PRO: Backtesting!!

Howdy PipHutters, we are very excited to announce that the backtesting feature has been added to the Performance report. This feature allows you to see how different TP and SL levels would have performed for each signal that you look at – VERY POWERFUL STUFF. This is how the Pro’s trade – with backtesting on every trade that they take.

It is why in all the “how-to” articles demo trading is recommended for beginners – because practice builds confidence and where you place your TP and SL can make the difference between a bad trade and a good trade.

We’ll be releasing a full write-up tomorrow with some tutorial videos, but spend some time playing around with it today, kick the tires, and write any questions you have in the comments below and we’ll make sure to answer them in our full write-up tomorrow.

Here are some quick tips with the new features:

1. Net Profit – is the Gross amount of Pips won – Gross amount of Pips lost. So basically any net profit over 1.00 was profitable over the testing period, and any net profit over 2.0 won twice as many pips as it lost. Most pros consider any net profit over 2.0 as a good system.
2. Forecast Strength – you might have noticed the forecast strength pie charts are gone from the Performance Report. Those were kind of neat to look at, but they weren’t really actionable (i.e. they didn’t actually help you trade). So we removed those and tweaked the entire Performance Report so it only analyzes past signals over a similar forecast strength. This is a really important point because it basically makes the performance report 3x more relevant than it previously was (and it was pretty relevant to begin with!). Because forecast strength is primarily based on the formation and location of a signal within recent price action, we thought it made sense to only compare the candle signal you are looking at with the same type of past signals. So now, for example, if you are looking at a 80% hammer, the Performance Report will only use previous hammers that had a forecast strength of 75-100%.
3. Trend Gauge - On the candle results page you will now notice a trend indicator for a quick glance at which way the trend is leaning
4. More gauges on Performance Report – on the performance report you will now notice 4 gauges: RSI (shows overbought and oversold), ATR (shows volatility to help you place SL levels), Trend (this is the same gauge as above), Trend Strength (shows the strength of the trend as based on the ADX indicator).

Again, we will have a full write-up with tutorial videos tomorrow, but spend some time kicking the tires today, and if you have any questions please put them in the comments below so we can make sure to get to them!

Happy Pipping!!