{"id":13702,"date":"2017-08-03T08:08:59","date_gmt":"2017-08-03T15:08:59","guid":{"rendered":"https:\/\/www.tradingheroes.com\/?p=13702"},"modified":"2025-07-30T00:34:06","modified_gmt":"2025-07-30T07:34:06","slug":"youtube-forex-trading-strategies","status":"publish","type":"post","link":"https:\/\/www.tradingheroes.com\/youtube-forex-trading-strategies\/","title":{"rendered":"You Learned a Forex Trading Strategy on YouTube. Now What?"},"content":{"rendered":"

\"YouTube<\/p>\n

When you buy something through one of the links on our site, we may earn an affiliate commission.<\/div><\/p>\n

Here's an email that I get a lot…<\/p>\n

“Hi Hugh,<\/p>\n

What do you think about this trading strategy: (insert YouTube video link)? I want to know if I should start trading it.<\/p>\n

Thanks.”<\/p><\/blockquote>\n

If you have ever found yourself asking this question, then this blog post is for you. I'll go over why it doesn't matter what I think and I'll show you how to get proof that the trading system works (or doesn't).\u00a0<\/strong><\/p>\n

Before we get into it, let's get something straight…DO NOT trade a system you just learned in a live account yet.<\/p>\n

No matter how convincing the person in the YouTube video is, you WILL lose money.<\/p>\n

…even if the trading system does work for them.\u00a0<\/em><\/p>\n

I know from experience and I want to save you from that fate.<\/p>\n

Alright, here we go…<\/p>\n

It Doesn't Matter What I Think<\/h2>\n

First of all, I get it…<\/p>\n

There is a ton of great<\/em> trading education<\/a> out there on YouTube.<\/p>\n

But it can be tough to tell what works and what doesn't.<\/p>\n

So I'm glad that you are asking someone what they think, instead of just jumping in and trading.\u00a0<\/em><\/p>\n

However, what I think about a trading system doesn't matter.<\/strong><\/p>\n

Actually, what anyone else thinks doesn't matter either.\u00a0<\/em><\/p>\n

This is because I have my own biases about trading systems and I will tend to like trading systems that match my personality<\/a>.<\/p>\n

…and it's very likely that you and I don't have the same Trading Personality<\/strong>.<\/p>\n

It's like we are wearing different types of glasses, when it comes to trading systems.<\/p>\n

We will see things in a different way.<\/em><\/p>\n

\"Rockstar<\/p>\n

The same goes for anyone else you ask. They might be a successful trader and they can certainly give you some valuable feedback.<\/p>\n

But at the end of the day, you have to try things out for yourself and collect your own data.\u00a0<\/strong><\/p>\n

Here's how to do that…<\/p>\n

How to Get Proof That YouTube Forex Trading Strategies Work<\/h2>\n

So any time that you learn a trading system on YouTube, you should do two things first.<\/p>\n

Anyone can do this and it will give you infinitely better answers than asking me or anyone else on the internet.<\/strong><\/p>\n

If you cannot test the trading strategy, or you don't understand how it works, then you need to move on to another trading strategy.<\/p>\n

The best trading systems are often very simple.<\/p>\n

…and how will you trade something that you don't understand or have confidence in?<\/p>\n

There are plenty of great trading systems out there.\u00a0<\/em><\/p>\n

1. Backtest the Strategy<\/h2>\n

First, you should see if the trading system would have been profitable<\/a> in the past. It's true that past performance doesn't guarantee future results…but it is the best predictor that I have seen.<\/p>\n

When a trading system performs well in different market conditions, that gives it a great chance of it working in the future. Be sure to backtest it over as long a time period as possible.\u00a0<\/strong><\/p>\n

…one year is not real backtesting.\u00a0<\/em><\/p>\n

You can backtest with something like Forex Tester<\/a>, or you can use the free version of TradingView<\/a>. I recommend Forex Tester, but if you are strapped for cash, then TradingView or MT4<\/a> still works.<\/p>\n

It will just take you longer to go through the testing process.<\/p>\n

Then you can upload your data into something like TradingStats. Here's and example of one of my backtests<\/a>. It's totally free and is a great way to see how your system performs.<\/p>\n

\"Forex<\/p>\n

Ran out of YouTube Forex trading strategies<\/a> to backtest?<\/p>\n

To get more Forex trading strategies, read this post<\/a>.<\/p>\n

Once you have backtested a trading strategy<\/a> and you are satisfied with the results, you aren't done yet…<\/p>\n

2. Forward Test the Strategy<\/h2>\n

Remember that thing about past performance not guaranteeing future results?<\/p>\n

Well, now you are going to test how the system works in current market conditions. This will give you a better idea of how the system works right now.<\/strong><\/p>\n

This will also flush out any potential issues that you could not uncover in backtesting.<\/p>\n

For example, maybe you have a day job and cannot take all of the trading signals that your system fires off.<\/p>\n

If that is the case, your results will probably be erratic.<\/p>\n

Then you will have to figure out a way around this issue.<\/p>\n

You can use an alert indicator<\/a> or schedule specific time intervals to check the charts.<\/p>\n

To Forward Test that strategy, simply take that same trading plan that you used in Backtesting and trade it in a demo account.<\/p>\n

Any reputable Forex broker<\/a> will give you a demo account.<\/p>\n

A demo account will allow you to test the system in real-time, with play money.<\/p>\n

Test the system with at least 99 trades.\u00a0<\/strong><\/p>\n

Conclusion<\/h2>\n

Once a trading system performs well in Forward T<\/a><\/strong>esting and Backtesting, then it's up to you to decide if you should risk real money on that trading system.<\/strong><\/p>\n

I can't (and won't) tell you when you should risk your hard-earned cashola.<\/p>\n

But if you follow this process, you will have a much more educated answer.<\/em><\/p>\n

Does that seem too much like work?<\/p>\n

Yes, it is hard work and if you are not willing to do that, then trading is probably not for you.<\/p>\n

Just being real.<\/p>\n

Do you think LeBron James wins NBA championships by watching YouTube videos?<\/p>\n

Hell no, he has to work for it.<\/p>\n

…so do you.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

What do you do with those YouTube Forex trading strategies that you learn? This post will show you exactly what to do next.<\/p>\n","protected":false},"author":2022,"featured_media":13707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[204239],"tags":[735,201657],"class_list":["post-13702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-education","tag-forex-trading-for-beginners","tag-trading-for-beginners","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"yoast_head":"\nYou Learned a Forex Trading Strategy on YouTube. Now What? - Trading Heroes<\/title>\n<meta name=\"description\" content=\"What do you do with those YouTube Forex trading strategies that you learn? 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