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Have you ever wondered how to determine quickly whether or not a trading strategy that you want to use is actually profitable? My name is Adrian Reid and I’m the founder of Enlightened Stock Trading. I’ve been a profitable systematic trader for over 15 years, and I’ve been in the markets for over 18 years now. Today what I want to share with you is the method that I use to quickly find out whether or not a strategy is actually profitable. So as you can see on the screen here, I’ve got a Amibroker software open now. Amibroker is my trading software of choice. What Amibroker does is allow you to backtest your trading strategies quickly and easily, and get a good understanding of whether or not the strategy is actually profitable. Now there’s a lot of detail and process that you’ve got to go to backtest correctly, but for the purpose of today’s Amibroker tutorial video, all I wanted to do is demonstrate a backtest and show you just how powerful it is to get insight into whether or not your trading strategy is profitable.


Frankly, most traders out there are using rules that are not properly tested. If you’re using rules that aren’t properly tested, then chances are you’re going to end up losing money or losing confidence or both. We’ve got to prevent that if you’re going to be a profitable systematic trader. So let’s jump straight into it. I’m going to backtest today one of my favorite trading strategies, which is the Freight Train system, which is a trend following system on the Australian stock exchange. Now members of the trade success system get the Freight Train as well as over 15 other trading systems as part of the trader success system. So if you’re interested in learning how to backtest, develop systems and establish a portfolio of systems very, very quickly so you can transform your trading, click the link below to find out more about the trader success system. Right now let’s get into backtesting.


So the Freight Train as I said, is a trend following system on the Australian stock exchange. It also works with some slight modifications on the U.S. market, and many other stock markets around the world. What we’re going to do is we’re going to test the rules in the Freight Train over all of the stocks in the Australian market, over the last 25 odd years of history and we’re going to see how well they performed. So in Amibroker, what we’re going to do is we open up the Freight Train code in here in this formula bar, and I’ve already done that for you before this video. We want to test the strategy from the 1st of January 1993 which is about where the Australian data that I’ve got on my computer starts. I’m going to test it up until the 21st of November 2019 just for the purpose of this exercise. Which stocks are we going to test this strategy over? I’m going to test it over the entire Australian stock market. Watch that list that I just selected is every listed stock in Australia.


Now just how easy it is to get this insight. If you get the insight into whether or not your system is profitable. I’m just going to hit backtest. It takes just a couple of seconds. What it’s doing right now is taking my rules from the Freight Train system and it’s applying them to every stock listed in Australia over the last 25 odd years, and generating all of the buy and sell signals, doing all of the position sizing and assembling a portfolio to show you just how that strategy would have performed had you traded it in real time. Now before I could even finish explaining it, it’s finished. What we’ve got here now is a list of all of the trades that this system would have taken in the past, and when exactly it bought them, when exactly it sold them, how many shares it would have bought, all the brokerage costs. All of that is included in here.


This is all the detailed information, but what I want to share with you now is actually the performance report that really explains how profitable this strategy was. It gives you a whole bunch of statistics that talk about how well this strategy performed. So we’re going to click here on the backtest report, and I’m just going to maximize this window so that you can see it. So let’s just focus a little on this performance report. What it gives you in Amibroker when you run a backtest, you get this report which has the statistics, a bunch of charts, the list of trades, the formula that you’re using, the settings you’ve used for the backtest, all of the symbols that you’ve run that backtest over and some Monte Carlo simulation results, which I’m not going to go into today in this video.


So let’s first have a look at the statistics of, the basic statistics of this system. So I’ve run the backtest since 1993, and there’s a couple of things interesting here. So you can see with this backtest it started with $100,000 worth of capital in the account. So that’s the starting equity in the backtest. I run the backtest over the 25 years and it’s ended up growing to $62 million. Now that’s a compound annual return, you can see here rather here of 27% for the life of the backtest. A 27% compound annual return over that entire test period is absolutely phenomenal. So I’m super excited about this strategy. I really love it. I traded to the back to edge one of the backbones of my systematic trading portfolio, I don’t want to too much about the system itself, I’m far more interested in sharing with you the power of Amibroker backtesting.


You can see here you gets some high level statistics about the performance of the system. You get the annual return, you get the net profit in total dollars that the system has generated, the total profit percentage that’s generated over the life of the backtest. You also get this thing called exposure. Now exposure tells you the percentage of the time the system is actually invested. Now think about it this way. If you were 100% invested 100% of the time, the exposure figure would be 100%. If you were 100% invested 50% of the time, then the exposure figure would be 50%. So why is that so important? Well, one of the mistakes a lot of traders make when they’re looking at a backtest is looking at the compound annual return figure and if it’s low thinking, “That’s not very exciting. It doesn’t make that much money.” But let me ask you this, I’ve got a system that makes about 5% per year on average in the back test over the last 25 years.


So at face value, that’s not very exciting, but what about if it made 5% per year on average but it was only invested about 2% of the time? It’s very, very selective about when it goes into the market to take a trade and so it can, it’s very targeted in its trades and its profitability. So if you can make 5% return per year only being in a market 2% of the time, is that better? Is that good? Hell yes it’s good, because the return on the capital that you’ve invested for the duration of time that you’ve invested is amazing. Now this is why the exposure figure is so good because you don’t want to throw away a perfectly good system just because the compound annual return, which is this figure here, is low. You want to first look at the exposure, and combine that with the compound annual return. So Amibroker has this statistic which a lot of people don’t understand and don’t refer to, don’t use called risk adjusted return.


What risk adjusted return does is it tells you what the equivalent compound return would be had your system been invested 100% of the time. This figure is really, really powerful because I’ve got systems where it makes 5% per year on average. That’s the annual return, but the risk adjusted return is several hundred percent per year. The great thing about systems like that as you can combine many systems together into a portfolio, and use them all in the same pool of capital and really get some amazing returns. So that’s annual return and risk adjusted return. You can also see here one of the things that a lot of traders fail to do when they’re testing and thinking about their systems is look at the transaction costs. You want to know how rich you’re making your broker, and you want to make sure that you’re fully taking into account transaction costs in your testing of your trading system ideas.


So here Amibroker reports the transaction costs, and I have a generous allowance for slippage and commissions in my code for the system. So you can see here that this system generated a lot of brokerage, a lot of commissions, over $3 million over the 25 years. Now that’s great because you have also made money in the process. If you’d have traded the system, you’d have made dramatically more money than that, but a lot of published trading systems, a lot of subscription sites and newsletter services and whatever, they don’t take into account commissions and slippage. Therefore, they might look great on paper before commissions and slippage, but with very razor thin margins. By the time you add slippage and commissions, they may not actually be profitable. So one of the great things about back testing with Amibroker is that you can include different levels on commissions and slippage, and make sure that your strategy is robust and profitable even with commissions and high levels of slippage in the market so that you can be sure that if you trade in real time, you’re actually going to make money, which is what we’re all about here.


So what else do you get in the backtest results? You get a lot more information here. So I was looking at a Facebook group about stock trading of the day, and one of the questions in there was asking how long it take people to backtest manually to get 50 or 100 trades in their manual backtest. My response to that question was why would you do that? Because for you to go back and get 50 or 100 trades is going to take hours if not days of work, and the trouble is 50 or 100 trades is nowhere near enough data for you to actually determine whether or not a system is profitable. So the great thing about Amibroker backtesting is you can generate a lot of data, a lot of trades, so you get much higher levels of confidence about whether your system is actually profitable. So you can see here, this system generated 710 trades in the backtest period. Again, this is a trend following system. The system holds trades for a long time. There’s some very big volume trends in the Australian market, and so you don’t need to take a lot of trades to make a lot of money.


This is another one of the fallacies of trading. There’s a lot of people out there promoting day trading and short term trading and high frequency and all of this, but you don’t need to trade often to make a ton of money. This system has made an absolute fortune. I’ve taken hundreds of thousands of dollars of profit out of the market using exactly this system with real money. So this generated 710 trades over 25 years, now that doesn’t sound like a lot, but it’s a lot more data than you would get manually backtesting. That’s the key here because with 50 or 100 trades, you’re not going to get a real understanding of how well the system performs, because it’s probably going to be 50 or 100 trades from this year, or maybe if you’re lucky the last two years. If we’ve been in a solid bull market for the last two years for example, and you haven’t backtested through 2008 or through the 2000 tech crash, then you have no idea how big your drawdown could be.


You need to backtest over a much period of time in order to get a solid understanding of how your system is going to perform. So this backtest produced 700 trades of the 25 odd years. So it’s through bull markets and sideways markets, and bear markets. So you get a lot more insight into the performance of the system. So what else do you get? You get the average profit per trade in this case 28%, which is really solid. Why is that so high? You might be asking. Well, this is a trend following system, and so the winning trades that the system generates are huge. The losing trades are very small. So it’s lots of small losses, and a small number of very large winners. So it’s a great way to trade because you buy, you get on a winner and you just hold it and it just runs and runs and runs, makes you a lot of money without you actually having to do very much work, which is my favorite way to trade.


It gives you statistics about the winners, so that the percentage of winners in this system is 40, about 46% according to this backtest. This is 46% of the time you’re right. That means about 54% of the time you’re wrong, and you lose money. The great thing is you also know how big the winners are and how big the losers are, and to make money trading if you think back to the expectancy equation, if you haven’t come across expectancy yet, then this is a critical concept you need to look up. The expectancy equation is the fundamental equation of profitable trading, and expectancy is equal to the percentage of winning trades, times the average size of a winning trade, minus the percentage of losing trades, times the average size of a losing trade and that has to be profitable. So there’s four statistics in there. There’s the percent winners, the size of winners, the percent loses and the size of loses. You can influence your trading results by playing with any of those four variables.


In fact, the easiest ones to influence for you to get more profitable are the size of winners and the size of losers, not the percentages. If you just let your winners grow and become monster winners and you cut your losses short, it’s very hard not to make money. I mean when you let your winners run and your profits are really big, they overcome almost any losses that you can make. The key is though, you’ve got to cut your losses. You can’t let losses get out of control, because if you put these examples into the expectancy equation, when you make your winners bigger, expectancy goes up. When you let your loses get bigger, your expectancy goes down. So ideally what you want to do is cut your losses, let your winners run and follow a system that allows you to do that consistently, and you get high expectancy and profitability in your trading. Again, back to Amibroker and backtesting, the backtest report gives you all the information you need to see that and see how that dynamic is working.


So you can see here you’ve got the average percent winners, you’ve got the average size of winning trades. Here’s 79%. You’ve got the percentage of losing trades, and you’ve also got the size of losing trades. So you can work on refining your strategy, adjusting the parameters, adjusting the entry rules and exit rules and the stop losses to give you the maximum profit that you can get out of the strategy, and it gives the backtest report from Amibroker. It gives you all of that. There’s lots of other information that we don’t necessarily have time to go through in this video today, but there’s a few more things I want to share with you. Down the bottom of this backtest report, there’s some really powerful figures. The first one that I want to highlight here is the maximum system drawdown. Now the reason most traders lose confidence and quit when they’re following a system or a set of rules, is because the maximum drawdown that they encounter in their real trading is more than they’re comfortable with.


So just to mention this scenario, you got a system that you’re backtesting or a system that you’re trading rather, and you’re comfortable with the drawdown of say 15%. When that system hits a drawdown in your account of 20%, you’re freaking out because you were only comfortable up to a 15% drawdown, but you’ve now a 20% of your account and you don’t know what to do. Do we hold on? Is it going to turn around? Are we going to start making money sometimes soon? How bad could this drawdown get, right? If you don’t know the answers to those questions, it’s almost impossible psychologically to keep following the rules. Chances are you’re going to pull a pin on the system, start mucking around with it, change the rules and completely ruin it. That’s going to lead to even more losses, or quitting the market in the middle of the drawdown, walking away as a loser. If that’s something you want to avoid, the maximum system drawdown in your backtest is something you really got to pay close attention to. Now this is the statistic I look at before anything else.


When I design a new system and I first test the concept, I’m going to go straight to the drawdown line and have a look how deep the drawdown got in the past, because if that drawdown was higher than I can tolerate, I don’t care how high the returns are because 60% return per year would be amazing, right? If you have to sit through an 80% drawdown to get it, there is no way I’m putting my money on the line to do that, because I just don’t want that level of fluctuation in my account. So when you test a new strategy, you’ve got to check the drawdown and make sure that you’re comfortable with it. What I do is I actually have, for every strategy I develop, I have an objective up front that says what is the maximum drawdown I’m willing to tolerate? That objective drive the system development.


I’m making sure that when I build a new system or when I test a system and incorporate into my portfolio, it meets my drawdown objective because I want to be comfortable with my trading at all times and you should be too. The maximum system drawdown is dip in your account. That is the key to making sure that you stay comfortable. If that gets too high and you lose faith, then it’s game over. There’s a couple of other great powerful statistics in here. Again, I’m not going to go through everything because I’ll take hours, but this CAR over max data, it’s compound annual return divided by max drawdown. What that is is how much money on average per year does the system make, divided by the maximum percentage drawdown. So this statistic, in other packages and other books, sometimes it’s called the MAR, it’s a measure of smoothness of your returns. So you want ideally high compound annual return, a low drawdown.


So if you divide the compound annual return by the percent drawdown, you want that number to be as high as possible. The higher it is, the smoother the equity curve of the system. Now in reality, there’s no real threshold about what level is acceptable or not. It’s really just a case of higher is better. If you’ve got a system that generates a compound annual turnover max drawdown of 0.5, is that good? No, it’s okay. There’s much better systems out there. Is it tradable? Yeah, probably potentially as long as the max drawdown is within your comfort zone. So when I’m playing with trading systems, improving them, optimizing them and making them better, looking at this CAR over max drawdown is an important figure because I always want to make sure that with each change that I make in my system, I’m making that number better and better because what I’m trying to do is make the portfolio return smoother.


I’ll show you the chat of the portfolio return shortly so you can see that in action. You also got profit factor here. Profit factor is something that a lot of trading books talk about. It’s the total dollar profits divided by the total dollar losses. Obviously the higher it is, the better it is. I don’t really use profit factor that much, but a lot of people are interested in it. I much prefer to look at the CAR over max drawdown here, like I said earlier. Then there’s some other statistics down here like standard error, risk reward ratio and ulcer index. These are all different measures of basically smoothness of the portfolio, and consistency of the trade. The key is you don’t need to understand every single statistic in the backtest report that comes out of Amibroker, but if you can look at several different measures of performance, you get a much deeper understanding of how the strategy actually performs.


So that’s just an overview of some of the stats. Let’s go and have a look at the charts and see what that shows. So there’s a couple of great Amibroker charts in the backtest report. The first one is the Portfolio Equity Chart, and what you can see here is from 1993 when we started the backtest up until now, had you followed this system and executed it exactly the way it is described in the Amibroker code, this is the result that you would have achieved in your portfolio. Now this is a representation if you started trading in on the 1st of January 1993 or if you started trading on the 1st of January 2000 or 2005 you get some slightly different results, but this is an illustration of how the equity would move in your account. It’s not gospel. This is not guaranteed that you’re going to achieve this in real time trading, but you need to understand how the equity grows over time, how smooth it is and how deep the drawdown is, how long the flat spots are.


When you’re looking at the equity curve, and this is what we call it, the equity curve. What you’re looking for is an exponential growth that is relatively smooth and consistent over time. What you don’t want to see is big, long flat spots or massive long drawdowns that take years to recover from. You want your equity to be growing consistently year on, year on year. Are you going to have losing months and losing years? Yes, probably. Most systems do have losing periods, but you want to make sure that those are not too long, and that the flat spot and dips in your account don’t take too long to recover from. So that’s what you use the portfolio equity curve for. If you’re interested, you can actually download the equity curve into Excel and see day by day what the exposure in the equity is, and how much cash you’ve got in the account according to the backtest and analyze it that way.


This is the equity curve, and you want that to be nice and smooth exponential growth, like I said. The second chat you get when you’re on a backtest in Amibroker is the underwater equity. Now what this is, is it shows when you’re in drawdown. Now this is critical, critical for traders to understand. If you want to be consistent and profitable, you must know this. You must get this point. You are going to spend a lot of time in drawdown. Now what is drawdown? Well, drawdown is whenever your account balance is lower than it has been at some point in the past. Let’s say you had a hit an old time equity peak of $100,000 at 10 o’clock this morning and at one o’clock today, your account is at $99,000. You’re in a $1,000 drawdown. Well, let’s say you hit an all time equity peak three weeks ago of a $125,000 and today, your account balance, your account equity is $100,000. Well, you’re in a $25,000 drawdown.


What this chart shows is the percentage that your account has fallen at any point in time from the historic peak in your account. You cannot grow your account trading in an absolute straight line. You can never, there’s no system that just makes money every single day. It just doesn’t exist, and anyone who tells you that an absolute freaking lair. So avoid anything that says you can make money every single day consistently smoothly with no drawdown, because it’s a scam. Okay, but drawdown is something that you need to be comfortable with. So when you look at this chart, what it shows you is let’s take this example here, just here. So on that day, the draw down from the previous equity peak, which was about here looks like about 12%, something like that. The maximum drawdown ever was 30% you can see that here. So from the peak, which was about here, because see anytime the drawdown, the Underwood equity chart hits zero, that means you add a new equity high, right?


So all of these points where the blue line is right up the top, that means that the system achieved a new equity high on that day. These points where the blue line is down here in the negatives, that’s when you’re in a drawdown. So the maximum draw down here was 30%. Is 30% of bad drawdown? Well, it depends on your perspective, and it depends on your objectives and your tolerance. Many longterm systems can have quite big drawdowns. 30% is actually okay. I mean, I’d be happy with a 30% drawdown if I can make 25, 30% per year over 25 years, I’m willing to sit through that level of drawdown. If 30% is beyond your level of comfort, then you need to adjust the system or design a system that fits with your drawdown tolerance. The key is you need to understand how frequently drawdowns happen, how deep they tend to be, and the worst possible drawdown that was generated in your backtest. That’s exactly what the Underwater Equity Chart does.


Now the next table that you get in this charts tab is the profit table. This is really interesting, because what it shows you is month by month and year by year exactly how the system performed. So you can see here in January 1993, this system made not 0.6%. Then in February, it lost 1.8%. In March, it gained 9.1% and so on. So you can see month by month and also down here on the side, year by year the returns that system made. This is really important because what it shows you is the variation in monthly returns, and also annual returns that you can expect from your trading system that you’re back-testing right now. Now I know heaps of traders who have got two or three months into a losing streak and freaked out, and given up on this strategy. If you had this information and you knew the three, four, five months, losing streak was perfectly normal, and after that losing streak the system tended to take off and make money, then chances of you [inaudible] confident to sit through that losing streak.


This is why the backtesting is just so important. When you look at this, it gives you an understanding that you can have winning streaks and you can have losing streaks. Several losing months in a row is okay, and you can still end the year well ahead making a ton of money. If you quit in the middle of a two or three month losing streak, you don’t go on to get the recovery. So your account stays in drawdown and you lose money. This is what most traders suffer from. If you start using an approach and you quit just because you have a bit of a drawdown, you’re quitting at the bottom, and you’re always going to be in losses. You’re always chasing your tail, but build confidence in your system by backtesting, by looking at the results, by understanding what’s possible, then you can have the confidence to follow it through, trade through the drawdown out the other side to the profits and keep growing your account really, really critical.


So this profit table is super useful to show you what you can expect from your system. I like to look at this month by month and analyze, or check out the range of possible returns, how bad the losses can get in a month, how big the gains can get in a month, and what to expect on the average. Whenever my real time trading goes outside the expected bounds that I see here on this profit table, that’s a warning sign and you want to check out what’s going on, and whether or not there’s something wrong with the system or whether something’s broken. Now you also get this Profit Distribution Chart. This is a frequency histogram, and it shows the… It’s a frequency histogram showing how many trades give you what different outcomes. So you can see here that there’s 99 trades that give you a small 15% loss. Let’s have a look at these. There’s five trades that give you 150% gain. There’s 24 trades that give you more than a 210% gain, and so on. So what this does is show you the profile of trade outcomes this system will generate.


What I like to see here is a very positive skew, where the results are skewed to the profitable side. I want to see lots of small losses and then a small number of very big winners for a trend following system. A manual version system will have a different profile, but one of the things you got to look out for is big outlier losing trades down here on the left-hand side. If you have a fat negative tail, you got to be really cautious with your position sizing, because if you size too big and you’ve get a fat negative tail where there’s a number of big losing trades, sizing big can wipe out your account. So you’ve got to be really cautious. So understanding the range of possible trade outcomes is critical to your survival, because it feeds into your position sizing. Now you might be out to trade for five or 10 years making really great solid returns with aggressive position sizing, but when one trade comes along that has a massive negative outcome and you’re sizing too big, it can wipe out all of those profits and more and end up destroying your account.


So understanding the full range of possible outcomes, possible trade outcomes is an important feed into your position sizing. So I always want to look down here and make sure okay, with this worst-case trade that has actually happened in the past and my position sizing strategy, will I be comfortable with the drawdown that it actually generates? So that’s the Profit Distribution Chart. The next trade chart that you get is Maximum Adverse Excursion Distribution. That’s a whole mouthful and sorry about that, but there’s also a Maximum Favorable Excursion Distribution. MAE, Maximum Adverse Excursion, tells you how far a trade tends to go against you before it comes back and gets closed out as either a winner or loser. This is really important for setting the width of your stop losses. If you have a system that has a maximum adverse excursion of, or a high number trades that have that MAE of say 25% and you set a 10% stop loss, you’re going to end up stopping out a whole lot of trades that could have turned around and come back as winners.


So your expectancy is going to get impacted as a result. So if you look at this chart here, we see maximum adverse excursion, there’s a whole concentration of trades that have a MAE of only 5% but you can see as you would go to bigger and bigger MAEs, maximum adverse excursions, the number of trades drops. So here at about 30%, this is where I’ve set the stop loss roughly on in this system. So beyond that, there’s not many trades that go beyond that level. So you could see if you had a tighter stop loss, you would stop out a lot of trades that could potentially have been winners in the future. Now another thing that MAE is useful for is analyzing how effective your entry system, your entry signals are. If you have a really tuned in entry, that’s great at picking entry points where from that point onwards the trade goes in the right direction, MAE is really low.


If your entry is pretty random, and doesn’t really do a good job of selecting stocks that are about to move in the right direction, then MAE is going to be much higher. So when you’re comparing two different entry signals, you can look at the maximum adverse excursion and determine which one is better at catching the right entry point. Obviously you’ve also got the system stats, so if you compare two different entries in a backtest, you come backtest one entry and then backtest another entry. You can compare all of the system stats, but just looking at the MAE chart will tell you whether or not your entry timing is spot on or not. Then you’ve got maximum favorable excursion, and maximum favorable excursion tells you how far a stock tends to move in your favor at its peak before being exit. Now this is not the exit point because sometimes the stock will go way up, and then come down and hit your trailing stop or your exit point.


When it does that, the maximum favorable excursion is the distance that it’s moved in your favor as a percentage at its peak. So maximum favorable excursion tells you how good your system is at capturing great moves. Your exit timing, you want to design your exit to capture as much of the favorable excursion on your trades as you can. So here what you can see is this system generates a lot of trades that don’t go very far, but it’s got a really fat tail of trades that doesn’t go almost to the moon, and this is what a good trend following system will do. It’s got all of these trades out here that are very big winners, that go a long way in your favor. This is what I like about the Freight Train and trend-following in general, because these trades are the trades that change your life. The trades that multiply your account, and then just keep going and going and going, building your equity. This is my favorite trade outcome.


When you get on one of these where the trade goes so far in your favor, that’s when your account just grows effortlessly and you end up with a huge winning year as a result. So there are the charts you get in Amibroker backtest window. If you want to look at individual trades, you can look at them in this tab here, or you can just look at them in the backtest window. Other things if you want to look at the Amibroker formulas that you use to generate those signals, this backtest, then you can look here. The settings, the backtest settings that you’ve used are here as well, and the symbols that you’ve generated. So that’s a quick overview, well actually it’s not quick, is it? It’s a long overview of the Amibroker backtest report, and just how useful it is. So let me ask you this. Do you want to learn how to backtest properly? Because if you have not been using statistics like this to evaluate your trading strategies, then you are missing out.


You’re leaving profit on the table, and you’re risking your money with an untested result. So if this sounds like something that you want to learn more about, click the link below and register for my free web class, which is how to quickly gain the knowledge to build wealth and freedom systematically in the stock market without the market wiping you out. Click link below and register for the free web class, and learn how you can do this in your portfolio and make even more profit from the market. So my name is Adrian Reid, this is Enlightened Stock Trading. I hope it helps. Click link below, register for my free web class and learn more about how backtesting and trading systematically can change your world. It’s all for this video, I’ll see you in the next one.


Click the link below, and don’t forget to subscribe to this channel. If you found this useful, give it a thumbs up. Send me a comment and let me know, because I want to make sure I produce videos that really help you out. Again, my name’s Adrian Reid from Enlightened Stock Trading. Click the link below and register for my free web class so you can learn how to incorporate this sort of analysis into your trading life. I’ll see you in the next video. Bye for now.


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