This one is an attempt to get you to back test your strategy .No matter how simple it is or time consuming it might seem to you there are huge benefits to doing proper back tests that can lead to a very positive equity curve .firstly staring at charts looking at where you would enter and exit a trade is not back-testing that’s a form of cherry picking trades because its likely you will only see the times the strategy works. here is a list of my reasons why back-testing can save you a lot of time and money.
1.You have confidence – If you have taken 3 trades with a strategy on demo and you decide to take the strategy on a live account then when you take 3 losing trades with the same strategy you will have no confidence whatsoever and therefore change strategies going through the same cycle for months.On the other hand if you have taken 100 trades on demo or simulation(Back test) you wont be scared by a losing streak which is normal in trading.
2.You know your numbers – You can almost quantify everything you do into stats .For example you will have a % win rate ,as well as an average winning trade in pips and stats like this can help you with number 3
3.Set targets – This could make or break a trader because a good trader with unrealistic targets will always fall short and that will lead frustration as well as a host of other unwelcome emotions.However if you understand how many pips your strategy can realistically produce in a month you can set realistic targets.
below is a link for a trading simulator that can help you with back-testing 100% free you can download it with the manual and I hope it helps