30/6 – More advice (to me) from experienced retail trader

Had a good skype catch-up with TraderDi a couple of evenings ago.

It had been a bit tough reporting on the last batch of testing (some 180 trades), the results of which were effectively scratch.  TraderDi’s main message was  for me not to despair, but to be objective about it all and to have confidence in myself and in the strategy that I am developing.

In her experience, many aspiring traders people are not able to fully navigate through a proper testing project – they find it too boring or too frustrating – and consequently end up trading with half-baked ideas, and unsurprisingly, become losing traders.  But if one is able to come out the other end, they will have a working strategy that they are confident in – a huge step of progress in one’s trading career.

It’s critical that i don’t join this batch of traders who give up along the way.  Interestingly, TraderDi has actually not been able to take many aspiring traders through the entire process, because they have given up beforehand.  She says as time goes on, my confidence in the strategy will increase

Apparently, my strategy is a good choice

She also actually quite likes my strategy – many other strategies that have been submitted to her have been based on weird ideas and needed immediate change recommendations from her – whereas mine was actually fairly reasonable.

I have to remember that my strategy has shown in profits in all phases prior to the most recent batch.  It’s weird that there should be such a significant difference in results between the final batch and the prior batch.  I should just have confidence that the strategy does actually work and steam on ahead.

My strategy has a lot of similarities to her bread & butter (trend-following) strategy, and as such assures that my strategy has positive expectancy.  I also have to remember that as yet, the strategy is not yet fully developed – and instrument selection is not final yet either

As a big bonus, my strategy also has potential to be applied on timeframes other than the 1H.


So the testing & development journey continues….



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