Perhaps if a trader is able to identify whether a pullback or a reversal with reasonably high (not necessarily perfect) certainty/ probability, he would be richer than Bill Gate easily. :D
Looking at % return alone would be the very first step advancing to further hard works. :D
Search and study. Good luck to your myth finding journey! :)
"A good trader must have a personality that is always honest with himself?"
http://www.elitetrader.com/vb/showthread.php?s=&postid=1103886#post1103886
:confused:
NN,
Do you have any ideas why usually a trading mentor/ guru not to run concurrently a trading signals service in order to prove his creditability and earn more money at the same time? :confused:
Jack's telling people that his methods cannot be backtesed and backtesting is not useful would be a good way to drive people to pay more attention and follow him without too many questions.
Perhaps he uses backtesting at home frequently. :D
Not sure, for a 24/7 forex market. What EOD is for retail spot forex? Should it be the Asia open GMT 00:00 (20:00 EST NY)?
Probably it doesn't matter too much, I think.