Keep reading good books by authors that actually have something to say. I'm actually glad to see you reading so much about trading, personally. I've been doing developing my trading ability for the past 7 years on a full-time basis. It is not easy to get up to speed such that you become part of the top 5% percent who actually make it off Wall Street. I would probably put that number closer to 3.75% for off Wall Street types. Mot people fail - mostly because they give up too soon, thinking that in just a few weeks or months or even in a couple years, they will know enough to be able to quit their day jobs and retire. That's happens to a handful of select people who jumped into a market that was screaming UP with no DOWN in sight, continually went Long and continually won - thinking that life as a trader in Down and Sideways markets would be the same. They made their millions, exited the business and started writing books telling everyone how easy trading can be. Typical.
But, for those of us who have been around for years, in sideways, up and down markets, through recessions, stagflation periods, war, rumors of war, acts of terrorism, Presidential election cycles, etc., we know how difficult it is to be really good at this stuff for long periods of time. Only the best of the best can do it and sustain it.
You said you like to test on live data and that's a good thing, but it you are trading the currency markets, my strong suggestion to you would be to conduct your primary back-testing on historical data (by definition, of course), locate the signals or functions that are of most interest to you and then push those into some live data testing (forward testing by definition). This will save you mega time and it will flush your best concept to the surface faster as you can always do more back testing than forward testing in any given time-frame. Tips like these will help fine tune your progress.
Also, keep in mind, that when it seems like there are no more good ideas in sight, that's when the next great idea is about to come along. It requires a never say die attitude to see that, but when it happens enough times to you when you are down and out with no more fresh ideas, then you will know and learn more about how the subconscious mind works, even when your conscious mind can push any farther. Allow your subconscious mind to bring to your conscious mind thoughts and ideas about newer paradigms and concepts for trading ideas - this is when you enter what I call the truly creative phase of your trading career as you will be most likely hitting upon some ideas that the vast majority of traders never see, because they never allow their subconscious mind to participate in the creative process, directly - nor do they understand how.
There is a lot more I could say, but I'll leave you with this: Never underestimate the power contained in using multiple time-frame analysis. When you find a new theory, tactic, function or method that works in one time-frame, test it in time-frames that are larger AND smaller than the one where you made the initial discovery. The supreme rule of consistency is touched upon when you can make discoveries that work in as many time-frames as possible with as little modification between time-frames as possible.
These are what I call Absolute Signals and they make up the bulk of my trading technology as they have staying power and endurance. And, never ignore the potential power of a high probability, larger time-frame as it relates to the position you take with respect to your currency pair or spot. Larger time-frames that are about to blow-off in a particular direction should not be ignored - they are the slower, but much more weightier 10,000lb elephants in the room that all too often people ignore in favor of the smaller time-frame signals and functions. Larger time-frames that are about to blow, have the tendency to push the signals you rely upon in smaller time-frames, into something of a time-warp, where the fundamentals that drive the smaller time-frame signals no longer seem to work. The truth is that they are still working, but their dimensions and parameters within which they work, are being smeared and skewed by the larger time-frame that is now on the move. So, pay close attention to the coupling of correlation be signals in smaller and larger time-frames or Bars of Data.
Anyway, I like seeing newer traders who understand that it does take time to master YOUR game in this business. So, I like to support those kinds of traders whenever I see them and when I have to the time to do so.
Good hunting!
