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.
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!
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.
@@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.
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.
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.
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
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.
@@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.
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 💯📈
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!
Developing Strategies is always tricky...But the most important thing is to have a clear idea of what the goal of the strategies are
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 💯
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.
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.
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?
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 CZcams video. The subjects that were touched during the interview are cornerstone to the majority of the retail traders
Thank you, Etienne, for Sharing Boris Schlossberg Interview.
My pleasure, Paul! I hope you liked it :)
He has quite Interesting take on trading.
Agree with you on that! 🙌
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!
So far my favourite interview
Super interview, loved it :) One take away for me was he he Don't Quit :)
Glad you liked it, Peter! 🔥📈
Great interviews. ❤️
Thank you, Walid! Glad you liked it!
Listening from 2022 it's amazing interview we have seen much more than 3000 points
Great information video thanks for the support..
Glad you liked that interview, Jorge!
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
Such an articulate guy
Great insight from this interview....gold!🙌
I am looking for the toolkit, is this still available somewhere?
Is there a way I can connect Boris?
I wish you would have asked him why MT5 has not gained more traction compared to MT5. :)
How can I get your Algo trading system
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
At last!!!!!! The BS of back tests 🤛
your lost he sed its a must
How is backtesting bs?
2007, I wrote a trading book. Written by Boris Schlossberg & Kathy Lien. Up until now, I'm a momentum trader🚀🚀🚀
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.
cafe lean ?
Kathy Lien is that’s what you’re referring to…
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!