There’s only one piece of advice that you need in this business, or any other endeavour in your life, for that matter.
Ask yourself everyday: “Am I acting like a cunt?”
If the answer is yes, do something about it.
ASAP.
If you're trading any liquidity concepts and your only aim is to catch 1-minute BOS after an inducement/raid/sweep of high/low, then trendlines will be a better choice.
No, you don’t know the exact reason why the market went in that direction. Don’t be arrogant; the odds were just in your favor.😊
This is what trading is about. Don’t think you know something more, something secret. The goal is to be profitable, not right.💰
5) Don’t lean on backtesting results too much.
Backtesting is not your live performance. There are no slippage, spread, or commission factors. So if your backtesting results don’t have enough room for some percentage down, you need to improve your strategy and edge!
🚨THREAD🚨
Quick backtesting tips:
1)You need to know what you want to backtest.
It can be just finding out performance or refinements of the model, or further gathering data on your trading plan.
But don’t backtest just for the sake of backtesting!