Create a new trading strategy in 10 steps #203

<p>How you create a good trading strategy in 10 steps:</p> <ol><li>Think about the idea and premise of your setup (trend following, breakout, reversal, day trading, swing trading, etc.)</li> <li>Write down some basic rules for entry, stop, target</li> <li>Find 10 - 20 screenshots of the perfect trades based on the previous rules and premises</li> <li>Analyze the collected screenshots and write down what they have in common</li> <li>Update your rules from step 2 and get more precise based on steps 3 and 4</li> <li>Now do a backtest and find at least 30-50 trades in the backtest</li> <li>Analyze the backtest results and adjust rules if needed</li> <li>Do another backtest and start experimenting with different exit, stop, and target strategies</li> <li>Find the optimal set of parameters and write out all final rules</li> <li>If backtest shows profits, then take it on a demo account</li> </ol><p> </p> <p> </p> <p>Do you want to get more trading tips and insights from me?</p> <p>Then take a look at my weekly trading newsletter which I am sending out every Thursday:</p> <p>► <a href='https://tradeciety.com/elite'>https://tradeciety.com/newsletter</a></p> <p> </p> <p>################</p> <p>Our premium trading offers:</p> <p> </p> <p dir="ltr">Edgewonk trading journal:</p> <p dir="ltr">► <a href='https://www.edgewonk.com/'>https://www.edgewonk.com</a>  *** use discount code: tradeciety ***</p> <p dir="ltr"> </p> <p>Our new mentoring program for traders:</p> <p>► <a href='https://tradeciety.com/elite'>https://tradeciety.com/elite</a> </p> <p> </p> <p>My trading course bundle:</p> <p>► <a href='https://ultimatepriceaction.com/'>https://ultimatepriceaction.com/</a></p> <p> </p> <p>################</p> <p>► Risk Disclaimer: <a href='https://www.tradeciety.com/risk-disclaimer/'>https://www.tradeciety.com/risk-disclaimer/</a> </p> <p>Disclaimer: The experience reports and comments constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments