Why do I doubt my strategies when trading in Forex?

Many amateur traders doubt their strategies when trading and are afraid that when they open positions their strategy will not work and they will lose. This fear and doubt about trading strategies leads them to make wrong decisions and open wrong positions. Today, in this article, we will learn how to open a position without fear and worry, and how to trust our strategies while trading.

How can we trust our strategies when trading?

You should backtest the market using your desired strategy for the last 60 days and fully check the performance of your strategy. after you have backtested the market for the last 60 days, you should start trading with a demo account to make sure that your strategy is working correctly and is profitable.

Using the backtesting method will reduce your anxiety and stress when trading and you will be able to enter a position with more confidence and calmness when trading and as a result make better decisions.

The right way to backtest the Forex market strategies

1_The backtest of each currency pair or index is specific to the same currency pair or index

For example, if you backtest your strategy on the EUR/USD currency pair, you can only use this strategy on this currency pair. this is because the behaviour of each currency pair is different from other currency pairs and other indices.

2_ Backtest your strategy on at least the last 60 days of the market

In order to open a position while trading with confidence and peace of mind, you need to backtest your strategy over the last 60 days of the market.

3_ When backtesting the market, you must carefully check the performance of your strategy

When backtesting the market, you should write down details such as the number of profits and losses and the number of rewards. Writing down this information will help you understand whether or not your strategy is working.

We hope you enjoyed this article.