ilmscore | BEST FOREX PAIRS TO TRADE IN 2020! (The Answer Will Surprise You...)

BEST FOREX PAIRS TO TRADE IN 2020! (The Answer Will Surprise You...)

Published: 2019-12-11
Status: Available | Analyzed

Predictions from this Video

Total: 10
Correct: 0
Incorrect: 0
Pending: 10
Unrated: 0
Prediction
Topic
Status
Identifying currency pairs that consistently yield a 50-55% win rate with a 2:1 risk/reward ratio using a specific trading strategy will lead to the most profitable pairs for that strategy.
"If you go through and you test all these currency pairs and you have a few that give let's say a 60% well with a two-to-one risk reward probably be closer to a 50% you have a few that give a 50 to 55% chance of winning those few currency pairs are the best currency pairs to trade with this specific strategy"
Trading Strategy Effectiveness
Pending
The presented trading strategy (market below moving average, in trend, with specific candlestick patterns at structure) should be backtested on various currency pairs to determine its profitability.
"remember step 1 create the strategy or system or take and use this one I don't mind take and test this it may turn out profitable it's got good common sense behind it we're looking for a strategy where the markets below a moving average in trend by 1 2 3 move a good candlestick entry pattern like a shooting star at previous structure it's got all the makings of a good strategy it may be profitable I've never tested this specifically so you can take these rules and test them on a lot of different currency pairs"
Trading Strategy Backtesting
Pending
A trading strategy with specific rules (market below MA, 123 trend, shooting star at structure) shows potential and should be tested across multiple currency pairs.
"It's got all the makings of a good strategy it may be profitable I've never tested this specifically so you can take these rules and test them on a lot of different currency pairs"
Sample Trading Strategy Validation
Pending
A trading strategy characterized by price being below a moving average, a 123 trend pattern, and a shooting star candlestick entry at previous structure is considered to have the elements of a good strategy.
"we're looking for a strategy where the markets below a moving average in trend by 1 2 3 move a good candlestick entry pattern like a shooting star at previous structure it's got all the makings of a good strategy"
Sample Trading Strategy Performance
Pending
Becoming a professional trader requires significant effort and hard work.
"a lot of work is exactly what's necessary to become a professional trader"
Forex Trading for Professionals
Pending
Developing multiple trading strategies and testing them on a specific pair like EUR/USD can lead to identifying strategies that offer an advantage.
"you can take and create five different strategies test every one of them on the euro dollar and one of them is bound to give you an advantage or give you the opportunity to have an advantage over the euro dollar"
Trading Strategy Development
Pending
When backtesting trading strategies, a minimum sample size of around 100 trades is recommended for accurate results.
"you have to have a large sample size up a hundred trades is what I normally shoot for"
Backtesting Sample Size
Pending
A trading strategy should be strictly rules-based, defining actions for all trading scenarios.
"create a rules-based strategy that has rules for everything that you're looking for"
Trading Strategy Definition
Pending
Consistency in applying a trading strategy enables validation of its past performance, which is crucial for predicting future success.
"consistency will allow us to validate whether or not this specific strategy has worked in the past and if it hasn't worked in the past then there's no reason to assume it will work in the future"
Trading Consistency
Pending
Once a trading strategy is backtested and validated with a positive return on investment, it can be progressed to demo trading.
"then you now have something that you can take and test and you know is validated so you can take and start demo trading"
Trading Strategy Validation
Pending