Happy New year everybody. Since it's the start of the new year, I thought I'd give you guys an update. This first week of trading has been great, I've made 245 pips. I am trading a new plan that I've developed over the holidays. It's a very simple system that uses fibonacci based patterns and structure analysis. Overall, it took me 20 hours to back test this system. As many of you know, back testing is an important skill. Engaging in back testing guarantees on making profits or losing money. It will show you if you are making profitable gains or not. If you are trading a system that you have not tested, then you should stop trading. It is crucial that you do your testing. It will help you find out what to expect in your system. These include things like your win/loss percents, max draw down, etc.
If your new to trading make sure to get yourself educated. There is some free training and even course available on my website.
Till next week guys. Always trade your plan.
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Dustin Pelletier Head Trading Coach at Trading Gains.