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Let science make you wealthy step by step. Don’t ever think you are smarter than any other trader because no one knows what is going to happen next
So it’S better to be next to those wise traders who win, because they are disciplined have spent a long time practicing before doing anything real on their money
It is not too long ago when veteran traders used to draw trend lines using pen and paper
Market data was sent by physical mail to them and there was no computer and trading desk
Where a trading strategy is introduced as a reliable method of making money for traders, there are some questions that must be asked to evaluate the accuracy of the given strategy
• Is it a trend or a range market based strategy? • If it works as a trend based strategy, what can the strategy offer to trade around range markets and vice versa for the range market strategy?
• Is it a day trading strategy? • If it is an intraday trading strategy how many hours are required and what exactly should I sit down and watch the screen?
• If it is a long term strategy, what is the estimated possible drawdown in pips? • Are there any money and risk management rules attached that are specifically tested on this particular strategy? • What is the average\highest\lowest risk to award ratio of the last year’s trade?
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