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When the volatility goes through the roof it is always good to know your account details.
It is hard to see losses, and it is also hard to watch your trading account making a small profit when you have made much bigger profits for another trading year. You can go to YouTube and search for standard standalone expert advisor and you will find a lot of my free videos for different entry signals. Source code included. Entry signals are exciting, so that is where everybody is looking.
Stability is one of the reasons why I prefer forex trading. In over half a decade, I have never seen a currency pair disappear.
You are probably very unhappy with losses or bad results. Actually, profits and losses are part of the game. There is no way to always make profits and avoid the losses.
I switch the broker often, and today I think that dependable execution and good service is far more important than spreads and bonuses. It is a good idea to pick a setting that produces enough momentum to make some profit while it is low enough to avoid huge drawdowns. If you mess up the recipe and the sequence, your cake might look like a spare tire and you need to know the expected result because you can’t use the same recipe to bake a tasty cake and cook a delicious soup. I would have emotional problems if my system would go down for 50% or more. But I wouldn’t manipulate it.
I would just decrease the risk setting. Testing two versions for ten years multiplied with ten currency pairs equals 200 back tests, each one for one trading year. Could you do that without automation? Probably not.
Currencies provide enough movement, but I have never seen any currency go down to zero. So basically I have everything I need.
After all, in the end it is real money and nobody likes to lose money.
How would you make a profit? Profits feel better than losses, and that might cause greed and fear. Then it gets emotionally dangerous.
Once you can read and write, it seems to be no problem. But try to switch to the Chinese or Japanese language and you will need a year or two until you get good results.
If you check your account daily, you will be able to see if it is better to increase or maybe even to decrease your default risk setting.
Most people want to go all in right away, but all this comes with a cost. Network outages? No problem for me, because I have designed my trading system in a way that network problems will not be harmful.
An algorithmic trading system will trade exactly according to your rules without any revenge trades. It will not get bored and it will not get tired.
A good indicator for the right setup is when you have no emotional problem to check your system only about once a week.