Tony142:




Foolish people attack other people opinion, while smart people ask question about others people opinion in order to know more, so with this your question I think u are smart



In my years of trading I discovered that there are 3 types of profitable strategy cut off mark, when a strategy meet this cut off mark then it is considered a good strategy


For example, let assume u applied for medicine and surgery at the university of lagos (UNILAG)

And the university said that in order for any student to be admitted into medicine department he or she most have a minimum jamb score of 320, this is to say that the cut off mark for medicine in unilag is 320




Now, let assume u score 290 in jamb, u will not be admitted into medicine by unilag, why?...because u did not meet the cut of mark (320)



Since I love inventing things, what I did was that I invent a "strategy cut off mark" that all strategy most meet in order for it to be considered as a profitable strategy




Below is the 3 strategy cut off mark I invent



1. 80% win rate + 1:1 RR
2. 50% win rate + 1:2 RR
3. 30% win rate + 1:3 RR




Note: the 3 strategy cut off mark above is just the minimum amount needed for a strategy to be considered profitable, for example if u have 90% win rate + 1:2 RR u are profitable while because this strategy is above the 1st strategy cut off mark, so when I say 80% win rate + 1:1 RR, it does not mean it will always be 80% win rate + 1:1 RR, it can be above it too, what matters is that your strategy meet the cut of mark


For your strategy to be considered as a good strategy it most meet one of the above cut off mark or else it is a useless strategy


So, how do u know if your strategy meet the above cut off mark?....very simple all you have to do is to use a trading simulator to backtest or forward test the strategy with atleast 1,000 signals, 1,000 signals is the minimum trades set up u have to take or back test before u can conclude if your strategy is good or not, after using the 1,000 trades signal then compare your results with the strategy cut off mark above to see if your strategy passed the cut off mark or not, if it does not passed it then you will have to re-write jamb again (look for another strategy to test)




Back to your question, in order for you to know if u are just being lucky or not is to check if your strategy have being tested with all the types of market




There are 3 types of market

1. Trending market
2. Ranking market
3. Choppy market




Every strategy has a particular market that it works best in, for example let assume u have a strategy that works best in a trending market, and the market has being in an uptrend for the past 3 months, if 80% of your trades is a BUY, u will win 80% of your trades, why?...because the market is in an uptrend for the past 3 months and most of your trades are BUY, so the market will favour you because u are following the direction of the trend so you will be having a lot of winning streak, but guess what? When the market change to a ranging market or choppy market u will started losing money, while? Because your strategy is only good In a trending market, but now the market is no longer trending it has changed, it is now ranging or choppy so you will surely lose money




So the way to know if u are being lucky or not is to make sure u test your strategy in all type of market condition (trending, ranging & choppy)



If after testing it in all the 3 types of market and the strategy passed the strategy cut of mark above then congratulations, you have got a solid strategy





One of the way to know a good or bad strategy is to backtest or forward test it, but since I hate stress and love inventing things, I decided to invent 2 ways to know if a strategy is good or not without even backtesting or forward testing it, but I do not want to go into that, I have reveal enough secret already, so that is it

Please kind sir can you grace us with your trading journal for the past 3 months?

Tony142:


Back to your question, in order for you to know if u are just being lucky or not is to check if your strategy have being tested with all the types of market




There are 3 types of market

1. Trending market
2. Ranking market
3. Choppy market



So the way to know if u are being lucky or not is to make sure u test your strategy in all type of market condition (trending, ranging & choppy)

This is insightful, thanks a bunch bruv.

Will be looking for a ranking or choppy market but incase I don't see it, I guess I'll have to tighten my entry rules..

If the trades don't match my rules, I'll be staying off and that's that for me, no second guessing or fomo-ing.

We skip the trade and move on to the next one..

Discipline na the key last last

I’ll like to know your suggestions on backtesting softwares and the parameters to consider.

Tony142:




Foolish people attack other people opinion, while smart people ask question about others people opinion in order to know more, so with this your question I think u are smart



In my years of trading I discovered that there are 3 types of profitable strategy cut off mark, when a strategy meet this cut off mark then it is considered a good strategy


For example, let assume u applied for medicine and surgery at the university of lagos (UNILAG)

And the university said that in order for any student to be admitted into medicine department he or she most have a minimum jamb score of 320, this is to say that the cut off mark for medicine in unilag is 320




Now, let assume u score 290 in jamb, u will not be admitted into medicine by unilag, why?...because u did not meet the cut of mark (320)



Since I love inventing things, what I did was that I invent a "strategy cut off mark" that all strategy most meet in order for it to be considered as a profitable strategy




Below is the 3 strategy cut off mark I invent



1. 80% win rate + 1:1 RR
2. 50% win rate + 1:2 RR
3. 30% win rate + 1:3 RR




Note: the 3 strategy cut off mark above is just the minimum amount needed for a strategy to be considered profitable, for example if u have 90% win rate + 1:2 RR u are profitable while because this strategy is above the 1st strategy cut off mark, so when I say 80% win rate + 1:1 RR, it does not mean it will always be 80% win rate + 1:1 RR, it can be above it too, what matters is that your strategy meet the cut of mark


For your strategy to be considered as a good strategy it most meet one of the above cut off mark or else it is a useless strategy


So, how do u know if your strategy meet the above cut off mark?....very simple all you have to do is to use a trading simulator to backtest or forward test the strategy with atleast 1,000 signals, 1,000 signals is the minimum trades set up u have to take or back test before u can conclude if your strategy is good or not, after using the 1,000 trades signal then compare your results with the strategy cut off mark above to see if your strategy passed the cut off mark or not, if it does not passed it then you will have to re-write jamb again (look for another strategy to test)




Back to your question, in order for you to know if u are just being lucky or not is to check if your strategy have being tested with all the types of market




There are 3 types of market

1. Trending market
2. Ranking market
3. Choppy market




Every strategy has a particular market that it works best in, for example let assume u have a strategy that works best in a trending market, and the market has being in an uptrend for the past 3 months, if 80% of your trades is a BUY, u will win 80% of your trades, why?...because the market is in an uptrend for the past 3 months and most of your trades are BUY, so the market will favour you because u are following the direction of the trend so you will be having a lot of winning streak, but guess what? When the market change to a ranging market or choppy market u will started losing money, while? Because your strategy is only good In a trending market, but now the market is no longer trending it has changed, it is now ranging or choppy so you will surely lose money




So the way to know if u are being lucky or not is to make sure u test your strategy in all type of market condition (trending, ranging & choppy)



If after testing it in all the 3 types of market and the strategy passed the strategy cut of mark above then congratulations, you have got a solid strategy





One of the way to know a good or bad strategy is to backtest or forward test it, but since I hate stress and love inventing things, I decided to invent 2 ways to know if a strategy is good or not without even backtesting or forward testing it, but I do not want to go into that, I have reveal enough secret already, so that is it

abham:
I’ll like to know your suggestions on backtesting softwares and the parameters to consider.

How do I get a backtesting simulator..

Feshizzy:


Please kind sir can you grace us with your trading journal for the past 3 months?

I do not impress people, so it left for u to believe weather I am profitable or not

View on eurusd

abham:
I’ll like to know your suggestions on backtesting softwares and the parameters to consider.

The parameters to consider depends on your strategy, the rules of your strategy should be your parameters

As for the software, if it is back testing u can use your normal demo account to do it, but if it is forward testing then use a trading simulator (to make it faster)

rhynoemmie:


This is insightful, thanks a bunch bruv.

Will be looking for a ranking or choppy market but incase I don't see it, I guess I'll have to tighten my entry rules..

If the trades don't match my rules, I'll be staying off and that's that for me, no second guessing or fomo-ing.

We skip the trade and move on to the next one..

Discipline na the key last last

Okay

Guys, how are you doing in Forex trading? I thought I didn't stand a chance because even though I spent a lot of time learning how things work, I didn't have the money to trade. It's good that I found the https://www.audacitycapital.co.uk/, thanks to the support of this Forex trading firm, I started trading and quickly came to the result. I can say that they will provide me with the necessary funding, shaping my future in trading.

Gozzylala:


Unfortunately, imo, I don't think we as traders can stop doing some indiscipline once in a while, I think we can only reduce it by being more mechanical than using intuition. I think staying disciplined to our trading plan is a permanent war with ourselves. I'm a newbie in trading and two things I have found useful so far to help with discipline are: staying away from the charts especially if it hasn't hit your levels, not sitting and staring at it all day.
Secondly, I keep a daily journal of how many times my setup appeared in a day and if it worked or not. At the end of the week and month I calculate the RR it gave minus the losses. This makes me see that I don't have to trade everyday and my setups won't appear everyday but that I'm confident that I will end up profitable at the end of the month. I trade only EU just like you.

Thanks for the advice.

Blackicegold:







I would love to continue this conversation on WhatsApp. Are you comfortable with the idea ?

Okay
Zero Eight one six five nine seven five eight seven one

POSSIBLE SELL TRADE @ THE POI...TRADE RESPONSIBLY

saintfaculty:
How far, any trade update today?

hmm

Englishisamust:
View on eurusd

Missed the first setup another setup is building.

Tony142:




Foolish people attack other people opinion, while smart people ask question about others people opinion in order to know more, so with this your question I think u are smart



In my years of trading I discovered that there are 3 types of profitable strategy cut off mark, when a strategy meet this cut off mark then it is considered a good strategy


For example, let assume u applied for medicine and surgery at the university of lagos (UNILAG)

And the university said that in order for any student to be admitted into medicine department he or she most have a minimum jamb score of 320, this is to say that the cut off mark for medicine in unilag is 320




Now, let assume u score 290 in jamb, u will not be admitted into medicine by unilag, why?...because u did not meet the cut of mark (320)



Since I love inventing things, what I did was that I invent a "strategy cut off mark" that all strategy most meet in order for it to be considered as a profitable strategy




Below is the 3 strategy cut off mark I invent



1. 80% win rate + 1:1 RR
2. 50% win rate + 1:2 RR
3. 30% win rate + 1:3 RR




Note: the 3 strategy cut off mark above is just the minimum amount needed for a strategy to be considered profitable, for example if u have 90% win rate + 1:2 RR u are profitable while because this strategy is above the 1st strategy cut off mark, so when I say 80% win rate + 1:1 RR, it does not mean it will always be 80% win rate + 1:1 RR, it can be above it too, what matters is that your strategy meet the cut of mark


For your strategy to be considered as a good strategy it most meet one of the above cut off mark or else it is a useless strategy


So, how do u know if your strategy meet the above cut off mark?....very simple all you have to do is to use a trading simulator to backtest or forward test the strategy with atleast 1,000 signals, 1,000 signals is the minimum trades set up u have to take or back test before u can conclude if your strategy is good or not, after using the 1,000 trades signal then compare your results with the strategy cut off mark above to see if your strategy passed the cut off mark or not, if it does not passed it then you will have to re-write jamb again (look for another strategy to test)




Back to your question, in order for you to know if u are just being lucky or not is to check if your strategy have being tested with all the types of market




There are 3 types of market

1. Trending market
2. Ranking market
3. Choppy market




Every strategy has a particular market that it works best in, for example let assume u have a strategy that works best in a trending market, and the market has being in an uptrend for the past 3 months, if 80% of your trades is a BUY, u will win 80% of your trades, why?...because the market is in an uptrend for the past 3 months and most of your trades are BUY, so the market will favour you because u are following the direction of the trend so you will be having a lot of winning streak, but guess what? When the market change to a ranging market or choppy market u will started losing money, while? Because your strategy is only good In a trending market, but now the market is no longer trending it has changed, it is now ranging or choppy so you will surely lose money




So the way to know if u are being lucky or not is to make sure u test your strategy in all type of market condition (trending, ranging & choppy)



If after testing it in all the 3 types of market and the strategy passed the strategy cut of mark above then congratulations, you have got a solid strategy




One of the way to know a good or bad strategy is to backtest or forward test it, but since I hate stress and love inventing things, I decided to invent 2 ways to know if a strategy is good or not without even backtesting or forward testing it, but I do not want to go into that, I have reveal enough secret already, so that is it

Oga you talk Too Much.. we are all humble learners here.. no come dey form boss here..
I have been in Forex business for so long. and I have come across people like you often. calm down with this gra gra.

realone12:
Oga you talk Too Much.. we are all humble learners here.. no come dey form boss here..
I have been in Forex business for so long. and I have come across people like you often. calm down with this gra gra.

OK, The father of Forex I heared u

realone12:
Oga you talk Too Much.. we are all humble learners here.. no come dey form boss here..
I have been in Forex business for so long. and I have come across people like you often. calm down with this gra gra.

That guy is too scared to go back to trading
The loan he collect with that him mouth, he never pay finish.
Any time he is asked to prove his theories, he comes up with one silly excuse or the other.

With his level if talks, if he truly trades, he would have Atleast shown us his achievements.

But NO, Bros like to feel high in his talks but zero practical trading.

He is one if those so called gurus that can talk Morning till night and motivate you.
But he would never motivate his own self back to trading.

He reads no doubt,
So he is educated in forex but lacks single experience in it.

Usdjpy

Using a demo account will be restricted to time frame, reason I asked if you could recommend a software but thank you for your response.

Tony142:



The parameters to consider depends on your strategy, the rules of your strategy should be your parameters

As for the software, if it is back testing u can use your normal demo account to do it, but if it is forward testing then use a trading simulator (to make it faster)

abham:
Using a demo account will be restricted to time frame, reason I asked if you could recommend a software but thank you for your response.

Use Forex tester if your strategy is base on mutiple timeframe analysis. But you will have to pay 150 dollars to get it. If your strategy is based on one timeframe use FX blue trading stimulator or soft4x trading stimulator it is free

Feshizzy:


That guy is too scared to go back to trading
The loan he collect with that him mouth, he never pay finish.
Any time he is asked to prove his theories, he comes up with one silly excuse or the other.

With his level if talks, if he truly trades, he would have Atleast shown us his achievements.

But NO, Bros like to feel high in his talks but zero practical trading.

He is one if those so called gurus that can talk Morning till night and motivate you.
But he would never motivate his own self back to trading.

He reads no doubt,
So he is educated in forex but lacks single experience in it.

Feshizzy and Tony142.. The heat is gearing up gradually by the way Tony142 you didn't come back to give an update of the funding boss infofirst gave to you last year mind you I'm not attacking you pls(it has been on my mind to always ask)

Thank you.

Englishisamust:


Use Forex tester if your strategy is base on mutiple timeframe analysis. But you will have to pay 150 dollars to get it. If your strategy is based on one timeframe use FX blue trading stimulator or soft4x trading stimulator it is free

Demo update: Account blown cos I'm just determined gold will sell.. My strategy didn't work well with gold but worked well with other pairs.. Likely I will drop gold and start again

3months account gone and I feel sad cos of the win rate

haryodehjia:


Feshizzy and Tony142.. The heat is gearing up gradually by the way Tony142 you didn't come back to give an update of the funding boss infofirst gave to you last year mind you I'm not attacking you pls(it has been on my mind to always ask)

Haaa!
You won't hear from him till next 3 months be that,
Not like I'm shading him, but i like it when someone walk the talk, even if you fail or lose, you will be better than those who didn't attempt at all.
For him, he just talks and talks and no show for it.

Not really the kind of inspiration we need here,
The way Gabonfx dey show is winnings na the the best fx trade alert and motivation be that,
No be to siddon with keyboard Morning till night, no single trace of trading in him. Just vibes

Taking a risk shorting gold in a time like this. SL 2072

IMAliyu:
Taking a risk shorting gold in a time like this. SL 2072

Risk free, target is 2020

Feshizzy:


Haaa!
You won't hear from him till next 3 months be that,
Not like I'm shading him, but i like it when someone walk the talk, even if you fail or lose, you will be better than those who didn't attempt at all.
For him, he just talks and talks and no show for it.

Not really the kind of inspiration we need here,
The way Gabonfx dey show is winnings na the the best fx trade alert and motivation be that,
No be to siddon with keyboard Morning till night, no single trace of trading in him. Just vibes

Habaaa!! Free this guy abeg!! U won make he change is moniker. He is still a inside the box 18 trader including me.

IMAliyu:

Risk free, target is 2020

Guy, na only you dey dis trade like this. Safe journey

Gold sell smashed

Now AU is ready to move up ,unless it fills the 4H hammer. If not ,buy AUDUSD for all the good reasons ,I’ve been busy and AUDUSD has been enjoying itself ,now we can talk
Make I off my scrubs sleep wake up fezzz