Forex trading live calls and set ups

I am thinking of closing this thread (Beachtrader voted a No)

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redart said:
I dont know much about that software.
I just assumed that unless ones strategy is based on common, ready made indicators that all platforms have, as opposed to patterns in price or even custom indicators, then surely you'd need to be able to understand, read and write code?

This interests me because i'm in a similar situation.
In order to move on a little I need to further analyse my methodology, but I cant program/code at all, and that leaves me having to manually go through charts at a snails pace to get an idea of how best to manage my trades from a statistical point of view ('best' stop size, profit targets etc etc)
Click to expand...

I haven't bought the software yet, but as I understand it, forex tester 2 gives you historical data from 2001 to the present from tick data to monthly. It has a bunch of readily available indicators, I have no idea if it can be programmed to accept new indicators. They have a free trial I believe. Fortunately for me all I need is the ability to draw lines and look at candles, maybe plot fibs.....well at least that's where I'm trying to get to.

edit: I want to go through the charts bar by bar, so maybe it might not be the best thing for you. Somewhere there has to be an EA tester or something that will fit the bill.
 
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So you'd only really be using the software to make use of lots of historical data? But it would still involve you manually going through all of the sessions and doing it all by eye as opposed to explaining your method using lines and candles to the software in programming language and then sitting back whilst the PC does all of the work/testing for you.
cheers
 
redart said:
So you'd only really be using the software to make use of lots of historical data? But it would still involve you manually going through all of the sessions and doing it all by eye as opposed to explaining your method using lines and candles to the software in programming language and then sitting back whilst the PC does all of the work/testing for you.
cheers
Click to expand...

Well when you put it THAT way...lol.
I guess I'm making an assumption that I have no idea is correct or not. I assume if I manually backtest bar by bar the snails pace way that I will eventually gain not only measurable data but also get a "feel"'for things. It could be a monumental waste of time or it may be exactly what I need. Honestly I have no idea right now. Someone on another forum called manuel backtesting "building your own Frankensein". Try things untill it doesn't work, chop off the parts that don't work and replace them with ones that do.
 
The difference between the computer doing the backtesting and you doing it yourself is the computer is emotionless. Even if the backtesting on the computer shows great results there might be a time when it loses 10 in a row. The computer won't give a rat's a55 and continue on merrily. Doing it yourself will give you a better idea if you can stomach the string of losses, even if they are all small losses.

How I approach it is if the computer backtesting looks promising then I'll dig in deeper on my own. If the computer backtesting shows a straight line to zero, then I curse, kick, and scream, toss the system, and start all over.

Peter

ADDED: When those times come around where it seems I am on the down ramp of a fast roller coaster I keep reminding myself if trading was easy then everyone would be doing it.
 
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Rooster34 said:
Well when you put it THAT way...lol.
I guess I'm making an assumption that I have no idea is correct or not. I assume if I manually backtest bar by bar the snails pace way that I will eventually gain not only measurable data but also get a "feel"'for things. It could be a monumental waste of time or it may be exactly what I need. Honestly I have no idea right now. Someone on another forum called manuel backtesting "building your own Frankensein". Try things untill it doesn't work, chop off the parts that don't work and replace them with ones that do.
Click to expand...

cool.
I dont think its a waste of time. If it is, then i've wasted lots of it myself! I've done the manual/snails pace thing quite alot in the past. And yes, there is the possibility of better understanding the nuances of your method when you are staring at the setups as you scroll through months and months of data.
Anyway, was just curious as I'm often thinking about the testing side of things to optimise results.
good luck.
 
redart said:
cool.
I dont think its a waste of time. If it is, then i've wasted lots of it myself! I've done the manual/snails pace thing quite alot in the past. And yes, there is the possibility of better understanding the nuances of your method when you are staring at the setups as you scroll through months and months of data.
Anyway, was just curious as I'm often thinking about the testing side of things to optimise results.
good luck.
Click to expand...

Cool :)
 
wackypete2 said:
The difference between the computer doing the backtesting and you doing it yourself is the computer is emotionless. Even if the backtesting on the computer shows great results there might be a time when it loses 10 in a row. The computer won't give a rat's a55 and continue on merrily. Doing it yourself will give you a better idea if you can stomach the string of losses, even if they are all small losses.

How I approach it is if the computer backtesting looks promising then I'll dig in deeper on my own. If the computer backtesting shows a straight line to zero, then I curse, kick, and scream, toss the system, and start all over.

Peter

ADDED: When those times come around where it seems I am on the down ramp of a fast roller coaster I keep reminding myself if trading was easy then everyone would be doing it.
Click to expand...

Amen. :eek:

edit: I would love for this buisiness to be boring and easy. It ain't!!
 
Morning guys

Im almost scared to call today, 4 out of last 5 losers, down over 100 pips this week.after such a good time the last couple of weeks.Some one cheer me up and tell me how good i am:)
 
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