Who are we?
Daveatt from TradingView and...
Hey, here's Dave, CEO and co-founder of Best Trading Indicator™.
I’m a former professional quant trader, now working for myself.
While trading, I was part of a small community of traders, who required a lot of my time building them indicators, semi-automated, and automated strategies across many brokers.
My associate is no other than my father - a former professional trader who shared with me this intense and bruning passion for trading, and teaching.
If you're already up-to-speed regarding what we're thinking about trading and psychology, we invite you to go to the next step here.
Lessons learned the hard way
What becoming a Best Trading Indicator member means
If anyone is claiming that, any of those 3 points is incorrect, let's ask them to show us their track records over the last months/years.
Well… if you’re paying them you’re in business with them, as you’ll be in business with me, if you buy/rent any of my indicator. We did our best, with the guides and videos to educate our audience. And we'll animate our forum + will host 1 live coaching a month to answer the most frequent asked questions.
Why are we offering our trading indicators
We love that all the tools developed over the past 6 years for ourselves, may also become yours, and enhance your trading as it did for us, and our clients
We built over time specific but also generic indicators. Generic means they're made to work with all asset classes (STOCK OPTIONS, CRYPTOS, FOREX, INDEX, ...)
Our customers can use our Algorithm builders combining many sub-indicators, and they will give a signal whenever a convergence is detected.
Let's demystify the 3 trading myths
Have you met Joe?
Let's introduce, Joe, a brillant dude - he concluded to jump into that "trading thing" and growing his capital by 1000% within 2 months. That’s the initial and very (or maybe not) realistic plan he had. His friend "Crypto Rekt Cat", assured him this is a "sensible" goal to achieve.
1.A good backtest DOES NOT doesn’t guarantee future performance (but may helps)
Fast forwarding a month later, JOE didn’t sleep for a week, as he was backtesting and updating his indicator configuration back-and-forth getting closer to a 99.99% win-rate, and to an impressive 0.01% drawdown of total equity at most.
His "Crypto Dog/Cat/Duck Guru Super Crypto Bitmex X25 leverage 1-minute" $10000 strategy, advises him now that he has a 99% win-rate - there is no other possible outcome than winning every trade, making him a few millions, without even noticing it thanks to that new killer strategy. "The 1% a day is not a lie" - that's what Joe was thinking at that moment.
He even thinks of renting/selling it, and growing as a trading influencer on Instagram (He already took selfie pictures near the swimming pool, showing off his nice rollex watch, some $500 notes, pictures of him with girls at a party) - claiming trading is "easy", and he even ordered a flashing yellow Lamborghini.
Some of you might feel what’s coming next.... : the "getting quickly rich" dream is fading away, once the system is set live on the real market.
The 99% win-rate from the backtest became a merely -20% win-rate - with multiple consecutive days with massive drawdowns dropping his account value...
2.Trading is only drawing trendlines and be aware of major macro events
Our empty-pocketed friend Joe, settled to go for a few months break, meditated a lot, did a silent yoga retreat in Bali.
He really needed it to build back his confidence in himself.
While most would have given up at this stage, he chooses to jump back into trading, but using a different methodology.
He was happy with his indicator signals, but realized they weren’t optimal. And there are always unexpected events he wasn't prepared for. Why D.Trump always interfered with his trading plan by storm tweeting whenever he took a trade. Was the USA president spying on his trading screwing him over, or was he just unprepared.
Joe, realized, his losses were due to external factors in the end. How could it be any different, he worked so hard.
Joe scrutinized the market again for weeks, read many trading books, teaching how to be the "best trader version of yourself in 2 weeks only"
He finally remarked that, the candlesticks often behaves the same way, according a set of conditions are reunited.
He's so pleased of his patterns and trendlines. He noticed that every time Donald Trump tweets, or the FED made a public announcement, the US stocks jumps to the roof, and will hit exactly his trendline he drew months before.
"No one else observed this" said Joe. He was so happy that he finally, him, and no one else, discovered the SAINT GRAAL of trading.
"It's about time to get my revenge on the market and on those gurus who scammed me out"
He often observes his drawings will become self-fulling prophecy in the future, and thinks he's now a “market maker” - “Too easy” he used to say.
His demo account, went from 100k to 500K within a week. Joe thought he was more than ready for the market.
He took those demo trades from the train station, while dating his girlfriend and even between 2 sets of tennis.
3. Markets are manipulated
Let's go straight to the point. They totally are.
But blaming the casino for losing our money is like... blaming the casino for losing our money :)
Joe just didn't have the right tools in hand to edge
My first trading mentor said, there are 4 levels of "expertise" when mastering a new skill:
1- when we don't know that we don't know.
2- when we know that we don't know.
3- when we know but still have to consciensouly make an effort to achieve the expected result
4- everything is easy and we don't even realize we're doing it.
The "gurus" illusion made Joe believing he was at the step 4. although he's still at step 1.
They know Joe doesn't know (because he started trading a few months ago), and squeezed the maximum of money out of him - before he realizes the bad deal he got into.
Proper trading tools ease any trader psychology
What Joe forgot was the psychological dimension of trading which the most important by far. We’ll cover here what happens next, and what Joe should have done to prepare himself properly, but we presume you've already guessed: if drawing trendlines and patterns is so easy, why aren’t we all multi-millionaires?
But Dave, are you telling us that indicators sold by any vendor, are useless if not used correctly? One thousand times YES !!!
Needless lying here, but that’s where we may bring you an immense additional value for your trading.
They’ll automate tasks you used to do manually every day.
You were combining a lot of those small tasks, and many of you spent a lot of hours, waiting for the signals to apprear on your chart.
It's tiring stressful, and let be tramsparent... also laborious
Maybe, that’s why a whooping 90% of traders lose money on the markets over years… (yes lose, they’re not even breakeven). PS:
This is a rhethoric statement, we know that traders lose, because of psychology - which is impacted by poor-quality indicators/backtests/gurus.
Is Best Trading Indicator any different than other unscrupulous vendors?
Our psychology could be balanced with reliable trading tools
Automatizing your analysis, may reduce the psychological dimension of your trading, big times.
It won't cancel it out completely obviously, but removes a lot of "I don't know/I doubt/I'm unsure/I'm scared".
We made those indicators for ourselves first for those reasons - we don’t like staying in front of the charts either, and we're humans.
We're also affected by a poor quality night, stress, and all external factors interacting with our emotions. - The Algorithm Builders are made to trade like a "machine" - to remove as much as possible the "emotions" part of the trading equation.
We wrote loads of content highlighting why the Algorithm Builders and our backtests may help your trading.
Many scientific researches show trading performance is invertly correlated to the time spent in front of the charts. (many hours a day in front of the chart often led us to poor performance at the end of the day)
100% automated bots?
We wanted to invent a flexible and reliable trading method to trade like "machines".
Why do you think algorithmic trading exists? Perhaps it's because they're better than us - solely because they don't have that psychology component leading us weak (humans) to commit mistakes.
The funny part now... is most of those trading bots might work for quite some time and then........ the market/broker will change its "market-making" algorithm .....and the wonderful bots will lose all the previously accumulated gains (if any).
We've seen this scenario happening over and over, unfortunately.
Many want the magical bot right away without knowing the basis of trading, risk and money management.