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I like to use the settings that work for the last decade to trade my own system. Sometimes I need to spend several hours to find the right settings to even survive a decade. If you find yourself in front of your screen hoping that something will become a profit, that is not a good strategy.
I don’t believe in crystal balls, I believe in probabilities.
In my opinion, good automated trading is very boring. Have you ever noticed that the candles on the chart never reach the upper or lower end of that chart? Why is that?
Common sense doesn’t help anything. I had to find out that actually a lot of the stuff that is taught doesn’t work.
I think the biggest problem is the fact that the whole default setup for traders is configured in a way that will make humans lose their money as fast as possible. We have a premium course about how to build your system. Actually it is not only a particular system, but rather a framework where you can plug in any entry signal you like. Expert advisors will run in the strategy tester that comes with MetaTrader and I prefer to trade at least one year in such a back test.
Maybe the President of the United States can do what he wants. But average people have to deal with real conditions.
If we don’t see any huge draw downs, then that means that the human being in front of the screen would never be stressed. How would you make a profit? You just can check the results on your mobile phone and once in a while you restart your system because of updates.
Some back tests take a lot of time. Yes, you might watch one of these videos in two minutes or less. But actually coding such a system is also a lot of effort. Even with a well regulated broker in the European Union, you could not always expect to get all your money back in case of an insolvency.
To use an algorithmic trading system, you need so called indicators. They give us a signal with which we want to enter or exit.
Once you have a result, you can always change one thing and rerun the test.
A slow but steady growth is what I consider to be exciting because this is actually the very best way to make a profit without a huge risk. A crisis causes uncertainty and in uncertain times people may overreact. I once started with the good old try and error strategy, but that was not a good decision.
You may have heard that it is a good idea to let the profits run and keep the losses low. That is very easy to understand, but in reality it is very difficult to implement, especially when you see a profit shrink.
You might have heard that it is a good idea to let your profits run and keep your losses short. This is a very simple thing to understand, but in reality, it is very hard to do.
Often people start to manipulate their own system because they can’t stand the fear. When I see low drawdowns and moderate gains, I am often satisfied with the results as they are.