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Phase 2 - Review & Refine
PHASE 2 - REVIEW AND REFINE
PHASE 2 - REVIEW AND REFINE
DEMO ONLY:
DEMO ONLY:
We are trading in demo only until you reach Phase 3.
Goal:
Goal:
Now we have started to master the foundation habits of a successful trader, we move on to developing the habits that turn trading into a wealth building tool for long term.
Develop the habits of review | implement | backtest
Be profitable 3 months consistently on a demo
Review | Implement | Backtest
Review | Implement | Backtest
Review - Review past trades to look for common reasons why lost/won trades, e.g; you didn’t stick to all the rules 100%, there are certain times trades usually lose on certain pairs, similar market conditions, news events, certain days of the week and other possibilities.
Backtest – Back test the new market rules you are implementing to test viability and give confidence in the system
Implement – Add New Rules drawn from reviewing past trades and backtesting (1 at a time) to test in live forward trading
Time Required:
Time Required:
Indefinite (3 to 6 months), until consistently profitable on a Demo acct
Completion Requirements:
Completion Requirements:
Maintain all the habits established in phase 1
Adopt the Review | Implement | Backtest habits of phase 2
Show an emerging ability to implement positive changes to the trading system
Be profitable 3 months consistently on a demo
Every 30 Days Completed - Book a Zoom with your Mentor/Enroller
Every 30 Days Completed - Book a Zoom with your Mentor/Enroller
They will review your progress an confirm if you are ready for Phase 3
Phase 3 Entry Requirements:
Phase 3 Entry Requirements:
Be consistent in following all rules of phase 1
Develop the habits from Phase 2 - Review | Implement | Backtest
Achieve 3 months of continual profits
Your mentor will also consider:
Was the strategy suitable for your time availability, your style, and risk appetite? Work with your mentor to find alternative strategy if not suitable.
Go To: Phase 3 – Go Live
Go To: Phase 3 – Go Live
Disclaimer: All content and information provided on this website are for educational and informational purposes only, specifically relating to trading in financial markets. They should not be construed as specific investment recommendations, endorsements, or solicitations to buy or sell securities or any other investment instruments.
MWT does not provide direct broker services, trading services, or hold custody of any investor funds. MWT is not a licensed investment service provider and does not offer any services that would fall under such categorization. Any references to “trading” or “trader” on our platform should be understood as notional or fictitious trading on demo accounts. MWT assumes no responsibility or liability for any misinterpretation, misuse, or reliance on the information provided on this website.
Trading Futures, Options on Futures and FOREX involves substantial risk of loss and is not suitable for all investors. Opinions, market data, and recommendations are subject to change without notice. Past performance is not indicative of future results.
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