Forex Traders Exposed: Why They Won't Tell You about BACKTEST
Forex Traders Exposed is a free lecture from Forex Strategy Course + 12 EAs I Trade Live. You can enroll in the course here: https://eaforexacademy.com/courses/algorithmic-trading/forex-strategy-course/.
Forex Traders Exposed: Why They Won't Tell You about BACKTEST?
Nowadays, there are so many resources where you can learn about trading, there are signal providers, there are WhatsApp groups, Telegram or Slack groups, and so many different social media channels where different Forex traders exposed, mentors Sell and offer their services.
Now, I do not want to talk about that because everyone has the right to do this.
But I will tell you that most of the mentors and traders who sell these types of services will never mention to you or their groups about the backtest.
And the reason is that the backtest proves whether the strategies they are Selling are profitable until the current moment or not.
So the only true backtest is possible with Expert Advisors, and the most popular method is to do it on the MetaTrader platform.
Now there are a few limitations with the backtest on MetaTrader, and I will show you these and I will also show you the more professional methods to perform a comprehensive backtest.
So, whenever you get a new strategy, make sure you can perform a backtest by yourself.
No to simply see images of it or something similar.
It would be best if you had the strategy as an Expert, as a file on your computer, to perform the backtest yourself.
And if the mentor cannot provide you with it, well, there is probably a reason.
This is why many mentors and famous traders will not even tell you about the backtest because they do not want their group members to see that the strategies that they are Selling are not as good as they say or could even be running at a loss.
And obviously, why would you spend money for signal providers or fees to private groups if you can do it by yourself using Expert Advisors without paying any monthly fees?
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