Losing streak

[traderjuk]

Im trying to find a workable system to make a small amount on financail fixed odds betting on a regular basis, Im not looking for huge returns but enough to stop me getting disheartened as Ive hit a small losing streak, my methods appear to have failed me and Im not sure where to look, does anyone have a simple system that can help?

Thanks

J

 

[rog1111]

Im trying to find a workable system to make a small amount on financail fixed odds betting on a regular basis, Im not looking for huge returns but enough to stop me getting disheartened as Ive hit a small losing streak, my methods appear to have failed me and Im not sure where to look, does anyone have a simple system that can help?

Thanks

J

Do you know how much of a losing streak to expect, historically ? If so, you would know whether you are still within expected results. Are you able to backtest your methods to discover this ?

GL
rog1111

 

[JonnyT]

I traded a Forex system with 18 losers in a row.

It still owed me nothing after that drawdown.

What it did do is make me look again and what the system was trying to achieve and how I could get it back on the tracks. I think I suceeded modifing the system to work consistantly over a greater time period rather than ab fab over a shorter one.

Losers are inevitable, we have to move on from them.

If you have lost <8 times in a row then I wouldn't be tearing my hair out unless you atr trading with too much size.

JonnyT

 

[pkfryer]

Yeah you should thoroughly thrashed your system with backtesting with lots of time frames and different market conditions to get an idea of how it performs so that you can be confident to stick with it. One of the worst things to do is fiddle with a system when its on a losing streak as there is no way to know that the system is reliable after the fiddling and that you are not just curve fitting for the current circumstances. You must have confidence in your system before taking it live or else, psychologically you will not be prepare for a string of losses or drawdowns.

Make sure you know what is the historical worst case scenario for a string of losses and what your average string of losses and wins will be. If your system constantly starts to push the avereage loss up in the current market, it might be time to start developing a new system whilst gearing down with your current one.

 

[TheBramble]

John, what is the win/loss ratio on your system that's just had 3 losing trades?