In this Forex trading vlog, I answer the 5 trading questions I get asked the most. Vlog #578
If you have any other questions, comment below and like other people’s questions!
Timestamps:
00:00 Start of the video
01:02 How Do I Become A Consistently Profitable Trader?
02:37 Can You Give Me A Profitable Strategy?
Bollinger Bands Reversal strategy: http://d2t.link/bbr-strategy
05:14 How Long It’ll Take Me To Become A Full-Time Trader?
08:13 When Is The Right Time To Get A Mentor?
10:00 What Did You Learn From Interviewing So Many Traders?
Learning from highly successful traders: https://youtu.be/dGv8oaMbSK4
Work With Me To Get Profitable & Scale Up Your Trading: http://d2t.link/workwithme
// You Might Also Like…
– Professional Trader’s Success Story – Courtney Smith: https://youtu.be/11RG_kg5m6A
– FUNDED TRADING ACCOUNTS: What No One Tells You!: https://youtu.be/CL73FY9nLsE
– “Train your Mind to Make Money!” – Rande Howell: https://youtu.be/qq-_QuO2qRM
– 3 Apps Every Forex Trader Needs To Be Successful (2020): https://youtu.be/09XnQzm18jc
– The True Life of a Forex Trader | Forex Trader Motivation: https://youtu.be/ZH8A8TZs948
// SOCIAL
Forex Trader Community (Facebook Group): https://desiretotrade.co/FBgroup
Facebook: https://www.facebook.com/desiretotrade/
Twitter: @desiretotrade
IG: @etiennecrete
// TRADING MUST-HAVE RESOURCES
Forex Broker (Pepperstone): https://desiretotrade.co/pepperstone
Forex Broker for Canada (Axi): https://desiretotrade.co/axitrader
Best Platform: https://desiretotrade.co/tradingview
Backtesting Tool: https://desiretotrade.co/soft4fx
VPS (for algo trading): https://desiretotrade.co/vps
Trading Journal: https://desiretotrade.co/journal
// MUSIC
David Cutter Music – http://www.davidcuttermusic.com
Andrew Applepie – https://andrewapplepie.com/
// ABOUT ME
My name is Etienne Crete (from Montreal, Canada). I’m a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That’s why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
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Forex Algorithmic Trading Questions, Top 5 Forex Trading Questions I Get Asked | Honest Answers.
I am a quant at a major BHC in threat management. Hours often tend to be reasonable, but vary via the seasons. Many banks are affected by the CCAR anxiety screening process which often tends to lead to lengthy hours. I work with some individuals functioning 6-6, 5-6 days weekly.
When you prevent the common mistakes in algo trading, it is time to create strategies in a controlled, repeatable process. I call my process a Method Manufacturing facility, where trading concepts been available in as resources, “equipments” transform concepts into fully examined strategies, as well as what leaves the factory is either a tradable method or a discarded scrap method. The actions I make use of to produce a strategy are provided below.
The process begins with goals as well as goals. Like driving a cars and truck to a destination, you need to recognize where you intend to end up prior to you begin.
Recognize the market you intend to trade, and also the annual return as well as drawdown you want. You can have much more goals than that, so that is truly the bare minimum. Having strong goals as well as goals will certainly help you recognize when you need to be satisfied with the trading algo you developed, as well as will certainly help you prevent many of the mistakes explained previously.
Next, you require a concept to construct a strategy with. This does not suggest you require to create a whole financial theory for your method, but it also indicates that randomly producing concepts (such as: get if the close of 53 bars back is more than the close of 22 bars ago) possibly will not work.
The most effective concepts have an explanation behind them. For example, “cost moving up often tends to maintain moving up” could be a good concept to code as well as develop into a strategy. The great point is concepts are anywhere, as well as you can simply customize the concepts you find, tailoring them to fit your desires. Last note: constantly be on the lookout for trading concepts. You will certainly require to check a great deal of them to find a good one.
The following action is to historically check your method. I typically run this as 2 separate actions. First, I run a little range test over a couple of years of data, to see if my method has any quality. Many strategies fail this action, so it conserves me the time as well as aggravation of a full range test. I also customize the method at this point, if I require to. I can do this without concern of overfitting or curvefitting the method to the historic data, given that I am just making use of a couple of years of data.
When I have a successful first test, I after that do a more comprehensive test. I make use of a process called walkforward screening, which is superior to a traditional enhanced backtest. You might also do out of example screening at this point. The key is not to check excessive throughout this action. The even more screening you do, the most likely your model is mosting likely to be curve or overfitted.
After I have a successful walkforward test, I run some random Monte Carlo simulations with my model, to establish its go back to drawdown qualities. You intend to have a trading system that supplies an acceptable go back to drawdown proportion or else why trade it? The flip side, however, is that if the return/drawdown is also good, it typically indicates a trading method that has actually been overfit (reviewed previously as a “also good to be real” trading system).
With historic backtesting finished, I now see the trading method live. Does it break down in real time? Many poorly constructed strategies do. It is very important that you verify that the trading system still carries out well in the live market. That makes this action very vital, although it is exceptionally difficult to do. Nevertheless, who intends to spend months seeing a trading system they just developed, rather than actually trading it? But patience is crucial, as well as believe me when I say doing this action will certainly save you cash over time.
The final hurdle prior to transforming the method on is to take a look at as well as compare it to your existing portfolio. At this point, you intend to guarantee that your strategies have low connection with each other. Excel or other data evaluation software is suitable for this job. Trading 5 bitcoin strategies all at once is meaningless if they are highly correlated. The concept behind trading multiple strategies is to reduce threat via diversification, not to focus or magnify it.
Naturally, at the end of development, if the method has actually passed all the examinations, it is time to transform it on as well as trade with genuine cash. Typically, this can be automated on your computer system or online exclusive web server, which frees you up to create the following method. At the same time, however, you require to put checks in place to keep an eye on the live strategies. This is critical, but the good news is it is not a difficult task.
Understanding when to turn off a misbehaving algo method is a fundamental part of live trading.
Explore Popular Articles Related to Forex Algorithmic Trading Questions and Financial market news, evaluation, trading signals as well as Foreign exchange financial expert reviews.
Please note that trading in leveraged items might involve a substantial degree of risk as well as is not appropriate for all financiers. You need to not run the risk of greater than you are prepared to shed. Before making a decision to trade, please guarantee you recognize the threats entailed as well as take into consideration your degree of experience. Look for independent suggestions if necessary.
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