Continuously Developing Profitable Trading Strategies - Boris Schlossberg
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- Опубликовано: 31 май 2024
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Show notes: www.desiretotrade.com/176/ (available 01/08/2019)
In episode 176 of the Desire To Trade Podcast, I interview full-time trader Boris Schlossberg. We discuss his transition from manual to automated Forex trading and how Boris develops profitable trading strategies, as well as how to increase your chances of success in the Forex market.
You can listen to this audio interview on your favorite podcast platform (iTunes, Stitcher, Spotify, etc.)
Timestamps:
0:00 Intro
0:40 Who Boris Schlossberg is and what he does
2:08 How Boris Schlossberg started in trading and learning its nuances
11:03What Boris’ advice on high volatility and big moves is
16:22 How to prevent a “crash”
22:45 How Boris did the shift from manual trading to algos, and the strategies he used
28:39 What you have to do on a daily basis or the work involved as an algo trader
32:24 How long the front trading phase is and backtesting
34:03 How to review your algos
36:05 Why Boris recommends learning the basics and then going to algos
44:42 What Boris’ goals for the future as a trader are
46:53 Boris’ one piece of advice on how people can thrive as traders is
And many more!
// How To Find Boris Schlossberg
The online conference to learn MT4: www.mt4traderfest.com/home
Twitter: @fxflow
Boris Schlossberg's website: www.bkforex.com
Forex Trader Community (Facebook Group): bit.ly/2esoMYj
// About Me
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
What you must know: I'm all for trading foreign exchange, but I think freedom is much more important than time spent in front of your computer.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
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What's your #1 takeaway from this interview?
Thanks for excellent interview it’s given me new hope .I have blown up my third account .I can only blame myself got greasy and started over leveraging I was $27k up and ended up blowing the lot. Thank you for the good work
Correct me if I am completely wrong but back testing proves to the trader that what they have built works and that builds confidence in their system to trade it forward.
@@justgjt ...you have not listened to him, and have not actually placed live (non-simulated, real money) trades with a system. It’s very rare that an algo works with real money the same as a backtest shows.
Take your time and mature as a trader …… yes the 5 minute chart is fun but just come of the gas and trade on a safer higher time frame.
Thanks!
This was without a doubt one of the best interviews. I speak on the same Traders Expo circuit as Boris and sat in a few times to his presentations on my down time. Real deal trader here and truly gets it. Rare to find a long term pro trader who still understands the challenges of the small account trader. Great job both!
Glad you liked that interview, Michael! Much respect 💯📈
Developing Strategies is always tricky...But the most important thing is to have a clear idea of what the goal of the strategies are
One of the best trading interviews I’ve seen so far ! …………..the driving a F1 car analogy is gold 👌
I’m very glad to hear, Christopher!
So far my favourite interview
Great interview E his advice to always be humble is so true. Not just in trading but also in life . You learn and experience so much more.
That's a big lesson 💯
Thank you, Etienne, for Sharing Boris Schlossberg Interview.
My pleasure, Paul! I hope you liked it :)
Great video!! Thank you both. I love the humble part i think this applies to so many things and opens up my mind allot to learning from others :)
Totallt right! Thanks, Gabriel!
Thanks Etienne - you made me sound a lot smarter than I am :)
Really good advice that you provided my listeners!!
Boris Schlossberg AA
My all-time top-10 educational RUclips video. The subjects that were touched during the interview are cornerstone to the majority of the retail traders
Great information video thanks for the support..
Glad you liked that interview, Jorge!
Great interviews. ❤️
Thank you, Walid! Glad you liked it!
Super interview, loved it :) One take away for me was he he Don't Quit :)
Glad you liked it, Peter! 🔥📈
Listening from 2022 it's amazing interview we have seen much more than 3000 points
Really interesting what he says about backtesting and risk reward. I try so hard to get that 3 to 1 in a trend trade. Very hard to get there. So now I am looking into how far successful trends go from my entry point. 40 to 60 pips is what the majority gets. Then there are of course a few outliers that go more than 100 pips and some even several 100 pips. But one has to plan for what normally happens, not the outliers. So it seems I have to tighten my stop loss so it will be 2 to 1 in order to get 50 pips.
Also he said it is like impossible to get a 3 to 1 risk reward. Just saw another interview (maybe it was on this channel) about a guy who only traded if he could get 3 to 1 or higher. A lot of strong opinions on diverse bug traders. They speak like their word is the law.
Great comment. Hopefully, those traders mean they *expect* a 3:1 RR, and they respond appropriately to the market after puttting on the trade. I hate to hear people say things like “I need the price to get to this point”, or “the price moves to the moving average” - clearly misunderstanding the market and the math! ;)
On most systems you are better off being dynamic than using set RR, have exit conditions similar to entry conditions based on the timeframe you are managing the trade, If im trading a swing I try to hold until I see a reason using my entry to take the other side of my trade, example is a trading range, it would be foolish to take 2 to 1 if you bought the bottom and price is moving up to the top and you cut your win at 2 to 1 if the range is offering 4 to 1.
Vastly different style than Al Brooks (another recent interviewee of yours). I found Boris's message fragmented and his communication style hectic. At different times he seemed to be implying he knew what he was doing (in his trading), and later saying he didn't and that he occasionally changed his approach and method. Whereas, in your recent Al Brooks interview, Al was clear and concise when explaining his trading approach and style (intraday momentum 5-min chart trading respecting various chart patterns without any indicators or algos) which he has used for the past 20 years.
I think that's a personality thing... Al might be preferring stability vs change. Thanks for the comment, Graeme!
Al brooks is just different in my humble opinion . I've learned allot from both of these guys :)
@@gaberoyalll Yes! This! Personally, I have a hard time learning anything from Al Brooks, his style of speaking just puts me to sleep. ;) I’m very impressed with Al’s move from surgeon to trader, but again, just hard for me to get an actual ‘system’ or rules from his videos.
I made an algo, and so far so good. Took forever and yes, what i thought was my strategy was really not, great interview!!
That's good! Thanks for the comment!
...so far so good with at least a hundred actual, real money trades?
He has quite Interesting take on trading.
Agree with you on that! 🙌
Such an articulate guy
Great insight from this interview....gold!🙌
I am looking for the toolkit, is this still available somewhere?
How can I get your Algo trading system
Is there a way I can connect Boris?
Successful trader = guy who didn't quit.
I make most of my money on forex (trend) continuations, I lost most of my money trading forex reversals. Hint: I no longer (intentionally) trade reversals.
Amplitude is not a problem for me because my algorithm is based on ATR. ATR is the single greatest forex indicator every created. It doesn't tell you to go long or short, but it instantly adapts your algorithm to volatility for each SPECIFIC forex pair. ATR will tell you how to size your trades for the current volatility.
I like what Boris says about using an algorithm, and if you hard code that algorithm in somthing like TradingView's Pine Script or Metatrader's MQL, you just made backtesting your system virtually effortless.
Nice
I wish you would have asked him why MT5 has not gained more traction compared to MT5. :)
Watching the GME saga play out taught me one thing, the market is rigged!! Now all my trading revolves around fading whatever the market looks like it’s doing lol
2007, I wrote a trading book. Written by Boris Schlossberg & Kathy Lien. Up until now, I'm a momentum trader🚀🚀🚀
At last!!!!!! The BS of back tests 🤛
your lost he sed its a must
How is backtesting bs?
cafe lean ?
Kathy Lien is that’s what you’re referring to…
ok how do you have support and resistance without the past candles.. also how do you know the trend or range without past candles don't agree..he is just trying to hype up robot trading..
Did you listen to the interview? He’s saying backtesting is not the same as actual trading, which anyone who has actually tried to use a system (even with a robot) has found out. He also said he DOES backtest, but it’s a VERY minor part of trading - he would rather put a small amount of money into the system to see how it actually works.
44:50 i don't think volatility is good and i don't think it will give people ideas about how to trade.
Right. However, I think people become more interested in trading when they see markets move a lot.
How are you making money with a non-volatile market?
@@ScottHz you can. a trending, non-volatile market has (ideally) a straight line price chart. i don't think my original comment was correct though. volatility might give people ideas about how to trade. whether those ideas are profitable or not... also volatility might be good for trading the VIX.
Ah yes... the flash crash :p
Of course :)
quality interview
I'm glad you liked it!