ForexTradingAdvice

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As 9095 of new forex traders lose money within the first 36 months this article helps to guide new forex traders by asking 5 questions that the forex trader needs to know prior to backtesting their 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 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 whove already read it So if you know you have indicative prices then you know youre in for some good results However if you have any of the other three you need to be careful on how stop and limit orders are placed As an example If we had bid price history and we were looking to place a buy entry stop at 0830 EST according to the days high then we know that the bid price will not accurately reflect

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