In my earlier article, "", I outlined the HOWs and WHYs of backtesting. Does your trading system work under all conditions? Under what conditions might it *not* work? Can you remove those instances from your plan? Under what conditions might you *improve* your win rate? In another article, "", Just as an unexamined life is not worth living, the unexamined trader should not be trading a system that has not been tested under every market condition (and I mean TORTURE tested under HUNDREDS of trades).
This video will show you HOW you can backtest your own system over time, determine its results, and refine it until it is bulletproof (or marketproof!).
All you need is a Trading System, a Spreadsheet, and a great trading platform (ahem, like TradingView) :-)
It will take some time and effort, but like everything else in life, if you don't put in the work, you won't get the results. And if you put in the work, you won't have to put a DIME of your precious capital into the market until you are CONFIDENT that your system will multiply that money in your account rather than feed the market monster.
I hope you enjoy the video... but more importantly I hope it will help you become a better trader. If this was beneficial to you please feel free to leave a like, a follow, or a comment... I'd love to hear from you and stay in touch as we all move forward in our trading journeys!
great video, I'm new to trading and I've been backtesting and record my trades on my trading notebook,but this excel sheet look so nice, please can I have a link to this excel sheet
ocaptain
⋅
@tagriffen, Thanks, and welcome to the wonderful world of trading! I was surprised (and humbled) at all the requests I got for my spreadsheetI *love* Excel... I remember as a "Starving College Student" in 1990 I paid over $300 for the FIRST version of Microsoft Office which came on 35 floppy disks! (the equivalent of $597 today!) Give me a few days and I'll make it a little more "user friendly" and release a version that anyone can use... Maybe I'll make one for the Forex market as well! Have a great weekend...
GrayFoxx
⋅
@ocaptain, I second this. I would love this sheet!! Well done sir!
ocaptain
⋅
@GrayFoxx, Thanks! I love your avatar... I was an avid FoxPro database developer "back in the day" and it gave me a flashback! :-)
Go ahead and "Follow" me and as soon as I release a "good for public consumption" version you'll be the first to know!
Trade well!
g_emprende
⋅
@ocaptain, here another foxpro developer who follows you, still developing and starting on the path of trader. I send you congratulations
ocaptain
⋅
@g_emprende, Welcome to the wild and wonderful world of trading... Sometimes when I look at some of the code in my spreadsheets it brings me back to my development days... For example, in a Forex Relative Strength sheet I have, two of the formulas are:
Hey Antony! I'm new to trading view and new to trading crypto. I've been learning a lot from people like yourself on here giving us good educational info, thanks for your time and sharing with us noobies how the pros do it :)
I'm a little confused on the short/long tool.. How exactly are you using it? Going long for example. How do I know where to drag the green target and where to drag the red target. I've found wick over wick formations in an up trend, but I'm lost where to place my long tool for assistance on when to buy/sell. Thanks again for this video and I plan on watching the rest of your vids. I gave you a like and a follow!
ocaptain
⋅
@Roid_Rage, Hey, RR! What you are asking is "How do I come up with a good trading system" and that's the big question we are all asking, isn't it? :-)
Some people use indicators. Some (like myself) use simple, naked price action (read my review of the book Price action Breakdown). Others watch the news and make trading decisions based on that. I have followed in some trader's footsteps and found that their system, though successful for them, didn't work for me. What I decided I had to do after studying the markets and a good number of systems is that I had to sit down in front of the computer and through brute force, trial and error, come up with a system that worked *for me*. As I like to say, "Trading is easy... but *becoming* a trader is hard." Yes, very hard.
So, to answer your question, I would start with the book I mentioned above:
After that start looking for patterns, practice using the Long/Short tool to find trades and a Backtesting system/spreadsheet to test your system. Keep posted with my updates so we can continue on this journey together and and I look forward to continuing to share my own experiences, and I may eventually start a trading group as well to help people such as yourself to make the markets even clearer so we can "find the money" every day.