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Naked Forex: High-Probability Techniques for Trading without Indicators by Walter Peters, Alex Nekritin

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CHAPTER 3

Back-Testing Your System

You need to continue to gain expertise, but avoid thinking like an expert.

—Denis Waitley

The consistently profitable forex trader is an expert. Just as an expert farmer understands seeds and soil, and the expert mechanic can hear the difference between a blown gasket and loose muffler, the expert forex trader knows markets. Where does this expertise come from? How does the novice forex trader become an expert? This is the million-dollar question.

Make no mistake about it, when you step into any market, including the forex market, and decide that you want to make money, you have decided you will outwit and outperform some of the most determined, intelligent, and well-resourced people in the world. All these impressive people have one goal: to take your money. How can you make money in the markets, knowing whom you are up against? The answer is simple. Perhaps the answer is much simpler that you would believe.

You must practice.

Practice your craft. Practice your trading. This is the simple way to become an expert. Simple does not mean easy, because many traders expect to become experts without practice, and sadly they never achieve expertise. Consistently profitable trading is yours if you practice trading and become an expert.

You now have the secret formula to achieve consistently profitable trading. Will you use this secret? The best estimates suggest as many as 74.8 percent of traders do not use the secret. This is because 74.8 percent of ...

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