Lol finally. I'm sure there are some traders who would appreciate it if you could finish the previous series, I included. Either way this was great stuff Luke!
"A trading strategy is there to give you a statistical edge in the market if applied consistently. It is not a silver bullet that always works." -quote from video. Back testing helps us understand how often and why a strategy works or does not always work.
I hope you will go back to showing your live trading as before. I enjoyed how you'd stick to your trading plan whether you win or lose or missing a trade including your mistakes...
You videos are great and very informative, however would you be able to do a video ion choosing the right broker? There are so many to choose from and I can imagine for a small start up trader there are many pitfalls - broker fees etc. How did you land on your broker?
Hi, my advice when it comes to brokers is to choose one of the more mainstream ones. There tends to be a lot more reviews for the more widely used brokers so you can decide from the reviews if that broker is right for you. It's hard to give more advice than that. Your netter brokers will vary depending on what markets you are trading (different brokers will have better prices for different markets) etc. And it's worth remembering you aren't tied to a broker forever, if you choose one and don't like them just change to a different one.
Hi great video, thanks for sharing. I have a question, I can’t seem to find the answer on any of the thousand of videos I watched on back testing. My question is what time frame should I use to back test? For instance I stride to be a day trader and look to enter and manage my trades from the 5min time frame, should I use the 5min for my best testing or should I be using let’s say the H1 timeframe?
Hi Cierra, your question makes me think you don't have a well structured strategy as this would be something you would know if you did. This could be because you are back testing to build the strategy? If so, there's no right answer as to which timeframe you 'should' trade. Your testing should show you which works best 👍
Just seen your video on backtesting from 15th Sept 2020. Do you offer a copy of the more complicated backtesting excel sheet? Nice work with the videos, very informative and helpful.
Hi Alan, that spreadsheet was completely custom made specifically to backtest that particular strategy. It would be very cumbersome to try and use it for a different strategy as there is a lot of formula in it that wouldn't work properly. I have had a few requests for a back test spreadsheet so I will make one available for people in the near future. I will try and make it as multi-functional as possible. I'll make a video about it once it's ready. I'm currently working on some much improved trading journals which could also be used for a back test too 👍
Hi Luke, I'm slightly confused about back testing. I'm just starting out in researching a future in trading. The questions I have is, I've not made any trades so if I use historic charts, do they not give you an extensive range of trading. Where do you start to back test if the whole day is there. Thank you.
It doesn't really matter where you start Bob. You want to find out how successful your strategy is over a good sample of trades. It's up to you how you achieve that to be honest. You could start from a particular year or month etc and go from there
@@DisciplinedTraderUK all gd too, growing my small channel small small in this hard period we r passing in. Started some live Sunday sessions, would be nice if u pop in. Beside that nothing to complain about. 😉
Is there any platform that alows you to use replay button for free? Or at least platform that has timeframes like H12,H8, time frames between M 30 and M45, less than M1 etc. ?
Are you still trading, or has life got in the way :) I would understand if youre too busy, I help admin a trading forum and its so time consuming. I can only guess how long it takes you to make videos.
Hi Julius, yeah I'm always trading! I do a lot more swing trading than I used to which is a big reason why the day trading videos stopped. Yes you're right, the videos do take a good amount of time to make. I also don't like making a video just to upload something. I want them to be of a high quality and of genuine use. Hopefully that comes across!
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