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boyLoyTRADER
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Your duty as a trader is to be patient and follow your rules and nothing less than that.
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There is a time to buy, a time to sell and a long time to wait. Yes, that's trading
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WHY BACKTEST STRATEGY ARE VERY IMPORTANT FOR TRADER? Backtesting is a manual or systematic method of determining whether a trading strategy or trading setup has been profitable in the past. A trader should backtest a strategy to help determine if a trading strategy is likely a waste of time and money, or if it shows promise and profitability in a variety of markets. While you can get software that does systematic backtesting… we prefer manual backtesting as it can be carried out by any type of trader, It is a key component in developing an effective trading strategy. There are infinite possibilities for strategies, and any slight alteration will change the results. This is why backtesting is important, as it shows whether certain parameters will work better than others. HOW TO BACKTEST: 1) You need data to use in testing… if you are testing short-term strategies on small timeframes then use at least a few weeks of trading data. If you are using higher timeframes, you should use years of trading data. 2) Define the strategy parameters—entry conditions, exit conditions, etc. 3) Analyse price charts for entry and exit signals. 4) Once you have completed this process, you can start to total all the trade results to see how profitable or unprofitable your trading strategy/setup has been over time.
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THE TWO TYPES OF INDICATOR IN TRADING: 1. Leading indicators are considered to point toward future events. Example: RSI (Related Strength Index) 2. Lagging indicators are seen as confirming a pattern that is in progress. Example: SMA (Simple Moving Average).
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This set up is invalid now. This bullish trend is still continue
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$BTC Swing trading update..! 🧧 BTC competed for 5 impulse waves in the uptrend. The bearish RSI divergence is a powerful trend change signal from bullish to bearish. Now bitcoin may drop some prices to 52K. DO YOUR OWN RESEARCH BEFORE TRADING OR INVESTING.
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