question testing out a strategy rule of thumb???

[ragamuffin]

This is may seem a silly question ! for how long is a piece of string !
But wanted to ask what are other members what would they consider is their own criteria on when to go live with a particular strategy.
I know that in practice mode the results are somewhat unreal, as i have read on the forum that the market does not react to your trade in the same way as if live .
But my question is what do you guys look for ie in my case in practice mode i have had a 75%-80% strike rate with small stakes taking small percentage from the market.
My strategy is small stakes that do not really effect the market in and out pre and in play for small profits over many markets
I think have already identified the type of race that suits my fledgling strategy works best
So how many days or selections would you consider running in practice mode before going live and any other parameters that a fledgling trader might need to consider
Cheers
Ray

[Dallas]

This video might help answer a few of your questions
https://www.youtube.com/watch?v=S-i3fSkT9LI

[MemphisFlash]

a piece of string is twice the distance from the centre to the end?

[ShaunWhite]

a piece of string is twice the distance from the centre to the end?

classic method... But if you can't find your tape measure in your shed, wind it round some 2" pipe and times the number of turns by 6.28.

[jimibt]

a piece of string is twice the distance from the centre to the end?

classic method... But if you can't find your tape measure in your shed, wind it round some 2" pipe and times the number of turns by 6.28.

easy as ... see, i resisted the dad joke..

[ShaunWhite]

There's smart, then there's too smart.

[sa7med]

It was a bit scary for me at the beginning (I think I ran practice mode for a month before going live), but finally reached the conclusion that if it's not betting my entire stack or making any mistakes for a few days on practice mode (especially on saturday if you're doing horse races) and it's in the black at the end of a day or two, ill start to run it live with small stakes and slowly up the stakes if it's going in the right direction. The video Dallas posted is very poignant, don't be discouraged by a few negative days...just keep good records i'd say

[ShaunWhite]

Yeah it can be scary at first trusting your bank to some software.

If you feel you'd like to add another safety net, only have a few quid in your BF account. It's easy enough to move money in and out so it makes sense to just give it 20 quid to go and play with and see if you get any change back.

[LinusP]

Yeah it can be scary at first trusting your bank to some software.

If you feel you'd like to add another safety net, only have a few quid in your BF account. It's easy enough to move money in and out so it makes sense to just give it 20 quid to go and play with and see if you get any change back.

That’s where the exchange games wallet comes in handy, just transfer your main bank into there just in case as you will have bugs.

[LinusP]

Regarding going live for me it depends on the market, if inplay and breaking even or in profit over a day (min stakes) I immediately push to live as I find you tend to get matched at better odds in live.

The only time I am wary and want considerably more practise time (or backtesting) is if the strategy is doing something stupid where luck plays a big part, laying 3-3 on a football game...

It’s tricky to quantify but the type of strategy plays a big part as well, for example if you are only placing one order/trade per market then you need a larger sample compared to a scalping strategy which is placing multiple trades per selection.