moonchild
VIP Contributor
When I was starting out on Forex I was very addicted to strategies and I can't take my mind off YouTube, I'm always there trying to find a new strategy to milk the market, this was my routine for a very long time, I didn't regret it though because that was how I met my mentor.
But there was a pattern that I just discovered and I found out that a lot of newbies experience it too.
And that is, after getting a particular strategy and after testing out on demo or whatever, the performance would be excellent and you'll be very happy like a child that just got a new toy haha.
But after back testing it for some time say a week or a month you'll find out that it is not effective at all and it's not working or stopped working completely.
This is because most of these strategies are just bunch of lagging indicators that are not really predicting the market but using past market moves to dictate the future this is bad because the market is dynamic and it does not follow rigid rules.
The best thing to do is to learn technical analysis in depth and just use indicators as confluence not really entry and exit signals
But there was a pattern that I just discovered and I found out that a lot of newbies experience it too.
And that is, after getting a particular strategy and after testing out on demo or whatever, the performance would be excellent and you'll be very happy like a child that just got a new toy haha.
But after back testing it for some time say a week or a month you'll find out that it is not effective at all and it's not working or stopped working completely.
This is because most of these strategies are just bunch of lagging indicators that are not really predicting the market but using past market moves to dictate the future this is bad because the market is dynamic and it does not follow rigid rules.
The best thing to do is to learn technical analysis in depth and just use indicators as confluence not really entry and exit signals