Forex Technical Analysis based on experience and research.

Evaluation VS. Live

Why using an Evaluation and Live account?

The market is continuously changing so evaluating the strategy and changing it should be done too. On top of that tuning and tweaking may offer better chances.
The Evaluation account is to support the Live account. Before using strategies Live the necessary evaluation must be done. This could well take 6 months to 1 year or even longer if necessary.

The FxTaTrader strategy is an ongoing project that never ends with testing and evaluating. That is the reason for using 2 trading accounts as described. The Live account will be lagging but risks will be lower since evaluation has already been done. Although eventually the trades may be automated it will remain under human supervision continuously to make forward testing and evaluation possible.
I believe backward testing may support better results compared to no testing at all. However, it stands in the way when doing forward testing with a clear mind. Backward testing will create boundaries for the forward testing and that is why I only work with default settings and forward testing. I believe that this way there is a better connection with and understanding of the current market. You may call this the ''feeling" with the market but this is based on rational grounds using Technical analysis.

For the time being trades are done manually after the end of U.S. session. It is possible to implement the strategy in lower time frames like the 4,2 and 1 hour chart. For this it has to be automated and before that is done the strategy will be used extensively in the daily and weekly chart.

The roughly explained method here is a part of the strategy that I am currently using for the FxTaTrader system. This method is not used on it's own and although the explanation may seem simple and clear there is always risk involved. I added a disclaimer to my blog for this purpose.