In order to achieve a level of consistency

over the long run, you need to put in little more effort than

Trading is like any endeavor that you

may pursue

Off-the-shelf strategy

Something from a book

Strategy from “successful” trader on the internet

Frequently you see these people fail

If you don't consider, test, refine & sim trade the strategy,

any number of things could be your downfall

Some guru with a strategy which works

very well for them could have missed out a couple

of crucial details

They may also use a discretionary element from their years of trading experience

Markets are changeable

There are many potentially unforeseen factors which

could end up being detrimental to a strategy

All the traders you've read about that have some level of success that you seek have a trading plan that

they follow

KNOW YOUR SYSTEM LIKE THE BACK OF YOUR HAND

You must understand what it is you're trying to take advantage of in

the market

You also need to know when the strategy is not

particularly effective

You need to know why certain sequences

of price movement trigger an entry signal

You need to know what to expect from the

market after an entry, from both winning and

losing trades

Do all the winners come when the

market darts in your direction immediately

after entry?

Does the system work well in quiet markets or are fast moving

market conditions the most effective?

Fast or slow markets?

KNOW YOUR PLAN LIKE THE BACK OF YOUR HAND

Which time of day to trade it

Knowing how many contracts

Being aware of news releases

TEST IT

It is indeed important to do more than just

automatic back-testing

Be Systematic

SIM TRADE IT

You need to use a simulator which is fast

and has a queue algorithm

"well that works so I'm going to go for it now"

You must expect the unexpected

REFINE IT

Retest the trades you've taken….

Retest the data you've already back-tested

You can't just guess that a particular

refinement will end up being a good one

"Hey, I have plenty of money to play with”

Think about it…..

DOTHE

WORK!