I really did a lot of backtesting, but in my opinion it is worth each and every minute. I actually do a lot of strategy tests and I have done it for over half a decade now. Would you think that my results are now better or worse? You know what is the best thing about automated trading? Once you have automated something, it is easy to make a few changes and do a strategy test.

You need money for almost everything and some things are more important than trading. So one needs to find a way to do both.

Imagine you are driving a car on the highway. You might want to drive at 100 km/hour. But if the car in front of you is too slow, you have to adjust your speed.

Each trader has to decide for himself. I put a lot of time and effort into developing an automated system that best meets my needs.

Most people can’t do what it takes. And that is exactly the reason why over 80% of all new traders lose their money.

Currency pairs never declare bankruptcy. They are easy to understand and offer all the movement and liquidity I need.

It took me about 18 months to lose about 20 pounds and I knew that the process was working. But I didn’t really enjoy the process because I had to eat less and go on the treadmill.

There are situations where everybody is trying to find out what to do next. Is it better to get out and close all positions? The financial industry loves to make it complicated, but this is about simple automated trading. Backtesting is very useful to find out how a system would have performed in other trading years. And I do it a lot.

You could also finetune the default settings, but most often I am satisfied with the results. If something is a true advantage, you should be able to prove it by doing the opposite. I once heard from a guy called Earl Shauff that the fundamental laws of nature are valid for everyone and that you can’t avoid gravity, no matter what you do.

Most gurus told me that you needed to buy today quick before the last two spots were gone and you would be doomed to cry forever.

Fear is the enemy of consistency. What if I lose it all? This is so much money. Shouldn’t I play it save?

I had big plans when I started out and I wanted to become the fastest trading millionaire in the world.

You could expect other results when you change the trading settings, like the leverage, or when you choose a different type, for example, just based on open prices. When things get bad, that is the time when you need to decide if you trust the system, because the drawdown will always look like an unavoidable loss. When it runs like on rails, you can also increase the risk setting. In an automated back test we go with a fixed value, but in real life, you would probably look at your account each and every day.