Ep. 68 – How to Launch a Live Trading System with Ali Crooks
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In this episode:
Tom announces exciting crypto trading news
Owen has a little whinge
Ali Crooks drops trading knowledge bombs all over the shop
Ali coaches Owen on how to take his system live and ensure continued quality
We try (and fail) to settle the Pips vs Percentage success yardstick debate
Owen suggests the concept of measuring success by ‘R’
Tom mugs him off
Trader Interview – Ali Crooks – Traders Support Club – How to Launch a Live Trading System
Ali Crooks is taking home the match ball after completing his hat trick. Three appearances on the show must surely rank amongst his all-time life achievements. We didn’t ask him though, in case he disagreed. Awks.
This episode comes flying out the blocks with some thunderous knowledge bombs being dropped left, right and charlie by Mr Crooks. He explains why you should backtest your live trading results every few months. That’s right, backtest your live trades after you’ve taken them. No one loves a backtest like Ali Crooks loves a backtest!
Ali’s data-driven approach to trading will be familiar to listeners of the show. And they’ll be pleased to hear that he doesn’t allow Owen to slack off now that he is live trading the strategies. Owen wants to introduce 12 more currency pairs that he hasn’t actually tested. Ali gives him short shrift on this one, natch.
This opens up a wider debate on whether we can expect all currency pairs to behave in the same way technically – or at least to the point that, if it sets up on your technical criteria then it must act in the right way for it to be tradeable under that system…if that makes sense. No?
Owen considers binning the worst performing 10 or 15 currencies in a year but Ali wonders if that is actually just random distribution…answers on a postcard please!
Owen has a good old fashioned whinge on this episode. Having settled on a ‘swing’ trading system that allows him to trade around work or business activities, he has now realised that this means he has to trade late at night or early in the morning.
Pay attention Owen, come on man!
Ali Crooks is a backtesting guru. He bloody loves it.
On the podcast he has talked extensively about why every trader should backtest. But a 30 minute interview is not long enough to explain in detail exactly how you should backtest.
So by popular demand he has agreed to do a special 2 hour webinar exclusively for the Two Blokes Trading audience: How to Backtest.*
How to Backtest with Ali Crooks: 1900hrs on Thursday 28th September.