current value when the apocalypse comes.
But of course he’s really just feeling fear, not rationality. So if he thinks about storing toilet paper, fear will tell him why that won’t work either.
Once you realize that fear will always make you worry and is not wisdom then it’s easy to push past it.
So why worry? It’ll probably never happen.
I find it interesting how many people don’t do what would make them happy because they worry about things that have next to no chance of happening.
They think things like, “I’ll develop my top trading strategy, then nuclear war will break out, my portfolio will go to zero, and I’ll have wasted my time and effort when I could have been stock piling toilet paper.”
For some reason fear gets them so much that they don’t do anything at all.
Here’s a test to see if something is really fear or if it’s rationality.
If you feel certain of a bad outcome then consider how you could profit off it. If it’s fear it’ll tell you why you can’t win no matter what. If it’s rationality then you’ll get good ideas on how to profit off the situation.
For example, if toilet paper apocalypse guy in the previous example was really sure that the apocalypse was right around the corner, he’d see value in stock piling toilet paper to sell at 80 times its current value when the apocalypse comes.
But of course he’s really just feeling fear, not rationality. So if he thinks about storing toilet paper, fear will tell him why that won’t work either.
Once you realize that fear will always make you worry and is not wisdom then it’s easy to push past it.
So why worry? It’ll probably never happen.
Walter Joseph Dillard
It’s very important to learn before you try to earn.
I meet people everyday who are in a rush to earn, but really don’t want to learn. This never makes sense to me personally. If you want to earn the high salary of a doctor or a professional athlete, getting those high end positions isn’t an overnight process. Yet, many people think successful trading is an overnight process.
This is likely because trading looks easy and you don’t have to be a great trader to put on a winning trade. However, you do have to be a great trader to consistently win. The approach many people tend to use is to start trading purely based on emotions, then when they lose, to switch to trying to know what the market will do and trade accordingly to conquer the market. They look to learn about the market, but rarely about the true nature of trading.
Instead, it’s best to learn about what trading actually is and how it actually works. To see that you can’t know what millions of people are doing and thinking, but you can use probabilities to predict what they will likely do, and utilize an edge to win more trades then you lose, and thus become a consistent winner.
Yet, many wish simply to earn and not to learn. They want to trade themselves instead of hiring a professional to trade for them, yet don’t want to learn how to properly create a winning trading system and refine their trading edge.
Luckily some people do look to learn and then they truly do earn. Trading can make you fabulously rich, but only if you truly do learn before trying to earn.
Learn, then earn!
Thanks for reading!
Have a great day!
Cheers!
:)))))))))))))))))))))))))))
I meet people everyday who are in a rush to earn, but really don’t want to learn. This never makes sense to me personally. If you want to earn the high salary of a doctor or a professional athlete, getting those high end positions isn’t an overnight process. Yet, many people think successful trading is an overnight process.
This is likely because trading looks easy and you don’t have to be a great trader to put on a winning trade. However, you do have to be a great trader to consistently win. The approach many people tend to use is to start trading purely based on emotions, then when they lose, to switch to trying to know what the market will do and trade accordingly to conquer the market. They look to learn about the market, but rarely about the true nature of trading.
Instead, it’s best to learn about what trading actually is and how it actually works. To see that you can’t know what millions of people are doing and thinking, but you can use probabilities to predict what they will likely do, and utilize an edge to win more trades then you lose, and thus become a consistent winner.
Yet, many wish simply to earn and not to learn. They want to trade themselves instead of hiring a professional to trade for them, yet don’t want to learn how to properly create a winning trading system and refine their trading edge.
Luckily some people do look to learn and then they truly do earn. Trading can make you fabulously rich, but only if you truly do learn before trying to earn.
Learn, then earn!
Thanks for reading!
Have a great day!
Cheers!
:)))))))))))))))))))))))))))
Walter Joseph Dillard
Refining an edge is a massive key to success in trading.
Most traders I meet have an edge, but they rarely have a well tested and well refined edge.
To me, it’s best to have an edge that has:
-1: Been backtested back at least 15 years on real broker tick data.
-2: Been forward tested at least 6 months in the live market.
-3: Been comparative backtested.
Each of these is a key component to the statistical validity of a trading edge.
Now, there are methods like Price Action that are hard to, if not impossible to, backtest. In these cases, forward testing is the only good option.
However, if at all possible, backtesting is very very important. This allows you to see how well your edge works in a variety of markets, not just the current one. As markets have shifted over time, it’s important to see how well your edge has shifted in its accuracy as things change.
Forward testing is necessary as it’s the only proof that the strategy can make real money in the real market. There are many good edges that work in theory, but crumble when the rubber hits the road. Forward testing is a must to prove that a strategy really works and works well.
Finally, the comparative backtest is where you backtest back over the same period of time that you forward tested and compare the profit and drawdown and look at the variation between the backtest and forward test data. The variation tells you the accuracy of your backtests and how well they can be relied upon for your future predictions.
To me all these steps are necessary to really know how well your edge works, and allow you to make adjustments to your system in order to prove its accuracy.
Thanks for reading!
Have a great day!
Best wishes to you all!
Cheers!
:)))))))))))))))))))))))))))))))))))
Most traders I meet have an edge, but they rarely have a well tested and well refined edge.
To me, it’s best to have an edge that has:
-1: Been backtested back at least 15 years on real broker tick data.
-2: Been forward tested at least 6 months in the live market.
-3: Been comparative backtested.
Each of these is a key component to the statistical validity of a trading edge.
Now, there are methods like Price Action that are hard to, if not impossible to, backtest. In these cases, forward testing is the only good option.
However, if at all possible, backtesting is very very important. This allows you to see how well your edge works in a variety of markets, not just the current one. As markets have shifted over time, it’s important to see how well your edge has shifted in its accuracy as things change.
Forward testing is necessary as it’s the only proof that the strategy can make real money in the real market. There are many good edges that work in theory, but crumble when the rubber hits the road. Forward testing is a must to prove that a strategy really works and works well.
Finally, the comparative backtest is where you backtest back over the same period of time that you forward tested and compare the profit and drawdown and look at the variation between the backtest and forward test data. The variation tells you the accuracy of your backtests and how well they can be relied upon for your future predictions.
To me all these steps are necessary to really know how well your edge works, and allow you to make adjustments to your system in order to prove its accuracy.
Thanks for reading!
Have a great day!
Best wishes to you all!
Cheers!
:)))))))))))))))))))))))))))))))))))