Metatrader 4 has long been the go-to platform for Forex traders looking for a robust and reliable trading experience, while providing automated trading functionality. However, as financial markets evolve, so too does the technology and the range of available platforms. If you’re searching for MetaTrader 4 alternatives, you’ll find a variety of trading platforms that … Read more
Welcome to another tutorial where I’ll be guiding you through the process of creating, testing and using Entry Rules in NakedMarkets to dramatically speed up your backtesting. This is easy to do once you’ve gone through it from beginning to end, so let’s get right into it. The Benefits of NakedMarkets Entry Rules NakedMarkets Entry Rules allow … Read more
I failed to understand how important this concept is when I started in 2007, so I want to save you a lot of time and frustration by helping you understand it right now. Key Takeaways The Importance of Understanding the 2 Primary Types of Trading Strategies Knowing which type of trading strategy you are using … Read more
The fantastic thing about trading is that you can do it from anywhere in the world. I’ve traded from places like London, Finland, Estonia and Hawaii. So in this guide, I’ll give you my personal picks for gear I’ve used in my trading travel setup. This stuff will help you travel light, but enjoy all of … Read more
In the early days of my trading journey, I used to get very discouraged during a drawdown. As soon as I hit a drawdown, I would assume that the strategy had stopped working and would jump to a new trading strategy. That’s the last thing we should do as traders. I’ve learned a lot since … Read more
Are you tired of losing money on trading robots that promise you profits, but never deliver? Look no further than this article, where I will share the truth about which trading bots actually work and how to find one that fits your unique personality. Many fully automated bots fail for a variety of reasons, including … Read more
Key Takeaways Why Backtesting a Trading Strategy is Important I’ve written many articles and tutorials on backtesting. You can find them here. But if you’re new to the idea of backtesting, I’ll give you the elevator version of why it’s so important. By utilizing backtesting software, I’m able to simulate years of trading within minutes, allowing … Read more
Manual backtesting involves a trader simulating a trading strategy on historical data by manually checking whether each trade would have been a success or a failure according to the strategy’s criteria. This process requires the trader to scroll through past market data, apply the trading strategy rules, and record the outcomes of each hypothetical trade. … Read more
Backtesting This is a technique used to test your trading strategy using historical data. The image above is an example of a backtest that I did recently. In essence, you are seeing how your strategy would have performed in the past. By analyzing historical market data, you can identify patterns and assess the potential profitability … Read more
When you’re testing trading strategies to gauge their profit potential, backtesting is a crucial step. But it’s not enough to just stop at the total return of a strategy in backtesting. There are many metrics that should be studied to assess the viability of a strategy, and if it will meet your goals. A Monte … Read more