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How do traders feel when they lose money? I guess that they feel bad. But actually it will make you feel twice as bad losing money as a profit will make you feel good.
You could learn data types for the next few months. Most people are long gone before they see their first automated trade. If you buy something for a profit, the price must go up before you sell it. You can’t change the weather and you can’t change the markets. So we need to trade whatever the markets offer.
Sometimes your setting works out very well, but unfortunately nobody is able to predict the future.
Watching one of my systems grow on a consistent basis is what I like most.
Hoping that something will work out is not a good strategy in my opinion. So would you prefer to do something else instead? When I started out, I had a full time job. I had 3 hours commute each day. I had a family with two small children.
I need to admit that I rarely look at charts and often I miss to check my systems. What if one of our systems stops to work? Actually, that is part of the system design.
Why should you try to solve something in your head that the computer can calculate much better?
The only thing that I consider to be a really bad idea is to jump and try to turn around in the middle of the gap. But actually this is what most people do.
Trading automation is only the last missing puzzle piece you need if you want the valuable answer to the question: what if? With algorithmic trading, you can find out what the right settings would have been in the past and you can make educated and probable guesses for the future.
Why do I like to trade? First of all, this is a topic that I find interesting. I just like to do it.
It is possible to trade very small accounts with currencies. Most brokers support currency trading and you don’t have to watch any financial news for something. So I would recommend to get started with that.
What do you expect from your broker? When I started out, I thought a broker would be like a dependable bank.
Ulysses begged for relief when he heard the sound of the sirens. But he was smart enough to protect himself before the temptation.
Most people learned that you should keep your losses short and let your profits run. Have you heard that sentence before? Yes, it sounds like a reasonable concept, I agree. But when you really measure the stop loss cost, you will find something that is really interesting.
We all need to eat, sleep and go to work. We have a thousand things to do every day.
Believe me, trading is set up in a way that is against every common sense.