Forex Traders Guide For New Investors
As 90-95% of new forex traders lose money within the first 3-6 months this article helps to guide new traders by asking 5 questions that they need to know prior to back-testing their forex system.
forex system,
Let us jump right in…
1. What data type are you using (or going to use)?
I know this sounds strange, especially if you have experience from another market such as stocks as their generally is only one type of data source available. However, in the forex market you can have up to 4 different data types: bid, ask, mid and indicative. Each have their own little nuances.
forex traders,
If you would like to know more about the data types then visit the article written about the perils of indicative prices. As this will save me from having to repeat the information again and boring those who’ve already read it.
So, if you know you have indicative prices then […]
Original post by mikejohns