Section 2: Testing & Improving the trading plan (videos released weekly)
Having a trading plan is only the start of your journey as a consistently profitable trader. Market conditions change all the time, thus we need to be able to adapt and improve to stay in the game. In this section, we talk about how to objectively test and improve your trading plan.
Use MyFXBook to track your progress
There are many third party tools and sites that can help provide more information and analysis on our progress. In this video we discuss some of them and how to link your live accounts with them.
Back & Forward testing
In this video, we learn the importance of back and forward testing. We'll see the difference between them and learn how both are done properly.
How to adjust and improve your trading plan
Look at your plan from an objective point of view. Break it down to smaller pieces and see how these can be adjusted and improved individually before providing confluence to the rest of the plan.
Use appropriate strategies on the right market conditions
All strategies have specific market conditions that they work well with. It's important for us to identify where our trading plan works best and only use it when market conditions are aligned with it.