This is how to backtest an indicator based on the No Nonsense Forex method of trading. This post is a response to all of the questions coming in on how to properly backtest all of the new indicators that listeners of the Forex Q&A Podcast have been discovering.
Most Forex Fibonacci strategies sound good at the very beginning. “Get in on the trend at a discounted price” Well frick yeah, where can I do that? “See, there are these repeating numbers that occur in nature. By using these patterns, we can better decide where price is going to retrace […]
If you gave yourself a monthly returns goal in Forex trading, you would self-sabotage yourself into the ground. Talking about monthly returns is glamorous and all, but it’s never something a real trader should have. Let’s talk about why in Episode 20 of the Forex Q&A Podcast.
So your trade is winning, now what? What you do right now determines the strength of your overall money management. The strength of your overall money management determines how high or low your account goes. Listen up.
Is the price of oil and/or gold an early indication for what might happen in the CAD or AUD? What about the Nikkei and the USD/JPY? It would be nice to know this in advance, no?
The Heikin Ashi indicator is the “Easy Button” of Forex trading. If you’re smart, this should be a red flag. It would be great if we could use it and win with it. Can we still do that?
“Fundamental Analysis is a key part of Forex trading”. Ummm, no it’s not. In fact, it gets in your way, eats up your time, and makes you lose more than you should. You disagree? Read up.
Forex Twitter loves to point out round numbers on currency pairs and label them things like “Psychological Levels” and “Big Figure”. Don’t fall for this.
We’ve all thought about it. A robot to do all the work for us? Perfect! But is it worth it?
They exist, they can move wildly, and they can be very lucrative in the right hands I’m sure. But are we better off trading them or not trading them?