While today may be Presidents' Day in America, for me its Groundhog Day. These holiday days are always the same for me, at least most of them are. I use them for back testing.
The one thing that throws me, and most other people, off is the unknown. Fear of the unknown. The thing that makes me able to pull the trigger on a trade is the sure knowledge of my Trader's profile: my win rate, my drawdown, my maximum loss per trade, all my trading stats. I trade within my expectations.
I have a bunch of traders that I am mentoring and the answer to many of their questions is a one word solution: BACKTESTING.
Backtesting tells me what works and what doesn't. Backtesting tells me whether I should enter aggressively or not. Backtesting tells me how far out of the action my drop dead stop should be and backtesting tells me how large my average trade needs to be.
Backtesting and SIM trading are part of the roadmap to CP.
Taking it easy today, so no chart.
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