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This podcast is brought to you by the
award-winning prop firm, Fidel Cret.

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And it's for entertainment
purposes only. Even.

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That going back in the contest in
2020, when as time went on, I'm like,

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why am I wasting my time with other
things other than the pound yen?

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Like you can trade just that.

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Or I could trade 5, 10,
15 versions of that.

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So I'm diversifying in a way,

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but I'm diversifying on something
that actually moves. You know,

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it's no different than stock market
if you want stuff to move, you know,

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how about looking at something
called Tesla, perhaps, right?

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And all of that research is better than
buy and hold on any way you look at it.

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Anyone who likes buy and hold, just
do a little research. You find that,

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and it's some sort of trend
following. Beats it by three to one,

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depending on the research
you're looking at.

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If you're gonna be a trend follower, put
it on something that trends, Hmm, and,

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and I didn't know why I was messing
around with the Euro Cheff, for example,

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when the pound ya was literally
20, 30, 50 times better.

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And then my third one is, and it's the
best back testing method ever invented.

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And we're gonna reveal it here
with just me and you. That is.

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Episode 218, right folks?

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We've got Scott Welsh back on
the show for a third time now,

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if you dunno who he is, he came
second in the Forex Trading World Cup,

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probably the hardest trading
competition out there.

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And he took it again last year. You're
gonna find out how he went in, uh,

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that cup as well as we dive deep, deep,

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deep into what he does to come up with
strategies to approach not just the cup,

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but just trading in general. Now,
there's information in here for you,

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algo traders, you manual traders.

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There's a ton of stuff in there
for you guys as well. And, uh,

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if you are looking, if you're a manual
trader looking to get into algo trading,

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then I want to tell you about three
things that I've got going on there on my

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Robot Builders Club. So the things
expanded. We've got a $1 trial.

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So if you want to check that out, go and
click the links down below the video.

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You'll clearly see it on
the podcast description. Uh,

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we've got a $1 trial on my robot lab live.

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We've got the bootcamp where you can
quickly for you're a self starter,

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get going yourself. And then all, also
we've got the Robot Builders Club,

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the big main thing where you
get the full on treatment. Uh,

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we are doing weekly live calls.
We're having a great time over there.

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There's another thing as well where
you can actually get funded, uh,

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completely automatically.

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So go and check all of that stuff out
there over on trading Nu Links under the

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video or podcast description right now.

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Couple of other things that I wanna
tell you about before we dive in.

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I've got a video coming up where I
try and make five grand in a week

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using scalping software inspired
by a Singaporean H f t prop firm.

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So that's coming up. Be sure to check
that out. Also on the live streams,

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we've got a couple of guys going for it
and you guys can take a part in this as

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well. They're going to try and pass
the 50 K funding funded challenge for,

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for Dell Crest. Okay? So if they pass it,

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they're actually gonna
get a thousand bucks each.

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If you guys wanna take part in that,

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I'll put a link to the entry form below
the video or podcast description here so

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you guys can dive in there
and take part in it as well.

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You've gotta come on the live stream,

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which is the kind of cool thing cuz
everyone else gets to take part in it as

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well. Alright folks, enough.

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From from me, let's get
on with this interview.

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Fidel Crest is an award-winning pro firm
that funds traders with up to 2 million

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and offers generous
profit splits up to 90%.

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So one thing that really sets Fidel Crest
apart is their no minimum trading days

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requirement on their challenge and
verification stages. On top of that,

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traders who successfully
pass the challenge of
verification stages are eligible

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to receive a bonus payout of up to 30
K on top of their funded stage profit

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split payout on performance.

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And be sure to use promo code trading
that all One word to get 10% off your next

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challenge. Click the link
in the description below
or the card above to find.

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Out more. Alright folks,
here we are on Trading Up.

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We've got a familiar face in the house.
We've got Scott Welsh back on the show.

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He's been on it a couple of
times before. Last time you, uh,

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you were had just placed second
in the Forex trading World

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Cup, and that was about two years ago
almost to the date of this, uh, of yeah.

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Of to today's date. So welcome
back to the show, Scott.

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I know it doesn't seem like that
long. I I missed talking to you,

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so I'm glad to be back. Yeah.

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It doesn't seem that long. It doesn't. I
I think that whole pandemic thing just,

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just like shrunk time for
everyone. Yeah. Um, so.

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Had a good time warp.

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Yeah. So, so you play second
mm-hmm. <affirmative>, uh,

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which is a phenomenal achievement
for that four x trading World Cup.

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You then I found out just before have
had another crack at it in the past

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like year for the next one. How did
that go and what, what sort of, what,

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what learnings did you take
from that second attempt?

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I don't know why this popped in my head,

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but there's a scene from an old movie
Glory with Denzel and a young Denzel

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Washington,

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and they're in the tent and the Civil
War film and they're in a tent and people

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are saying, you know,
what'd you do? And they're,

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these are down on the luck people,
they're soldiers, you know,

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coming from the country, whatever. And
Denzel wa they said, what'd you do?

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He goes, well, I ran for president. And
everyone kind of said what? He goes,

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didn't win though.
<laugh> <laugh>, but you,

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that's what that question reminds
me. I did, I did run last year.

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I did run it back last
year, um, through March.

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I think I was in the top five at
one point, right? And then, uh,

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just didn't happen. It just faded.

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I stayed very flat lined
the rest of the year, uh,

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faded a little bit at the
end, made money. But alas,

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I did not get the top five. I
was so sad. I cried for a month.

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And, and did you, uh,

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use the same strategies and stuff you'd
used on the prior one when you played

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second or was it different?

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No, <laugh>.

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I had a brand new robot that
I was so excited about. Um,

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the testing on it was great.
It had been doing, you know,

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doing well right before,
uh, 2022 started. Uh,

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I had never in any of my systems
used any sort of money management.

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So meaning one trade, you're in it
till the end, don't take any off,

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don't scale any back. Don't, you
know, don't lag in or leg in.

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So this one actually, you know,

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scaled out a little bit and it scaled
out when you won and it scaled out when

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you, a little bit when you lost.

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And I was just so excited
about it because it,

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as you might expect, it eliminates
drawdown or at least doesn't eliminate,

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but it cuts it down quite a bit.

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So the ones I use for the
contests that I did well are

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big stop losses and you just let it
run and you can take bigger losses,

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but you can also get huge wins. And
of course when you start scaling out,

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then you take a little bit here,
you take a little bit here, yes,

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your winds are smaller, but oh, a
trade that turns around, you know,

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now I made a little bit of money,

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I was just excited about it and for
three months it was doing okay. Uh,

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but it turned out that was not the one
to use in 2022 for whatever reason, uh,

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bank of Japan started messing
around with the pound yen,

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so did the Bank of England for that
matter and scaling out and not going for

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big wins. Um, it didn't work
that great cuz it turned twisty.

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So I never really got a big win.

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And I got a bunch of smaller little wins
and I got pecked at a little bit and

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ended up, so I would've done
better with another strategy.

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I actually might've
contended <laugh>. Yeah.

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But I wanted to trade this so bad cuz I
loved how it traded and it just didn't

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do as well. I, I, I made a joke
on my free newsletter or whatever.

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I had 14 strategies at
that point that I loved.

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And the one I picked in the
contest was 14 of my 14 <laugh>.

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Picked. Oh, right. Number four. I.

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Picked the absolute worst one. So yes,
I beat the stock market, I made money,

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nothing to cry about,

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but it was tough to see some of my
other strategies do very well. And,

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and then I picked the new one
that, that that was just an.

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Okay. Well, what we're
gonna do today folks,

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is we're actually gonna sort
of dive into a lot of, uh,

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what Scott does around picking
these strategies, finding them.

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He's got 14 of them, as you've heard. Uh,

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now if you are not an algo
trader and you are thinking, oh,

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I'm gonna turn this
off, don't turn it off,

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because there will be a whole bunch
of stuff in here that you'll actually

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probably pick up and find that it's
gonna be useful for your manual trading,

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for your statistical stuff, analyzing
what you do and all that sort of stuff.

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So, um, even though we are gonna
dive deep, it is gonna be very,

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very useful and I promise you
that much. So to start off with,

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um, I've watched a few of your
videos recently and seen, uh,

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how you go about selecting a strategy
that is something you're gonna possibly,

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you know, move forward
into the next phase.

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Now you've got a unique
method whereby you just

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run it and if it works without
any tweaking, you just gonna,

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and it works across a number
of different currency pairs,

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you're gonna run with it. Right? Is this
something that you keep, you still do?

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I mean, is is this your sort of approach
or can you explain your approach now?

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Uh, it's pretty similar, yes. Uh,

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there's only one minor change that I've
made lately and I've written a lot about

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it. Maybe even talked about it too,
on, on the YouTube channel. Um,

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but that's exa you're exactly right.

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I like to find general
principles that are timeless.

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So you're looking at
trend following, right?

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Trend following's the
most tested store. We,

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we have trend following data going
back 500 to 1200 years, right? <laugh>,

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where if you buy something that goes up
and and seems to work and all of that

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research is better than buy and
hold on any way you look at it. Uh,

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anyone who likes buy and hold,
just do a little research.

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You'll find that and some sort of trend
following beats up by three to one,

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depending on the research
you're looking at. Okay?

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If I'd like to start with that trend
following, I wanna follow trend somehow.

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And what I'd like to do is
once I go through a strategy

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that follows trends that gets big targets,

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I don't like to mess with it at
all. I want that to trade for years,

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literally for, for years
and years and years.

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And I used to then take those settings
and put 'em across a bunch of different

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currency pairs or even not currency
pairs in the stocks or futures, you know,

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the same concepts. And I wanted to see
proof of concept generally speaking. Um,

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but now recently I've gotten
really tired of putting in a,

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on a bunch of different
currency pairs. Um, I,

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my feeling is if you're
gonna be a trend follower,

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put it on something that trends Hmm. And,

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and I didn't know why I was messing
around with a Euro chef, for example,

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when the pound yen was literally
20, 30, 50 times better <laugh>.

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So right now I don't look at other
currency pairs. I mean barely.

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I look at the Euro yen sometimes
look at the Euro dollar,

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but my whole life and all my money
right now in fourex is one thing,

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something that trends
and that's the pound yen.

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Right? So,

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cuz I was gonna ask the question cuz four
X is typically mean reverting, right?

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So it, yeah, it doesn't typically
trend because it's a current, you know,

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their currencies now,
right? So, so you've,

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you've sort of distilled it down to just
trading one market in the four x space.

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Yeah, and I, I mean I've done, I've
tested 'em all and you know, you can,

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you can see the deep dive in the
rabbit hole. You can go into,

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you got at least 21 to 30 that are
viable pairs to mess around with.

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I mean, <laugh>, you start
testing 'em all and then, okay,

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well I want this to work over there,
but I want this to work over here.

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And finally I just got tired. I'm like,

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I'm even that going back in
the contest in 2020. You know,

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I I when as time went on, I'm like,

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why am I wasting my time with other
things other than the pound yen?

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Like you can trade just that,

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or I could trade 5, 10,
15 versions of that.

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So I'm diversifying in a way,

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but I'm diversifying on something
that actually moves, you know,

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it's no different than stock market
if you want stuff to move, you know,

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how about looking at something
called Tesla perhaps, right? <laugh>,

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why don't you put a trend
following strategy on Tesla
rather than something else

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that just a, a dividend stock for example.
Not there's anything wrong with that.

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So that's a long way of
saying, uh, I like, uh,

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my strategy to work
simply and be timeless,

214
00:11:33,580 --> 00:11:36,140
but right now I'm focused
just on the pound end. So.

215
00:11:36,140 --> 00:11:39,620
Does that mean, cuz I, I mean in the
video I saw you, you had like, you know,

216
00:11:39,620 --> 00:11:44,340
15 or 20 odd pairs that you were, you
were testing against and you know,

217
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you'd found a strategy that worked
across most of them and made money across

218
00:11:48,140 --> 00:11:50,940
most of them across maybe 10 years
or something like that. Mm-hmm.

219
00:11:50,980 --> 00:11:53,120
<affirmative>. Now with
that approach, approach,

220
00:11:53,300 --> 00:11:56,240
how do you sort of bring
that back to the pound yen?

221
00:11:56,820 --> 00:12:00,000
Are you just looking for something
that works on the pound yen now ver and

222
00:12:00,000 --> 00:12:01,680
you've scrapped all the
other pairs? Is that.

223
00:12:02,100 --> 00:12:06,190
What's you you hit it
Exactly. I used to run, um,

224
00:12:06,190 --> 00:12:10,590
I got some software, um, that would
run tests across many, many pairs.

225
00:12:10,930 --> 00:12:15,750
And so I'd run an idea and I'd run our
cost 20, oh, look at the results. Okay,

226
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great. And then I did it again
and again and again. Well,

227
00:12:19,430 --> 00:12:21,630
guess what's happening? I think, you
know, where we're going with this.

228
00:12:21,630 --> 00:12:26,590
And every single test pound end was
winning and not by a little <laugh>

229
00:12:26,600 --> 00:12:30,910
by a lot. I'm like, oh, look at this nice
balanced portfolio of currency pairs.

230
00:12:31,090 --> 00:12:35,910
But, you know, the reason I'm making
money is really due to one thing. Um,

231
00:12:35,910 --> 00:12:37,150
and so I just got, you know,

232
00:12:37,150 --> 00:12:41,150
after years and years literally of
testing all the pairs, you know,

233
00:12:41,150 --> 00:12:44,470
we're talking about in the last,
I don't know, 12, 14, 16 months,

234
00:12:44,790 --> 00:12:47,150
maybe less than that. But I
don't, I don't look anymore.

235
00:12:47,460 --> 00:12:51,950
What I do now is take an idea and I run
it across different timeframes of the

236
00:12:51,950 --> 00:12:54,510
pound again, but it, it,

237
00:12:54,860 --> 00:12:57,790
i I very rarely look at anything
else now in four x testing.

238
00:12:58,480 --> 00:13:00,910
So it's, it's very much
sort of like saying you,

239
00:13:00,910 --> 00:13:05,390
you've essentially said every four x
market or virtually every four x market is

240
00:13:05,390 --> 00:13:10,270
different and you are just
gonna look at one market,

241
00:13:10,270 --> 00:13:12,350
which has its own unique style and,

242
00:13:12,350 --> 00:13:15,990
but you'll find the same patterns
across the different timeframes for that

243
00:13:15,990 --> 00:13:18,110
particular market. Is that, is that,

244
00:13:18,110 --> 00:13:21,590
does that hold true in terms of like,

245
00:13:22,050 --> 00:13:25,470
you do see the same pattern occurring
and with, you know, you can,

246
00:13:25,470 --> 00:13:26,990
if if you're testing on a four hour,

247
00:13:26,990 --> 00:13:30,270
you can see the same result or a
similar result on a one hour or a,

248
00:13:30,440 --> 00:13:32,030
or an eight hour or something like that?

249
00:13:32,940 --> 00:13:36,830
Well, it's interesting. Uh, I know
exactly where you're going and I,

250
00:13:36,860 --> 00:13:39,190
I don't think that's exactly what I do,

251
00:13:39,190 --> 00:13:42,670
but the results are exactly
what you say. Um, for example,

252
00:13:42,700 --> 00:13:45,270
I tr I trade and test and,

253
00:13:45,290 --> 00:13:49,870
and update results and all
that stuff on 15 one hour,

254
00:13:50,460 --> 00:13:51,830
four hour and daily.

255
00:13:52,340 --> 00:13:57,070
I've got maybe 40 systems that, I mean,

256
00:13:57,070 --> 00:14:00,550
I've really spent time on that.
I track, I don't trade them all,

257
00:14:00,550 --> 00:14:04,390
but I track 'em and I release that to
members and so forth. And once a year,

258
00:14:04,390 --> 00:14:08,510
you know, I update that, whatever. So
I don't look for a pattern like say a,

259
00:14:08,510 --> 00:14:12,670
a certain pattern on the 15 and then
do the same pattern on the four hour,

260
00:14:12,670 --> 00:14:13,503
for example.

261
00:14:13,610 --> 00:14:17,750
But I will trade a breakout
strategy that starts on the 15,

262
00:14:18,250 --> 00:14:20,910
but goes for a massive profit target.

263
00:14:21,330 --> 00:14:23,710
And I will take trade a
breakout on the four hour.

264
00:14:23,710 --> 00:14:26,470
That also goes for a massive
profit target. So the,

265
00:14:26,470 --> 00:14:27,870
and then after 20 years of testing,

266
00:14:27,870 --> 00:14:31,270
they kind of end up the same even though
it's not exactly the same pattern.

267
00:14:31,650 --> 00:14:33,550
But it, it's surprising
that if you're going,

268
00:14:33,550 --> 00:14:36,630
if you're trying to follow the
trend and going for big wins, uh,

269
00:14:36,630 --> 00:14:39,510
you'll find some similarities that
no matter where you start, you can,

270
00:14:39,510 --> 00:14:41,710
it's just different ways
to get to that big win,

271
00:14:41,710 --> 00:14:44,230
whether you're breaking out on a
four hour chart, 15 minute chart,

272
00:14:44,230 --> 00:14:44,990
or daily chart.

273
00:14:44,990 --> 00:14:48,310
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280
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281
00:15:13,600 --> 00:15:16,800
Above. Okay. And so, so
you, you're like, when you,

282
00:15:16,800 --> 00:15:19,440
when you're coming up with these, you
know, cuz there's a big thing around,

283
00:15:19,540 --> 00:15:21,600
you know, keeping your strategies robust,

284
00:15:21,600 --> 00:15:25,800
especially around algo trading and not
curve fitting, not over optimizing them.

285
00:15:25,800 --> 00:15:27,840
Mm-hmm. <affirmative>, I mean
the irony is like, you know,

286
00:15:27,900 --> 00:15:31,720
how does this not sort of factor into
anyone who's manual trading as well?

287
00:15:31,720 --> 00:15:36,200
Because it should in theory.
Uh, so how do you, um,

288
00:15:37,140 --> 00:15:40,560
how do you sort of, when you are
testing out a strategy concept,

289
00:15:40,850 --> 00:15:42,120
be it a breakout or something,

290
00:15:42,120 --> 00:15:47,120
what do you do to make sure
you don't get a curve fit slash

291
00:15:47,140 --> 00:15:49,000
non robust output?

292
00:15:50,090 --> 00:15:51,750
And that's the question, right?

293
00:15:51,750 --> 00:15:54,670
That's the big fear that I get
emails on that all the time.

294
00:15:54,670 --> 00:15:57,390
I'm worried and I'm worried, I'm
worried traders are so worried we're,

295
00:15:57,390 --> 00:16:00,350
we're such a worrisome bunch,
right? <laugh>. Yeah. Um,

296
00:16:00,380 --> 00:16:04,270
here's how I combat it personally.
Number one, you take a timeless concept,

297
00:16:04,270 --> 00:16:08,070
that's always gonna be true.
So if trends exist now,

298
00:16:08,070 --> 00:16:11,190
I guess there could come a day where the
pound end doesn't trend anymore. Okay?

299
00:16:11,300 --> 00:16:15,590
I, I mean we've gone 20 years or
more <laugh> and it's still trending,

300
00:16:15,590 --> 00:16:20,310
so whatever, when is Apple gonna stop
trending? I mean, it's still trending, um,

301
00:16:20,310 --> 00:16:24,470
since 2004. But anyway, um, so yes, we're,

302
00:16:24,470 --> 00:16:26,350
if you take a timeless concept,

303
00:16:26,700 --> 00:16:31,110
your chances of it working next
year are pretty good because

304
00:16:31,490 --> 00:16:35,350
for my system to stop working
or at least producing profit,

305
00:16:35,350 --> 00:16:38,270
not gonna win every trade,
blah, blah, blah. But the pound,

306
00:16:38,270 --> 00:16:42,430
ya would have to go into a range
and then never leave, right? That,

307
00:16:42,430 --> 00:16:45,310
and that would be a problem. Then I'd
have to find something else to trends.

308
00:16:45,340 --> 00:16:48,150
I don't know what would cause
that. It's been an arrange lately.

309
00:16:48,150 --> 00:16:51,110
The bake inan is really playing, uh,

310
00:16:51,110 --> 00:16:54,030
doing some shenanigans and it
stays in a range. But guess what,

311
00:16:54,030 --> 00:16:57,270
what happens when it stays in a
range, it breaks out. So number one,

312
00:16:57,270 --> 00:17:00,150
start with a timeless
concept. Number two is,

313
00:17:00,150 --> 00:17:05,070
I don't ever take the best results
I on, I I test for consistency.

314
00:17:05,070 --> 00:17:08,990
I don't test for profit.
So what I wanna see is I,

315
00:17:08,990 --> 00:17:13,630
I wanna look at the 20 year back test
and I wanna say I don't want five losing

316
00:17:13,630 --> 00:17:18,350
years and then three massive years and I
will turn down the most profit over and

317
00:17:18,350 --> 00:17:23,330
over and over again as opposed
to this worked in 2008,

318
00:17:23,330 --> 00:17:25,970
this worked in 2009, this worked in 2016,

319
00:17:25,970 --> 00:17:29,930
which was the cra crazy pound Brexit
year, British pound Brexit year,

320
00:17:30,230 --> 00:17:34,650
did a trade 2018, did a 20, 20
20. Now we have a, an anomaly.

321
00:17:34,650 --> 00:17:38,570
And now 2022 with the bearish first
bearish market that some people have ever

322
00:17:38,570 --> 00:17:41,170
seen. And all I wanna
see is some consistency.

323
00:17:41,170 --> 00:17:43,930
I don't need it to make a million
dollars. So that's my other one.

324
00:17:43,950 --> 00:17:46,850
And then my third one
is, and it's the best,

325
00:17:46,850 --> 00:17:50,160
best te back testing method ever invented.

326
00:17:50,300 --> 00:17:53,280
And we're gonna reveal it
here with just me and you.

327
00:17:53,580 --> 00:17:57,240
And that is test a strategy and then
leave it alone and just watch it.

328
00:17:57,610 --> 00:18:01,700
That's it. Just watch it trade for
a year. I guarantee you'll find out,

329
00:18:01,700 --> 00:18:05,980
oh well that's, that's turned
ugly in a hurry. Or hey, you know,

330
00:18:05,980 --> 00:18:09,980
it's holding up. I mean, I, I, when
I write my newsletter, you know,

331
00:18:09,980 --> 00:18:13,260
I will start talking about strategies
that could be like six or eight years old

332
00:18:13,760 --> 00:18:16,060
and they've just been sitting
on my computer doing nothing.

333
00:18:16,480 --> 00:18:20,300
And then I'll be embarrassed
because they're just doing
incredibly good <laugh>.

334
00:18:20,440 --> 00:18:20,870
And.

335
00:18:20,870 --> 00:18:22,860
So, so you, so when you
say that, you mean like,

336
00:18:22,860 --> 00:18:27,060
so you'll basically test strategy go,
okay, this one made money outta 20 years,

337
00:18:27,060 --> 00:18:30,780
it made money at, at like 17 of
them mm-hmm. <affirmative>. So,

338
00:18:30,780 --> 00:18:32,460
and I don't care how much money it made,

339
00:18:32,460 --> 00:18:34,780
but it just made money
every year for 17 years.

340
00:18:35,330 --> 00:18:40,140
I then checked that on a V P S and
then hit play and just let it run

341
00:18:40,350 --> 00:18:40,700
or.

342
00:18:40,700 --> 00:18:43,020
A or a dedication. You
can do it that way. Yeah.

343
00:18:43,020 --> 00:18:45,780
And I trade it and I'm gonna try to
trade more and more strategies live,

344
00:18:46,270 --> 00:18:48,220
or I'm literally going through it,

345
00:18:48,540 --> 00:18:51,990
updating it every month on a back tester.

346
00:18:51,990 --> 00:18:56,630
Now people will freak out and say, oh,
back testing's not real life. Well,

347
00:18:56,630 --> 00:19:00,190
for me it always has been real
life. I don't, I don't know why. Uh,

348
00:19:00,190 --> 00:19:04,510
if you have 99% data
and you don't have, uh,

349
00:19:04,510 --> 00:19:06,750
a very complicated strategy, you know,

350
00:19:06,750 --> 00:19:10,350
my tested results have always
almost exactly my real life.

351
00:19:10,920 --> 00:19:13,630
So I can either a, just let
it run in the background,

352
00:19:13,630 --> 00:19:17,390
like exactly like you said, which
I do on trade station and I do on,

353
00:19:17,400 --> 00:19:20,710
on MT four sometimes too. Um, but,

354
00:19:20,710 --> 00:19:23,990
or I'm just constantly testing and
constantly looking at it and how did it do

355
00:19:23,990 --> 00:19:27,110
and how did it do? So yeah, either
way, either one of those is,

356
00:19:27,110 --> 00:19:30,310
is a great way to do it. And then
just check back in on it. Six months,

357
00:19:30,490 --> 00:19:31,270
one month. So.

358
00:19:31,270 --> 00:19:33,630
You, okay, right. So when,
so, so you might just,

359
00:19:33,960 --> 00:19:37,470
so you developed a strategy
say in, uh, in June,

360
00:19:37,610 --> 00:19:41,790
and then you might go back and test
it on the data from June till December

361
00:19:42,320 --> 00:19:44,910
or Jan or January and go,
okay, well that's six months.

362
00:19:44,910 --> 00:19:48,670
How did it go over that six month
period? Oh, it kept making money. Uh,

363
00:19:48,720 --> 00:19:52,590
at at what point would
you say, let's, now,

364
00:19:52,690 --> 00:19:56,830
now I actually wanna put real, uh,
capital behind it and stuff like that. So,

365
00:19:56,830 --> 00:20:01,790
or will you have enough confidence that
it would, would, uh, succeed going,

366
00:20:01,790 --> 00:20:03,350
going even further forward?

367
00:20:04,960 --> 00:20:08,710
Uh, this, I two answers to
that num number one is, and,

368
00:20:08,710 --> 00:20:11,350
and I've also written about it that, uh,

369
00:20:12,040 --> 00:20:14,950
my new philosophy is building
more and more. I used to be,

370
00:20:14,950 --> 00:20:18,230
I wanna be very focused and
I still am, uh, to a point,

371
00:20:19,200 --> 00:20:23,540
but there was, uh, an entrepreneur, you
know, a hundred millionaire, whatever,

372
00:20:23,820 --> 00:20:26,890
talking about, you know, what strategies
does he use to acquire clients?

373
00:20:26,890 --> 00:20:31,050
And the answer was all of them. Like,
do all the tactics, do all of them.

374
00:20:31,150 --> 00:20:35,330
And that's where I'm heading every single
good idea I want to be trading live.

375
00:20:35,940 --> 00:20:40,730
Um, that's my goal. So my best right
now, I have five of my best ideas.

376
00:20:40,730 --> 00:20:45,050
I would love to get that as long as it's
reasonable and start losing track of

377
00:20:45,050 --> 00:20:48,200
stuff. I would like to start trading
more and more and more and more. Um,

378
00:20:48,410 --> 00:20:51,400
so that's one way just
to check up on it. Um,

379
00:20:51,420 --> 00:20:53,680
and then I don't remember my
second answer, so there you go.

380
00:20:53,870 --> 00:20:57,760
Okay. <laugh>, um, the, the, uh, well,

381
00:20:57,760 --> 00:21:00,320
another question I was gonna ask was
like, what's, so if, if you're looking,

382
00:21:00,320 --> 00:21:02,680
you're not looking at the one that
makes the most money, what are,

383
00:21:02,680 --> 00:21:05,840
what metrics are you looking
at in terms of, you know,

384
00:21:05,840 --> 00:21:07,520
funny strategy then going, okay.

385
00:21:07,520 --> 00:21:10,960
Right, and what would get me to swift?
Yeah, exactly. That was part too. Um,

386
00:21:11,310 --> 00:21:14,160
well here's the thing.
I've got on my site,

387
00:21:14,220 --> 00:21:18,280
I'm tra I'm starting to track now all
sorts of robots so people can play along.

388
00:21:18,280 --> 00:21:22,600
Every month I go in and I go and I go
to my desk, my data, which I trust,

389
00:21:22,780 --> 00:21:25,280
and I update it every month. So
we can all watch along together.

390
00:21:25,280 --> 00:21:28,880
They can watch a strategy burn out, flame
out right in front of their very eyes,

391
00:21:29,330 --> 00:21:32,600
or they can watch something that's
good, all right. And I give away,

392
00:21:32,670 --> 00:21:35,480
many of them are free. I give away
all the settings cuz you know,

393
00:21:35,480 --> 00:21:38,240
we're all in this together.
I want us to make money. Uh,

394
00:21:38,240 --> 00:21:41,200
so I'm looking at these strategies
and they just destroy, you know,

395
00:21:41,200 --> 00:21:45,200
in the contest year I've got these,
call 'em old school and they're bi,

396
00:21:45,200 --> 00:21:47,960
they're at least eight years old,
I think six to eight years old.

397
00:21:47,960 --> 00:21:50,800
They're based on the old
turtles. They're just breakout.

398
00:21:50,800 --> 00:21:52,440
They're so simple and they're just break.

399
00:21:52,440 --> 00:21:56,880
I haven't done a thing to 'em in years
and they are just destroying for two

400
00:21:56,880 --> 00:22:00,120
years straight now, still going.
They're just, it's unbelievable.

401
00:22:00,810 --> 00:22:03,680
So why am I not trading them? Well, they,

402
00:22:03,680 --> 00:22:08,240
the drawdown historically is
bigger than what I'm trading now.

403
00:22:08,880 --> 00:22:13,230
So in my mind I'm like, I see you,
I see you old school, I understand.

404
00:22:13,770 --> 00:22:16,550
But the ones I have right
now, their draw down is less,

405
00:22:16,580 --> 00:22:20,630
it's gonna be less painful because when
you're trading simple old strategies,

406
00:22:20,630 --> 00:22:23,390
they're gonna draw down. You're gonna
have a losing year. You know, I,

407
00:22:23,680 --> 00:22:26,270
my tested portfolio right now
doesn't have any losing years,

408
00:22:26,270 --> 00:22:29,910
but it has barely winning years. So,
you know, practically break even years,

409
00:22:29,910 --> 00:22:31,070
but no actual red years.

410
00:22:31,760 --> 00:22:36,390
So right now it would take my
strategies to have a similar drawdown

411
00:22:36,760 --> 00:22:41,270
to have a losing year, just like the old
school or something along those lines.

412
00:22:41,440 --> 00:22:43,150
Or maybe another few,

413
00:22:43,380 --> 00:22:46,310
a year or two more of that old
school type of robot doing well.

414
00:22:46,570 --> 00:22:49,030
But until the drawdown is equal,

415
00:22:49,610 --> 00:22:51,750
I'm not super tempted to switch.

416
00:22:52,370 --> 00:22:54,830
But every day I feel like
that's a dumb decision.

417
00:22:54,830 --> 00:22:56,830
Every day I feel like I
should be trading them.

418
00:22:57,030 --> 00:22:59,350
Right. Okay. And and in
terms of like, you know,

419
00:22:59,350 --> 00:23:03,790
drawdown and keeping your drawdown
manageable across let's say 14

420
00:23:03,790 --> 00:23:08,390
strategies or whatever you're trading
live with now, how do you do that?

421
00:23:09,220 --> 00:23:10,630
What's your sort of methodology?

422
00:23:11,300 --> 00:23:13,870
Well, here's the only, I,

423
00:23:13,870 --> 00:23:18,230
I mean the only bad part of
trading right now for me is

424
00:23:18,540 --> 00:23:22,270
living in the United States.
I lo love the United States.

425
00:23:22,340 --> 00:23:25,950
United States is great in many,
many ways, but guess what?

426
00:23:25,950 --> 00:23:30,150
The United States does not allow you to
trade more than one pound yen strategy

427
00:23:30,160 --> 00:23:34,630
in the same account. So if
I have five that I like,

428
00:23:34,820 --> 00:23:38,270
I have to have five different
VPSs, right? Or one VPs,

429
00:23:38,270 --> 00:23:40,430
but five different charts. So I
have five different instrument.

430
00:23:40,480 --> 00:23:44,110
So if I go to 10, that's 10
different empty fours running.

431
00:23:44,210 --> 00:23:48,440
And if I go go to 20, that's
20 different. So the draw down,

432
00:23:48,440 --> 00:23:51,080
then I'd have to go, you know, one
draw down here, draw down here,

433
00:23:51,080 --> 00:23:55,600
draw down here. Like it's not in one
account. So I would just basically say,

434
00:23:55,600 --> 00:23:58,240
you know, they all started with
10,000. I'd say, oh, well, you know,

435
00:23:58,240 --> 00:24:01,560
they're down, that one's down to 1000,
that one's up 3000, that whatever. So,

436
00:24:01,560 --> 00:24:04,960
and then, then I'd have to aggregate
that all the way across. So it's,

437
00:24:05,110 --> 00:24:08,240
it's more complicated
than I wish it was. Um,

438
00:24:08,240 --> 00:24:11,280
that's probably prevented me from
trading 30, you know, right now.

439
00:24:11,580 --> 00:24:13,000
But that's how I do it, honestly.

440
00:24:13,000 --> 00:24:15,560
I just set up five and I just
watch 'em and I add 'em up.

441
00:24:15,920 --> 00:24:18,920
<Laugh> a And what about correlation
in terms of like, you know,

442
00:24:18,950 --> 00:24:21,720
with one peer being the sole focus?

443
00:24:21,750 --> 00:24:25,160
I mean obviously if something happens
with the jp, as you mentioned before,

444
00:24:25,500 --> 00:24:26,440
and you know, the,

445
00:24:26,440 --> 00:24:29,320
I think something happened yesterday with
it where there was an an announcement

446
00:24:29,580 --> 00:24:32,760
and the price just spiked rapidly in
about a minute. Mm-hmm. <affirmative>,

447
00:24:32,760 --> 00:24:35,200
what, what happens? How do
you sort of account for that?

448
00:24:36,410 --> 00:24:40,520
It, and it's something I used to
worry about all the time, <laugh>,

449
00:24:40,570 --> 00:24:45,160
because you know why it's not
very diversified, whatever. Um,

450
00:24:46,310 --> 00:24:48,610
but this is, this is what
I, and it is just a math,

451
00:24:48,610 --> 00:24:50,570
it doesn't make sense to me necessarily,

452
00:24:51,070 --> 00:24:55,570
but all five of my strategies are
trend following in nature. Uh,

453
00:24:55,570 --> 00:24:59,890
couple use indicators and some just
use breakouts of some form or another,

454
00:24:59,890 --> 00:25:00,723
right?

455
00:25:01,030 --> 00:25:05,970
You would think that those would
be so correlated and that the

456
00:25:05,970 --> 00:25:09,930
drawdowns would exaggerate in bad
times and would explode in good times.

457
00:25:09,930 --> 00:25:11,770
And that's just trend following.
And that would be fine.

458
00:25:12,510 --> 00:25:14,050
But surprisingly enough,

459
00:25:14,050 --> 00:25:18,150
cuz I guess they're just different enough
and there are different timeframes,

460
00:25:18,150 --> 00:25:21,750
so I have diversified across that. Uh,
but they work together very well. Like,

461
00:25:21,860 --> 00:25:24,470
they aren't correlated that
much. You know, I'm looking,

462
00:25:24,470 --> 00:25:28,870
I looked at the five earlier today and
they're doing different things even

463
00:25:28,870 --> 00:25:31,150
though they're all based on
following trends and big targets.

464
00:25:31,480 --> 00:25:34,030
So I have yet to see
any problem with that,

465
00:25:34,030 --> 00:25:36,430
but my mind says I should be
having problems with that,

466
00:25:36,610 --> 00:25:39,310
but the math doesn't say it and
I haven't experienced it yet.

467
00:25:39,310 --> 00:25:41,550
So I guess we'll have to
meet again and I'll tell you.

468
00:25:41,550 --> 00:25:44,230
That. Yeah. Yeah. So, so
what about, uh, I mean,

469
00:25:44,230 --> 00:25:46,510
sort of br brings me to think
about timeframe. I mean,

470
00:25:46,510 --> 00:25:50,750
have you got strategies
running on different timeframes
within the J P Y? Yeah.

471
00:25:50,980 --> 00:25:52,910
Yeah. Um, 15,

472
00:25:52,910 --> 00:25:57,510
which is weird because a 15 minute
chart seems like that's a fast moving

473
00:25:57,590 --> 00:26:01,350
noisy, but it's going for breakouts and
just happens to be on a 15 minute chart.

474
00:26:01,350 --> 00:26:05,030
So it's a little bit if you do it on an
hour chart and maybe the robot looks at

475
00:26:05,030 --> 00:26:08,070
it too late if you do it on a four
hour chart, but I have four hours and,

476
00:26:08,070 --> 00:26:12,390
and they, like I said, so, um, but yeah,
there are different timeframes from 50,

477
00:26:12,680 --> 00:26:17,310
uh, or 15, sorry, uh, 1, 2,
3, and then one hour chart.

478
00:26:17,540 --> 00:26:21,830
I, well that might not be true. 15. Yeah,

479
00:26:21,830 --> 00:26:23,510
15 and one hour, sorry. Yep. 15.

480
00:26:23,510 --> 00:26:25,990
And one hour. So, so, so even though
you test on four hour and daily,

481
00:26:26,060 --> 00:26:29,910
most of your trades are, or strategies
are based on 15 and one hour?

482
00:26:30,220 --> 00:26:33,230
Yeah, and I'm mad about it because
the four hour and dailies work great,

483
00:26:33,230 --> 00:26:35,790
but the drawdowns are a little bit
bigger, so I haven't chosen them yet.

484
00:26:35,790 --> 00:26:40,750
Ah, okay. And, and what about, um,
you mentioned indicators there.

485
00:26:40,750 --> 00:26:43,640
So how many out of all your
strategies are using indicators or,

486
00:26:43,640 --> 00:26:46,440
and are they solely based on
indicators or a bit of both?

487
00:26:46,870 --> 00:26:48,880
What's the matrix or mix look like?

488
00:26:49,150 --> 00:26:53,880
Yeah, two of them are strictly indicators.
An indicator says this and I get in,

489
00:26:53,880 --> 00:26:56,920
that's it. Uh, then three of
'em are based on breakouts.

490
00:26:56,920 --> 00:26:59,960
If it g if it goes above the high,
a previous high, then it gets in.

491
00:26:59,960 --> 00:27:03,440
So three are indicator or
two are indicator based on
three are breakout based.

492
00:27:03,820 --> 00:27:04,580
And are the,

493
00:27:04,580 --> 00:27:08,770
are the indicator based ones better
than the breakouts or does it matter?

494
00:27:09,280 --> 00:27:11,930
I think about that all
the time. <laugh>. Um,

495
00:27:12,170 --> 00:27:16,250
initially the breakout ones were
better, what does better mean? Uh,

496
00:27:16,250 --> 00:27:18,930
little bit more profit,
little less drawdown. Um,

497
00:27:18,930 --> 00:27:23,370
but the indicator ones since
2022 started, they've been great.

498
00:27:23,690 --> 00:27:26,810
Great. Which I, I wouldn't
have expected that either. Uh,

499
00:27:26,810 --> 00:27:29,730
so right now indicators are doing, we're
talking about right now, last three,

500
00:27:29,730 --> 00:27:32,290
four months, indicators
are doing better. Um,

501
00:27:32,790 --> 00:27:35,890
but overall by the
slimmest of margins, uh,

502
00:27:35,890 --> 00:27:38,890
the price action breakouts are a little
bit better when you look at profit and

503
00:27:38,890 --> 00:27:39,670
drawn.

504
00:27:39,670 --> 00:27:42,570
And, and when you, when you
come up with like a, uh,

505
00:27:43,320 --> 00:27:45,250
a theory or a concept like,

506
00:27:45,250 --> 00:27:48,290
I'm gonna do this a breakout and
this is what it's going to, you know,

507
00:27:48,290 --> 00:27:51,810
this is how, how the strategy's
gonna work. These are the rules. Um,

508
00:27:51,900 --> 00:27:55,050
my stop loss is gonna go here, or
I'm gonna get out when it goes here.

509
00:27:55,110 --> 00:27:56,650
I'm gonna take profit at this point.

510
00:27:57,060 --> 00:28:02,010
Do you build vari or
variables into your robots so

511
00:28:02,010 --> 00:28:06,810
that you can, you know, well maybe
my stop loss needs to be, you know,

512
00:28:06,810 --> 00:28:10,490
could be, let's say it's a hundred
pips, could be 150 pips could be 200.

513
00:28:10,570 --> 00:28:13,770
Would you test all those different
variations or would you just say,

514
00:28:14,150 --> 00:28:19,050
I'm going into this with a stop loss
of, you know, 10 80 r or whatever it is.

515
00:28:19,500 --> 00:28:24,410
Um, and then a take profit is gonna
exit when it crosses the moving average.

516
00:28:24,410 --> 00:28:29,260
Very simple kind of strategy, but that
kind of thing. Or have you got, um,

517
00:28:29,260 --> 00:28:30,380
or are you just, you know,

518
00:28:30,380 --> 00:28:34,260
coming up with the theory and then
testing out variations of the stop loss,

519
00:28:34,320 --> 00:28:38,060
the entry, the take profit
filters and that sort of thing?

520
00:28:39,170 --> 00:28:43,800
Uh, I, the first time I came up
with this, this was 2018, 2019,

521
00:28:43,910 --> 00:28:47,280
that had led to what I'm training
today. I've been trading it since then.

522
00:28:47,280 --> 00:28:51,320
That time for you too. Um, it
started with all sorts of, I mean,

523
00:28:51,320 --> 00:28:56,240
I tested everything, you know, back
then I thought more is better. Uh,

524
00:28:56,240 --> 00:28:57,520
and I continued to think that.

525
00:28:57,540 --> 00:29:02,480
And then when I tr first tested a
breakout just breaking above the high, um,

526
00:29:03,010 --> 00:29:07,880
it worked so well. <laugh>, I mean,
worked phenomenally, but yes, it,

527
00:29:07,880 --> 00:29:09,960
the winning percentage
again is not very high.

528
00:29:09,960 --> 00:29:13,200
But as far as long-term profit and
long-term viability, it was so great.

529
00:29:13,380 --> 00:29:15,520
You know, I tested stop losses
all the way from, you know,

530
00:29:15,520 --> 00:29:18,680
from 50 pips up to a
thousand pips. And, you know,

531
00:29:18,950 --> 00:29:20,480
I would test profit targets too.

532
00:29:20,480 --> 00:29:23,160
At first I didn't wanna use profit
targets cuz trend followers don't want you

533
00:29:23,160 --> 00:29:26,280
to. But in four x it's perfectly
fine. Use a profit target.

534
00:29:26,280 --> 00:29:29,920
So I do a small target, do big target.
And what I've found is when you,

535
00:29:29,990 --> 00:29:33,480
when you're using a trending
instrument, pound yen,

536
00:29:33,730 --> 00:29:38,600
or even if you test the Bitcoin etf,
uh, hard to test for me anyway, to,

537
00:29:38,600 --> 00:29:41,040
I don't have Bitcoin data for
the whole thing, but, you know,

538
00:29:41,160 --> 00:29:44,800
know or Apple or something
like that, um, you kind of,

539
00:29:44,930 --> 00:29:49,280
if you just put maybe three
to one, four to one, I mean,

540
00:29:49,280 --> 00:29:50,360
you can go down to two to one,

541
00:29:50,780 --> 00:29:54,920
but if you generally have a big profit
target that's bigger than your stop,

542
00:29:54,920 --> 00:29:56,600
which is, I mean, that's
as old as time. I mean,

543
00:29:56,600 --> 00:29:59,840
how many times have we heard that?
Then you don't have to be too specific.

544
00:29:59,990 --> 00:30:03,480
A hundred pips 150 pips.
200 pips. Honestly,

545
00:30:03,480 --> 00:30:06,640
if you're going for 300 or 400
pips on your target, it, it,

546
00:30:06,640 --> 00:30:10,520
they're all pretty good. Like when
I run a test for example, you know,

547
00:30:10,520 --> 00:30:15,000
and you get results, I'll see
profitability, I mean for 30 54,

548
00:30:15,000 --> 00:30:16,000
like they're all profitable.

549
00:30:16,000 --> 00:30:19,440
Like you can almost throw a dart and
pick one and I end up just trying to pick

550
00:30:19,440 --> 00:30:22,840
one with a drawdown that I like. But
when you're gone for big profit targets,

551
00:30:22,840 --> 00:30:25,480
using trend, following strategies,
like you don't have to, it,

552
00:30:25,480 --> 00:30:28,120
it's gotten rid of my pickiness
to stay the least. Uh,

553
00:30:28,120 --> 00:30:29,640
you don't have to be so precise.

554
00:30:29,640 --> 00:30:32,520
Tired of missing trades or
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555
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559
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561
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562
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563
00:30:58,060 --> 00:31:00,320
And what about like sample
size of trades? I mean,

564
00:31:00,320 --> 00:31:03,640
how many trades are you looking
at over, let's say for example,

565
00:31:03,640 --> 00:31:08,000
a year to give you confidence
that, you know, this is,

566
00:31:08,110 --> 00:31:11,080
this is gonna be something
I I'd actually use? Uh,

567
00:31:11,080 --> 00:31:14,320
I'm guessing like if you get one trade
a year and you're doing a 20 year test,

568
00:31:14,320 --> 00:31:17,480
you've got 20 trades, your confidence
is gonna be quite low. So I mean,

569
00:31:17,480 --> 00:31:18,313
what's your number?

570
00:31:19,110 --> 00:31:21,800
What's my number? <laugh>?
Uh, well honestly though,

571
00:31:21,800 --> 00:31:23,720
we're gonna switch over
and talk about stocks.

572
00:31:23,990 --> 00:31:26,800
I would take 20 to to 50
trades for sure. You know,

573
00:31:26,800 --> 00:31:30,560
trading a daily or a weekly system based
on a trend following methodology that

574
00:31:30,560 --> 00:31:32,760
made sense with a big profit
target. A hundred percent,

575
00:31:32,760 --> 00:31:36,600
I would take that easily. But in the
four x market and generally in testing,

576
00:31:36,630 --> 00:31:39,720
I love 500 trades. I love that. Uh, um,

577
00:31:39,800 --> 00:31:44,560
generally my strategies show between
500 and 1200 trades lifetime.

578
00:31:45,330 --> 00:31:47,080
So I'm perfectly fine with that.

579
00:31:47,080 --> 00:31:50,600
I found that does translate into
the real world. Um, but again,

580
00:31:50,600 --> 00:31:52,560
if we're talking about a
different instrument, I probably,

581
00:31:52,560 --> 00:31:55,800
you could talk me into 20 to 50
trades on some things, right?

582
00:31:55,930 --> 00:31:56,920
If they're long term.

583
00:31:56,990 --> 00:32:00,880
Okay. So 500 is the, the magic number.
And, and what about things like, uh,

584
00:32:00,880 --> 00:32:03,200
time of day, day of the week?

585
00:32:03,650 --> 00:32:07,480
Do you go into the detail around
testing that and excluding days,

586
00:32:07,480 --> 00:32:09,200
excluding hours, that sort of thing?

587
00:32:09,670 --> 00:32:10,280
D uh, yeah,

588
00:32:10,280 --> 00:32:15,080
done all of that <laugh> to done all
of that till my eyeballs got blurry.

589
00:32:15,690 --> 00:32:16,160
Um,

590
00:32:16,160 --> 00:32:21,080
there is something in the four x
market about trading when the Americans

591
00:32:21,080 --> 00:32:24,280
trade <laugh> for some reason. Um,

592
00:32:24,370 --> 00:32:27,760
so if the Americans are moving, what,

593
00:32:27,760 --> 00:32:32,160
between like nine 30 and then they
start petering out around 12, um,

594
00:32:32,160 --> 00:32:36,120
there are systems that I've built
just for the New York Open. Uh,

595
00:32:36,610 --> 00:32:40,400
it seems that that's when people
get excited about who knows what,

596
00:32:40,400 --> 00:32:44,000
even though it's been going 24 hours
a day and we've got London traders,

597
00:32:44,000 --> 00:32:47,480
we've got Asia traders. I mean all
of those are big traders. I get it.

598
00:32:47,480 --> 00:32:51,000
But there's something about the chart
<laugh> that happens before noon eastern.

599
00:32:51,000 --> 00:32:51,833
It's crazy.

600
00:32:51,980 --> 00:32:55,040
But I also have systems that just trade
whenever the signal comes and it doesn't

601
00:32:55,040 --> 00:32:57,400
matter. Um, so I, I used to think,

602
00:32:58,030 --> 00:33:01,400
I used to have a bias for maybe trying
to trade when the Americans trade or

603
00:33:01,400 --> 00:33:04,880
New York, but I, I don't anymore.
I'm, I'm fine with a signal now,

604
00:33:04,880 --> 00:33:08,240
especially if you're using an indicator
just when that indicator fires,

605
00:33:08,240 --> 00:33:08,920
that's fine with me.

606
00:33:08,920 --> 00:33:11,080
Mm-hmm. <affirmative>. And,
and would you like, I suppose,

607
00:33:11,080 --> 00:33:14,560
go into it coming up with a system that
is gonna trade the New York session

608
00:33:14,750 --> 00:33:16,640
versus, uh,

609
00:33:17,540 --> 00:33:20,390
coming up with a concept
and then going, oh,

610
00:33:20,390 --> 00:33:23,470
let's just see if it's works
better in New York, London, Asia,

611
00:33:23,470 --> 00:33:24,303
or that sort of thing?

612
00:33:24,720 --> 00:33:25,210
Yeah,

613
00:33:25,210 --> 00:33:29,450
I've tried all the different types of
days for going for big targets and pre

614
00:33:29,450 --> 00:33:32,690
noon works the best for
me. Now again, that's,

615
00:33:32,820 --> 00:33:34,850
it may not be true for
someone else right now.

616
00:33:34,850 --> 00:33:39,290
I'm not saying it's the right or wrong.
Um, but yeah, I, I went into that. I,

617
00:33:39,290 --> 00:33:44,170
I figured out that concept, you know,
trading when the, when New York trades,

618
00:33:44,200 --> 00:33:48,610
this was, you know, several years ago,
maybe three, four years ago. And now I,

619
00:33:48,610 --> 00:33:50,570
I look for it, I'm like,
huh, this is, let's see.

620
00:33:50,710 --> 00:33:53,890
But I found that especially if you're
using a trend following instrument like

621
00:33:53,890 --> 00:33:57,290
the pound yen, again, it, it doesn't
matter. So yeah, I, I look for it,

622
00:33:57,430 --> 00:33:59,010
but it's not mandatory anymore.

623
00:33:59,010 --> 00:34:03,170
I've done a lot more testing lately and
that's not based on the New York Open.

624
00:34:03,420 --> 00:34:05,090
Uh, and it's also been good, uh,

625
00:34:05,090 --> 00:34:06,610
especially when you get
into four hour and daily.

626
00:34:06,610 --> 00:34:08,370
You don't necessarily
need to do that anymore.

627
00:34:08,620 --> 00:34:12,690
Um, a and, and what about day of week?
Are you like sort of seeing, you know,

628
00:34:12,690 --> 00:34:16,050
if if Monday's bad, do I just turn off
Monday on that particular strategy?

629
00:34:17,170 --> 00:34:20,340
I used to care about that so
much and I don't anymore. Uh,

630
00:34:20,540 --> 00:34:24,700
I I just don't wanna miss a trend.
So I'm in Monday to Sunday, you know,

631
00:34:24,700 --> 00:34:28,100
or Sunday, I guess Sunday to Friday. It'd
be a better way to put that. No, I, I,

632
00:34:28,100 --> 00:34:32,100
I have excluded, I made a
Countertrend strategy, um, years ago,

633
00:34:32,100 --> 00:34:37,060
almost a decade ago that excluded
a day. I think it was Tuesday. Uh,

634
00:34:37,060 --> 00:34:39,140
but it, it got rid of a
day of the week. I've said,

635
00:34:39,140 --> 00:34:43,060
well Friday's terrible because that's
for the weekend. And then Monday is,

636
00:34:43,350 --> 00:34:46,180
it feels psychologically
like Monday stinks,

637
00:34:46,440 --> 00:34:48,500
but then you look at the numbers
and Monday doesn't stink,

638
00:34:48,500 --> 00:34:51,260
at least in my system. So
no, I don't exclude anything.

639
00:34:51,260 --> 00:34:54,860
I have done that though quite a bit,
quite a bit, but I don't anymore. Right.

640
00:34:55,080 --> 00:34:58,900
And and what about like order
types? Are you sitting limit orders,

641
00:34:59,090 --> 00:35:01,500
stop orders or just
getting in at the market?

642
00:35:02,940 --> 00:35:07,910
I would love more than anything
to use lemon orders, <laugh>, and,

643
00:35:07,910 --> 00:35:12,670
but I just don't, I can't, I can't make
the back testing show up in real life.

644
00:35:12,820 --> 00:35:13,630
I've tried it,

645
00:35:13,630 --> 00:35:17,990
I've built one or two and I would traded
it live with a small size immediately

646
00:35:18,330 --> 00:35:21,310
the tester took it and the
real life didn't. So it's like,

647
00:35:21,310 --> 00:35:25,470
I don't know what I'm gonna get.
So if I could <laugh> or if I,

648
00:35:25,470 --> 00:35:29,310
or if I was a discretionary trader, I'd
use limit orders. I love them to death,

649
00:35:29,530 --> 00:35:32,070
but all of my robots now
just get into the market.

650
00:35:33,550 --> 00:35:38,520
Um, okay, so in at the market, right? So
it, yeah. Limit orders in Penny. Well,

651
00:35:38,520 --> 00:35:41,760
penny orders as a whole
stop all limit. Uh, uh,

652
00:35:41,760 --> 00:35:43,880
you've got that extra decision to make,

653
00:35:43,880 --> 00:35:47,400
which I find is an issue where you've
gotta go, when do I cancel the order?

654
00:35:47,670 --> 00:35:50,960
Yeah, like what point do you cancel
the order? Because it's like, well,

655
00:35:50,960 --> 00:35:52,160
how long's the setup valid for?

656
00:35:52,160 --> 00:35:55,080
So then you've got all these things
you've gotta think about. It's, it's such,

657
00:35:55,080 --> 00:35:59,390
such a, such a pain. Um, right. So,

658
00:35:59,680 --> 00:36:01,190
so what about, I mean,

659
00:36:01,190 --> 00:36:06,000
I dunno if we got the answer to this
one around the metric that you like

660
00:36:06,000 --> 00:36:10,560
the most to determine whether or not
this is a strategy you'll go ahead with.

661
00:36:10,560 --> 00:36:15,480
Have you got like something like profit
factor or another kind of metric that

662
00:36:15,480 --> 00:36:16,313
you use?

663
00:36:16,630 --> 00:36:21,520
Profit Factor is great. Uh, perfectly
fine to use that. Um, I've used,

664
00:36:21,520 --> 00:36:26,400
if you have a lot of testing, I like
Max Profit divided by Max Drawdown.

665
00:36:26,400 --> 00:36:28,200
You get a number. I like that.

666
00:36:28,420 --> 00:36:31,280
But that's not really relevant if you're
looking at a shorter term like just

667
00:36:31,280 --> 00:36:33,360
trading in the past couple
years. Uh, cuz you never know.

668
00:36:33,360 --> 00:36:36,000
I mean you'd have to have a lot of
data to use that, which, you know,

669
00:36:36,000 --> 00:36:39,280
I generally test long
term. Uh, honestly, what I,

670
00:36:39,280 --> 00:36:42,200
what I like is what is,

671
00:36:42,200 --> 00:36:45,680
what are the yearly returns
over the past 20 years?

672
00:36:46,140 --> 00:36:49,040
And I just like to look at
that. I'm very long term, uh,

673
00:36:49,090 --> 00:36:50,200
at least in my thinking,

674
00:36:50,530 --> 00:36:54,080
so I don't really care what today does
or next month or even the next six

675
00:36:54,080 --> 00:36:56,720
months, but I would like to
have confidence that, you know,

676
00:36:56,720 --> 00:36:59,000
at the end of every 12
month period I'm doing okay.

677
00:36:59,450 --> 00:37:02,440
So that's my favorite actually. But
profit factor a hundred percent is,

678
00:37:02,440 --> 00:37:04,920
is excellent to use. I've found, you know,

679
00:37:04,920 --> 00:37:09,360
in the 1.4 I've seen strategies
work for a long time at 1.2,

680
00:37:09,360 --> 00:37:12,400
1.3 on a profit factor. 1.4 is great,

681
00:37:12,400 --> 00:37:15,840
higher is better as most
people will tell you, but, uh,

682
00:37:15,840 --> 00:37:19,440
stocks and stock strategies, you know,
I've seen profit factors of eight,

683
00:37:19,440 --> 00:37:23,200
you know, it's whatever and they're
fine too. Uh, but generally speaking,

684
00:37:23,200 --> 00:37:25,320
I'm just looking at the draw
down distribution, that's my.

685
00:37:25,440 --> 00:37:28,160
Favorite. Right. And and what about
like, you know, you mentioned, you know,

686
00:37:28,160 --> 00:37:30,520
yearly return. What would be a sort of,

687
00:37:30,790 --> 00:37:34,960
I want it to beat this much per year to
give me confidence that like, you know,

688
00:37:34,960 --> 00:37:37,120
I'm gonna keep running
this spot. What's the,

689
00:37:37,120 --> 00:37:40,880
what's the minimum sort of yearly return
you wanna see? All the minimum average,

690
00:37:40,910 --> 00:37:41,743
I suppose?

691
00:37:42,070 --> 00:37:43,560
Yeah, boy, <laugh>,

692
00:37:43,560 --> 00:37:48,080
that's a tough one because I used
to be so scared of everything

693
00:37:48,470 --> 00:37:49,960
that, you know, I did like,

694
00:37:49,960 --> 00:37:53,720
well I would look at my max drawdown
first cuz I was so scared and like, oh,

695
00:37:53,940 --> 00:37:55,960
you know, the max drawdown is $10,000,

696
00:37:55,960 --> 00:37:59,320
so I better trade this on a $30,000
account. Cuz what if I draw down 10,

697
00:37:59,370 --> 00:38:02,280
at least I'm safe that way. And then
you make four pennies, you know,

698
00:38:02,280 --> 00:38:05,440
you have to, you have to
take on some risk. Yeah. Um,

699
00:38:07,050 --> 00:38:09,220
I don't, I I I don't wanna say,

700
00:38:09,220 --> 00:38:13,580
but I'm gonna say I would like to see
the potential for a hundred percent year

701
00:38:13,710 --> 00:38:18,260
in the testing. Now that's comes with
a big drawdown. So please everybody,

702
00:38:18,260 --> 00:38:22,860
please be careful. That means that I'm
willing to accept a 50% drawdown or,

703
00:38:22,860 --> 00:38:24,740
you know, an outrageous
amount of drawdown,

704
00:38:24,740 --> 00:38:28,860
which most people can't take 1%
drawdown. Right? Um, but in my testing,

705
00:38:28,930 --> 00:38:32,580
I would like to see the ability
to double my money at least once.

706
00:38:32,580 --> 00:38:34,980
Not every year, of course,
not every year, but I'd like,

707
00:38:35,080 --> 00:38:38,480
like to have the potential of having,
oh, if I have a banner a year,

708
00:38:38,480 --> 00:38:41,800
I'd love to see it double. So that's
where I start. That doesn't, I can,

709
00:38:41,870 --> 00:38:44,480
I can take the size down from
there, but in my testing,

710
00:38:44,480 --> 00:38:45,400
that's what I'd like to see.

711
00:38:45,980 --> 00:38:47,360
And and do you have like a,

712
00:38:47,360 --> 00:38:52,160
a strategy that's sort of been one that's
performed the best for you over the

713
00:38:52,160 --> 00:38:56,320
long term and and or is it
just a portfolio of them?

714
00:38:58,610 --> 00:39:02,710
The best, and we may have even talked
about it, it's been years past.

715
00:39:02,710 --> 00:39:06,830
The best strategy I've ever
tested, uh, is called the Hornet.

716
00:39:06,830 --> 00:39:11,790
And I spent 2,500 hours developing
it as my first real attempt at it.

717
00:39:12,430 --> 00:39:15,740
Um, that's still by far
my favorite strategy.

718
00:39:16,000 --> 00:39:20,340
And I do not trade it anymore because
I can't trade it in the us. Um,

719
00:39:20,720 --> 00:39:24,300
the spreads are just too wild. It's,
it goes for a very small profit target.

720
00:39:24,300 --> 00:39:27,660
And the 15 minute chart uses
the R S I indicator. Um,

721
00:39:27,660 --> 00:39:30,860
the win percentage is in the 70, 80% if,

722
00:39:31,070 --> 00:39:35,860
if if if it traded like it tested
with no slippage, right? Yeah.

723
00:39:35,860 --> 00:39:38,780
Known five 5:00 PM
Eastern where the it goes,

724
00:39:38,780 --> 00:39:43,100
the spreads go to 2030 pips no Sunday
night where I'm trying to get out and a

725
00:39:43,100 --> 00:39:45,820
winner turns into a loser because
the spreads are 20, 30 pips.

726
00:39:46,270 --> 00:39:49,980
If it just traded the way
it's supposed to trade,

727
00:39:50,320 --> 00:39:52,380
I'm gonna get upset Cam <laugh>. Um,

728
00:39:52,380 --> 00:39:55,220
that's by far and it was a negative
risk reward. You know, it's,

729
00:39:55,220 --> 00:39:59,060
it's 14 pips and a 50 pip stop. Um,

730
00:39:59,060 --> 00:40:01,140
but that has continued to
work. It's not perfect,

731
00:40:01,140 --> 00:40:03,100
but it's continued to work on my testing,

732
00:40:03,560 --> 00:40:06,460
but I haven't traded it live in
years because I just can't, like,

733
00:40:06,460 --> 00:40:10,740
there's no way, uh, winners
turn it like, oh, I got 15 pips.

734
00:40:10,740 --> 00:40:14,300
No I did not a loser. I mean, I can't
trust that. So yeah, that's my favorite.

735
00:40:14,310 --> 00:40:16,020
Uh, my second favorite is what I do now.

736
00:40:16,020 --> 00:40:20,700
Huge targets trend following any sort of
breakout trend following or any sort of

737
00:40:20,700 --> 00:40:23,740
indicator that goes for big
targets. I love them and I'll,

738
00:40:23,740 --> 00:40:25,540
I'm gonna love 'em for the
rest of my life, I think.

739
00:40:26,000 --> 00:40:29,140
And I suppose, does that mean
that you can sort of, uh,

740
00:40:29,140 --> 00:40:33,500
with the trend following stuff, you can
avoid having to worry about Yeah, the,

741
00:40:33,500 --> 00:40:36,580
the slippage and the, the
spread and, and the cost of the,

742
00:40:36,900 --> 00:40:41,860
the trade because you're in a trade for
much longer if you're winning and it

743
00:40:41,860 --> 00:40:44,820
just soaks up any, any kind of, you know,

744
00:40:44,820 --> 00:40:46,780
discrepancy that the
broker's putting on you?

745
00:40:47,490 --> 00:40:51,420
Yeah, I, I said so many bad hours
of worrying about spread. I had,

746
00:40:51,530 --> 00:40:54,940
I had programmers that are the
best programmers I could find,

747
00:40:54,940 --> 00:40:58,780
help me and build in slippage and don't
get out if the slippage is this and that

748
00:40:58,780 --> 00:41:02,940
and I could not make it work. Nobody's
fault. The market was just too wild.

749
00:41:03,830 --> 00:41:07,580
Um, it didn't happen when I was at Trade
Station. I don't know why, you know,

750
00:41:07,580 --> 00:41:10,580
years ago, trade station at
Forex doesn't anymore. You know,

751
00:41:10,580 --> 00:41:13,820
I made a hundred percent over a hundred
percent in a year with this robot and

752
00:41:13,820 --> 00:41:16,740
trade station. Everything was
fine. I had no tra problems.

753
00:41:16,830 --> 00:41:20,140
As soon as I couldn't use trade stations
broker, I don't know if it was gain, I,

754
00:41:20,140 --> 00:41:24,860
I forget who it was, but since then,
it's just not been feasible. Um, but yes,

755
00:41:24,860 --> 00:41:28,540
going trend falling, I don't
ever look at slippage ever. Yeah.

756
00:41:28,540 --> 00:41:30,340
I mean it just doesn't come into play.

757
00:41:30,720 --> 00:41:34,440
And, and if you had to sort of, you know,
say you'd built, you had your theory,

758
00:41:34,440 --> 00:41:37,200
you built your strategy, and
you're now gonna go and test it.

759
00:41:37,200 --> 00:41:40,520
What's your process around
like start to finish,

760
00:41:40,520 --> 00:41:42,600
here's the first thing I'm
gonna do. Here's the next thing,

761
00:41:42,600 --> 00:41:46,150
here's the next thing, here's the next
thing to the point where you're, you,

762
00:41:46,150 --> 00:41:49,030
you're either happy with, you
know, the results or you're,

763
00:41:49,030 --> 00:41:52,390
you've been it and what's the sort of,
geez, I'm asking so many questions here.

764
00:41:52,460 --> 00:41:54,030
What's sort of, um,

765
00:41:54,670 --> 00:41:58,910
decision making factor around I'm
gonna bin it versus I'm gonna keep it?

766
00:42:00,310 --> 00:42:03,120
Well, I've got, you know,
I'm a serial tester <laugh>,

767
00:42:03,190 --> 00:42:06,440
I think you know exactly what I mean.
I think you're along those same lines.

768
00:42:06,440 --> 00:42:10,210
Yeah. I have so many now of different,

769
00:42:10,210 --> 00:42:13,850
different versions of trend following
different versions of all sorts of things.

770
00:42:13,920 --> 00:42:14,970
I, i, sitting on my computer,

771
00:42:14,970 --> 00:42:19,850
there's so many that right now I
can just go back and cycle through

772
00:42:19,850 --> 00:42:22,370
old ones over and over again. You
know, like we talked about earlier.

773
00:42:22,590 --> 00:42:24,970
And don't even have to come
up with any ideas. You know,

774
00:42:24,970 --> 00:42:28,170
I just let a strategy sit for five years
and then come back and see how it's

775
00:42:28,170 --> 00:42:30,890
doing. Like, oh, all right,
well that worked for five years.

776
00:42:31,170 --> 00:42:32,650
Maybe I should incorporate that.

777
00:42:32,650 --> 00:42:36,730
I do so much of my learning based on
what happened in the past and how I can

778
00:42:36,730 --> 00:42:38,250
update that here. Um,

779
00:42:38,500 --> 00:42:43,370
so my process to sit down for just get
a new strategy is going to be an old

780
00:42:43,690 --> 00:42:46,010
strategy. That's number one.
That's the first thing I do,

781
00:42:46,010 --> 00:42:49,810
is do something I did a bunch of years
ago and forgot about or just have been

782
00:42:49,810 --> 00:42:51,770
ignoring. Cuz I'm only
one person and I'm dumb.

783
00:42:52,460 --> 00:42:55,090
My second would be I'm
very idea based now.

784
00:42:55,090 --> 00:42:59,210
Whereas before I was much more on the
data mi data mining side where I'm,

785
00:42:59,210 --> 00:43:02,570
I don't know what I want, but I'm gonna
start testing and I will find something,

786
00:43:02,570 --> 00:43:07,250
I will find a pattern. Now it would
be an idea, okay, I want to go for,

787
00:43:07,520 --> 00:43:10,770
I wanna use this indicator, I
want to go for three to one ratio.

788
00:43:11,150 --> 00:43:14,890
And then I would say, well what if I
added this filter? Or what if I used even,

789
00:43:14,990 --> 00:43:17,370
you know, multiple time for,
you know, that sort of thing.

790
00:43:17,370 --> 00:43:20,770
But I would start right now, if I were
to start one tomorrow, I'd think, okay,

791
00:43:20,770 --> 00:43:21,850
find me something that trends,

792
00:43:21,970 --> 00:43:24,650
gimme a big profit target
now how do I want to enter,

793
00:43:24,650 --> 00:43:26,970
well I want to enter this
way. And then I just go and I,

794
00:43:27,040 --> 00:43:30,730
I don't even test to the target. I
would've an arbitrary target, you know,

795
00:43:30,960 --> 00:43:35,850
400 pips and 200 pip stop for example,
and then just go and then start tweaking.

796
00:43:35,850 --> 00:43:39,450
Yeah, my, my testing has calmed
down dramatically. I still do a ton,

797
00:43:39,550 --> 00:43:44,090
but it's so much simpler now because I
have the old things to build off of and

798
00:43:44,090 --> 00:43:45,730
my, I'm very idea based now.

799
00:43:45,870 --> 00:43:47,850
And so when you say start tweaking, what,

800
00:43:47,850 --> 00:43:49,330
what kind of tweaking would you be doing?

801
00:43:49,330 --> 00:43:52,290
Just would you be trying to get to
that point where you see that double,

802
00:43:52,790 --> 00:43:56,850
you know, double digit, oh, sorry,
sorry, uh, account double in the, um,

803
00:43:56,850 --> 00:44:00,410
a hundred percent growth, should I say
right in the year in one of the tests,

804
00:44:00,410 --> 00:44:01,570
right? Is that what you're looking for?

805
00:44:01,840 --> 00:44:05,410
Yeah, well I'd like to see that and
then, but I don't wanna see, you know,

806
00:44:05,640 --> 00:44:10,530
I don't want, say it has a $10,000 a year
and as a hypothetical $10,000 account,

807
00:44:10,530 --> 00:44:13,170
well I don't wanna see a $10,000
or $12 dollars draw, you know,

808
00:44:13,170 --> 00:44:16,650
something even more than my account.
So I would look at that too. You know,

809
00:44:16,650 --> 00:44:19,170
I'm not just looking at the winds.
Yeah. I would look at, you know, are,

810
00:44:19,170 --> 00:44:22,970
are there, are there any really big red
years? Um, that's what I would look at.

811
00:44:22,970 --> 00:44:25,850
I'd say, okay, so I start with 400,
200 and I do a breakout and you know,

812
00:44:25,850 --> 00:44:28,770
on a new indicator ketner channel,
I don't, something like that. Okay.

813
00:44:28,770 --> 00:44:31,360
How does it work out? You know,
okay, well on the pound yen,

814
00:44:31,360 --> 00:44:33,840
which is where I look first, second,
third, fourth, and fifth, you know,

815
00:44:33,840 --> 00:44:37,040
maybe euro yen after that or even
whatever, then I would say, okay,

816
00:44:37,040 --> 00:44:39,840
how does it go? And I'd look at the 20
year back test and I'd say, oh well,

817
00:44:40,020 --> 00:44:43,880
you know, that's, it's got a
little bit of a drawdown in 2012.

818
00:44:44,090 --> 00:44:47,560
So how about the stop loss season
in 200? What if it's one 50?

819
00:44:48,020 --> 00:44:51,240
And then I'd run it that way,
you know, but it's, it's, it's,

820
00:44:51,240 --> 00:44:53,680
it's more I'm looking at it,
you know, I'm just curious,

821
00:44:54,020 --> 00:44:57,200
but I don't really want to get away
from the framework of big profit target,

822
00:44:57,200 --> 00:45:00,520
big stop, so I don't stray too far,
if that makes sense, dude, is that,

823
00:45:00,890 --> 00:45:02,640
is that explainable or understandable?

824
00:45:02,640 --> 00:45:03,920
Yeah, I think I understand that. And,

825
00:45:03,940 --> 00:45:08,120
and at what point would you sort of
discard or stop working on that particular

826
00:45:09,350 --> 00:45:12,550
strategy? I, when when's it sort of, you
know, run its course and you've gone,

827
00:45:12,550 --> 00:45:16,350
well, I I can't get this thing to do
anything now, so <laugh>, I'm done. Yeah.

828
00:45:16,810 --> 00:45:21,150
Yep. Too many losing years
probably, you know, just the or,

829
00:45:21,200 --> 00:45:23,510
or one, just massively
losing years, you know,

830
00:45:23,510 --> 00:45:27,150
I can even handle a small losing year,
but I'm, I'm just thinking about, okay,

831
00:45:27,150 --> 00:45:28,830
I, there's no way I
could live through this.

832
00:45:28,830 --> 00:45:32,470
There's no way I could live through
a drawdown that big. You know,

833
00:45:32,470 --> 00:45:34,830
you're gonna see drawdowns during
the year, even in a winning year,

834
00:45:34,830 --> 00:45:38,150
you're gonna see a month
or two or three drawdowns,

835
00:45:38,450 --> 00:45:42,590
but something that's just outrageously
large. I'm like, you know,

836
00:45:42,590 --> 00:45:45,270
I have other things that don't draw down
that big. So you're outta here buddy.

837
00:45:45,500 --> 00:45:49,070
Yeah. And, and and what about like, if
somebody, uh, I suppose to, to wrap,

838
00:45:49,070 --> 00:45:53,110
wrap up the show here cause I've
asked a lot of questions. Um, if,

839
00:45:53,110 --> 00:45:56,950
if somebody was gonna start down
this road and wanted to like,

840
00:45:56,950 --> 00:45:59,790
get into this stuff, uh,
what would be your, you know,

841
00:45:59,790 --> 00:46:00,870
recommended course of action?

842
00:46:02,450 --> 00:46:04,520
Uh, uh, we, well we're talking
about fourex or we done.

843
00:46:04,650 --> 00:46:07,880
Oh, I'm talking about just, I suppose
suppose looking to automate something and,

844
00:46:07,880 --> 00:46:10,680
and find a, uh, an automated
solution for what their,

845
00:46:10,680 --> 00:46:15,680
their manual trading strategy or their
manual trading ideas or just their ideas

846
00:46:15,680 --> 00:46:17,680
in general. Um, they've got like,

847
00:46:17,680 --> 00:46:21,000
they'd sort of know how the market
works and they're thinking, well, I,

848
00:46:21,000 --> 00:46:25,240
I can't actually execute on half of these
things because I just don't have the

849
00:46:25,240 --> 00:46:26,760
time. So I need, if I have a robot,

850
00:46:26,760 --> 00:46:30,480
then I've got a robot doing the work
for me and I can get that idea done and,

851
00:46:30,480 --> 00:46:34,520
and see if it actually can just make
money whilst I'm doing my n normal manual

852
00:46:34,520 --> 00:46:37,280
trading. That kind of person who's like,

853
00:46:37,430 --> 00:46:40,040
I want to delve in here and I
dunno where to, you know, what,

854
00:46:40,040 --> 00:46:41,560
what steps would I need to take?

855
00:46:43,440 --> 00:46:48,130
Well, uh, couple things. Number one is
highly, highly recommend robot trading.

856
00:46:48,160 --> 00:46:51,730
I fell in love with robot trading
in 2012 and never looked back. Uh,

857
00:46:51,730 --> 00:46:53,130
I have branched out and,

858
00:46:53,130 --> 00:46:56,410
and opened accounts for discretionary
trading but that's just very recent.

859
00:46:56,410 --> 00:46:56,890
You know,

860
00:46:56,890 --> 00:47:00,890
I went a decade pretty much with not
worrying about anything discretionary.

861
00:47:00,890 --> 00:47:04,450
So definitely worth your while, number
one. Number two is, how do I get started?

862
00:47:04,450 --> 00:47:09,090
Well, you'd have to find, oh man,
you'd have to find someone you trust.

863
00:47:09,320 --> 00:47:12,090
I, I would go buy a robot.
Of course, I sell robots,

864
00:47:12,090 --> 00:47:16,490
so that's disingenuous to a point. But,
you know, I post results on my site.

865
00:47:16,490 --> 00:47:18,850
So find someplace like, or
something like, you know,

866
00:47:18,850 --> 00:47:23,210
what I'm trying to do and trying to be
transparent and look at the results for

867
00:47:23,600 --> 00:47:26,970
a month, two months, or even a
year. Find something that, you know,

868
00:47:26,970 --> 00:47:29,160
you can trust that someone's
trying to do, honestly, honestly.

869
00:47:29,160 --> 00:47:32,560
And not trying to trick you and
make a sale, you know? Um, and then,

870
00:47:32,560 --> 00:47:37,120
and then say, okay, well this was
automated. Um, it's, it's done this.

871
00:47:37,120 --> 00:47:40,320
Oh look, it, it does lose, but,
oh, in the end it does, you know,

872
00:47:40,320 --> 00:47:44,160
the big profit targets make up for it
and then consider it with small trade

873
00:47:44,160 --> 00:47:48,720
size, getting someone else's and
trying it the other way though, if,

874
00:47:48,720 --> 00:47:52,320
if that's still too scary, you
can go on the big timeframes,

875
00:47:52,320 --> 00:47:55,480
whether it's four X or anything else,
go to a four. You know, there are,

876
00:47:55,480 --> 00:47:58,720
I give away free strategies
in my newsletter all the
time that are based on four

877
00:47:58,720 --> 00:48:01,800
hour and daily. They, you don't
need a robot to trade 'em.

878
00:48:01,800 --> 00:48:05,240
Like you can see 'em coming a mile away
and it wouldn't be any trouble at all.

879
00:48:05,370 --> 00:48:10,200
So take a robot, but it's so easy
to trade cuz some of the rules, I,

880
00:48:10,200 --> 00:48:12,760
I'm, I'm still shocked at
how simple the rules can be.

881
00:48:12,760 --> 00:48:16,640
Make money if you're trend following.
And then just honestly, you, you know,

882
00:48:16,640 --> 00:48:17,160
say, okay,

883
00:48:17,160 --> 00:48:20,680
well I'm gonna trade a four hour chart
live it trades once a week or maybe once

884
00:48:20,680 --> 00:48:23,440
every other week. And then,
okay, I did it myself.

885
00:48:23,440 --> 00:48:25,120
Let's automate it for those two pa,

886
00:48:25,120 --> 00:48:29,560
get someone that you trust and try it
or take something long term that you can

887
00:48:29,560 --> 00:48:32,040
handle easily and then just
automate it from there.

888
00:48:32,250 --> 00:48:36,850
Brilliant. Awesome. Well look
ho, hopefully folks here, uh,

889
00:48:36,850 --> 00:48:39,570
got a ton of value out of
this. I know I did. Um,

890
00:48:39,630 --> 00:48:43,370
and can apply some of this either to
your manual trading or if you are an

891
00:48:43,370 --> 00:48:45,250
Autotrader, then you can apply it to that.

892
00:48:45,380 --> 00:48:48,530
Or if you've even looking in getting
into it, you know what to do now. So, um,

893
00:48:48,530 --> 00:48:52,010
Scott, what's the best way for
the traders to get hold of you?

894
00:48:52,860 --> 00:48:56,700
Scott welsh strategies.com please
come and I do have a YouTube channel.

895
00:48:56,700 --> 00:49:01,380
That's Scott Welsh Strategies. So yeah,
either way, free stuff on both. So, uh,

896
00:49:01,380 --> 00:49:02,380
you can go either place.

897
00:49:02,610 --> 00:49:05,500
Yeah guys, go and check that
out. And we also did, uh, record,

898
00:49:05,500 --> 00:49:07,300
I mean you've been on the show
a couple of times already,

899
00:49:07,300 --> 00:49:10,740
so you can go and check those previous
interviews out if you want to learn a bit

900
00:49:10,740 --> 00:49:12,620
more about Scott and what he's done.

901
00:49:12,620 --> 00:49:14,980
And I think that we even did a
video last time where you broke,

902
00:49:14,980 --> 00:49:18,620
we came up with a strategy and I think
you even did a challenge as well.

903
00:49:18,620 --> 00:49:19,300
You did one on the bank.

904
00:49:19,300 --> 00:49:21,660
I think challenge. Yeah,
yeah, you did all sorts.

905
00:49:21,660 --> 00:49:24,260
Of stuff. Yeah. So look, a big thing
you to Scott sharing with us today,

906
00:49:24,260 --> 00:49:25,340
everything we've discussed here,

907
00:49:25,340 --> 00:49:27,380
along with all those links are
on the show notes to find them,

908
00:49:27,380 --> 00:49:31,980
simply search for Scott in the search
box on trading net.com. Until next time,

909
00:49:31,980 --> 00:49:34,740
wish all my, uh, listeners
trading happiness and success.

910
00:49:34,740 --> 00:49:38,780
Alright folks, interview Dun and dusted
with Scott Welsh. Now do remember,

911
00:49:38,780 --> 00:49:41,780
if you are looking to
automate anything that you do,

912
00:49:41,930 --> 00:49:46,220
either coming up with ideas and just
making them into strategies or just even

913
00:49:46,220 --> 00:49:47,100
send me automated stuff,

914
00:49:47,100 --> 00:49:50,180
then I do recommend checking out my
Robot builders club. Now, as I said,

915
00:49:50,180 --> 00:49:54,380
there's a few other things in there. A
$1 trial of the Robot lab live. There's,

916
00:49:54,390 --> 00:49:57,500
uh, the boot camp, which is a lot
cheaper than Robot Builders Club,

917
00:49:57,500 --> 00:49:59,500
and then Robot Builders Club as well.

918
00:49:59,500 --> 00:50:03,740
So worthwhile checking out those
on trading net.com. Other things,

919
00:50:03,740 --> 00:50:06,820
we've got that video coming up where
I try and make photo grand in a week.

920
00:50:07,120 --> 00:50:09,100
And the last, but not least,

921
00:50:09,100 --> 00:50:13,140
if you are wanting to come on the trading
that live Streams is an opportunity to

922
00:50:13,140 --> 00:50:15,820
do it, taking part in a
Fidel Crest challenge.

923
00:50:16,030 --> 00:50:18,980
So all you need to do is go on there, uh,

924
00:50:19,260 --> 00:50:22,060
register underneath the video
or in the podcast description,

925
00:50:22,170 --> 00:50:25,020
tell me about yourself,
about your your channel,

926
00:50:25,020 --> 00:50:28,820
show me a little video and we could get
you here on the Trading Nut channel in

927
00:50:28,820 --> 00:50:30,900
the future. Alright folks, enough from me.

928
00:50:31,020 --> 00:50:34,580
Thank you for watching and we'll see
you in the next episode or video.