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Profitable System - but I'm a one trick pony
Hello - since working with Al's course and many other trader mentors online I have a system I can use which backtests very positive for multiple pairs + timeframes. Tested on years of data. It will offer enough trades to use it maybe 3-5 times a day.
It just seems strange that I can so far only trade one setup successfully, even though i try so many other setups I haven't gotten reliable results. I am obsessive with testing - like used this on 4 years, 4 pairs, every bar, until I can almost just use intuition to know whats likely to happen.
Does anyone else have a situation like this?
If I could learn to profit in nicely formed trading ranges that would cure the down time. I want to be able to swim in any current someday in the future. But for now I study 🙂
Which set up is this may I ask?
Sure! Just using breakouts and my ability to diagnose good from bad. So it’s not transferable really, I make a lot of human decisions about the context.
I'm mastering wedges. Wedge bottoms, Wedge tops, wedge bull flags, etc. I know now when a wedge bottom is forming whether I will buy the 3rd push down before it happens. As I'm mastering them, sometimes I think a wedge bottom is forming, but it turns into a double bottom, or a HL MTR, or a LL MTR. So I'm getting to know them better. My weakest trading right now is in tight channels.
I know some guys master 2legged moves (MM) after studying Al. Others focus on trends and breakouts. Others create a whole new system with the knowledge. It's what I love most about this course, Al hands you the tools to read the market, what you build with those tools is completely up to you.
It's ok to be a one trick pony, as long as you know you're still learning. Don't close your mind to any other opportunity. Markets change, and your setup might not work anymore in 2 years. But for now, building confidence is your main objective, and being a one trick pony will speed up that process by a lot.