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EP32: Helpful Trading Tips
Darren and Walter each share one helpful trading tip – one thing that has helped over the past month.
Walter talks about how his disciplined approach to back testing has helped and Darren dives into the deep thinking he’s been doing on the distribution of winners and losers.
http://media.blubrry.com/2traders/content.blubrry.com/2traders/2Traders_-_EP32_Helpful_Trading_Tips.mp3
Download (Duration: 09:13 / 10.5 MB)
In this episode:
01:33 – backtesting
03:00 – chipping away everyday
04:22 – distribution of winners and losers
05:20 – take a break
07:44 – psychological break
Tweetables:
Set a little bit of time aside every day to do your testing. [Click To Tweet].
It buys you time away from the chart. [Click To Tweet].
Make sure that the next day, you’re in your game. [Click To Tweet].
Download The Full Episode 32 Transcript Here
Darren: The problem is people wants some sort of certainty that they’re doing the right thing at that moment “Oh God well. It’s moving now I could miss out on another 2 pips.” Doesn’t matter, you’ve traded a period of the week. You’ve made some profit, an acceptable amount of profit for trading a week, have a break. Why not?
Announcer: Two traders, Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome to the Two Traders Podcast.
Walter: Welcome back to the Two traders Podcast. Darren and I are gonna do something different today. How are you going today Darren?
Darren: Yeah. I’m good Walter. Thank you.
Walter: Well, I thought it would be kind of cool if we did this: what’s something that you’ve learned in the last month and how did that one thing help your trading? I’ll start first and I’ll talk about this idea of just chipping away at your testing. For some people when I say go out and test, they’ll say “what should I do to get started? And I’d say “go out and test in Forex tester. Take 500 trades and see if you can make these work, if the systems work for you.”
What typically happens is people would either sit down for six hours. Back test the crap out of it. Grow a beard and either really get excited about it or really get upset because it didn’t work. Or they will start doing that for about 20-30 minutes and then say “this isn’t working”. Give up, move on to something else and maybe backtest something else.
Instead of these extremes of starting out or giving up versus just getting really deep into it.
What I found, if you just set a little bit of time aside every day to do your testing, it could be only 15 minutes right? Let’s say that 15 minutes, that adds up over 7 day a week right? So you’re spending over an hour just testing, just getting into your system. What you’ll find is that, after a month that really adds up and you’ll get the trades that you’re looking for.
View all episodes
By Walter PetersDarren and Walter each share one helpful trading tip – one thing that has helped over the past month.
Walter talks about how his disciplined approach to back testing has helped and Darren dives into the deep thinking he’s been doing on the distribution of winners and losers.
http://media.blubrry.com/2traders/content.blubrry.com/2traders/2Traders_-_EP32_Helpful_Trading_Tips.mp3
Download (Duration: 09:13 / 10.5 MB)
In this episode:
01:33 – backtesting
03:00 – chipping away everyday
04:22 – distribution of winners and losers
05:20 – take a break
07:44 – psychological break
Tweetables:
Set a little bit of time aside every day to do your testing. [Click To Tweet].
It buys you time away from the chart. [Click To Tweet].
Make sure that the next day, you’re in your game. [Click To Tweet].
Download The Full Episode 32 Transcript Here
Darren: The problem is people wants some sort of certainty that they’re doing the right thing at that moment “Oh God well. It’s moving now I could miss out on another 2 pips.” Doesn’t matter, you’ve traded a period of the week. You’ve made some profit, an acceptable amount of profit for trading a week, have a break. Why not?
Announcer: Two traders, Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome to the Two Traders Podcast.
Walter: Welcome back to the Two traders Podcast. Darren and I are gonna do something different today. How are you going today Darren?
Darren: Yeah. I’m good Walter. Thank you.
Walter: Well, I thought it would be kind of cool if we did this: what’s something that you’ve learned in the last month and how did that one thing help your trading? I’ll start first and I’ll talk about this idea of just chipping away at your testing. For some people when I say go out and test, they’ll say “what should I do to get started? And I’d say “go out and test in Forex tester. Take 500 trades and see if you can make these work, if the systems work for you.”
What typically happens is people would either sit down for six hours. Back test the crap out of it. Grow a beard and either really get excited about it or really get upset because it didn’t work. Or they will start doing that for about 20-30 minutes and then say “this isn’t working”. Give up, move on to something else and maybe backtest something else.
Instead of these extremes of starting out or giving up versus just getting really deep into it.
What I found, if you just set a little bit of time aside every day to do your testing, it could be only 15 minutes right? Let’s say that 15 minutes, that adds up over 7 day a week right? So you’re spending over an hour just testing, just getting into your system. What you’ll find is that, after a month that really adds up and you’ll get the trades that you’re looking for.