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You can pick any entry signal you like. But you need to have strict rules because an algorithmic trading system is not able to trade undefined signals.
Your broker can shut down your whole account whenever he wants. I bet a lot of people didn’t know that algotrade gets really interesting when you trade the same system on different currency pairs at the same time.
Once I had a result, I changed one thing and tried to improve that lousy result. If I could do that for one currency pair, I would try to also do it for other currency pairs and other trading years. You might not see swap fees. To make them visible, you need to right click into one of the columns in the trading terminal and enable swap fees.
Now let us do a little experiment. I would bet that most traders who are not satisfied with their trading results create over 80% of their losses with their own stop loss settings. Are you one of them? Why are most of your losses caused by the stop settings you use? I think most of the time the answer is that the stop loss is something that you just picked.
You might find that other entries may be better for you. You might also have some other trading strategy that you have already used to make profits.
A trading system that is automated has absolutely no problems with impatience. It will wait until your position reaches your take profit mark.
I think most people will be able to come up with a good trading recipe if they decided to invest the time, money and effort it takes to achieve the desired result.
Buying stuff when it is not demanded works well for onetime purchases. But if we need stuff like groceries on a consistent basis, the advantage will be replaced by an average price.
Your algorithmic trading system simply follows the trading rules. It will not do something stupid because it doesn’t care.
I always encourage the premium course members to start with a small risk. It is always no problem to increase it later.
For a successful trading system, you need to have several components that work together.
Even when I did the opposite of what I wanted to do, it also was a loss most of the time. So I started to learn automated trading.
I think the main problem is that most traders only see one reality and that is their own experience.
I think the really good traders with the really good results are able to stick to the rules. Would you agree?
Would you think that it is possible to cause a car crash? If you try to park your car with 100 mph, you can bet that this is the case.
Every trader has his preferences and things he doesn’t like. Often these things are a result of past experiences.
One of the first things I do after my clients buy a course is to send them an email where I ask about their greatest problems when it comes to trading. Guess what they answer.
Sometimes things do not work out as planned. For example, you might see that the expert advisor does not work very good.