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So what does really matter? What really matters for you is your own emotional reaction to the facts. You probably can’t watch 22 forex charts for 24 hours for five days in a row. The only way to do a few thousand trades is to use automated trading.
When you drove for the first time in your driving school, everything about driving was a single thing that you needed to learn.
Would you pick something that works? You would not use a Ferrari for an off road trip, and you wouldn’t try to break a speed record with a Land Rover.
Do you now understand why I think that automated trading is the best thing since sliced bread?
If you just look through a small keyhole, you might be able to tell if there is somebody behind the door or if the lights are on. But not much more. Outages can lead to interruptions. In normal operation, such interruptions do not occur that often, but they have to be taken into account for the operational business.
It is easy to find out what would have happened. The only thing you need to do is to use an algo trading system. Within a split second your brain compares any door with other doors you have already opened in the past. This helps us in everyday life with many simple things and is also very useful.
The best thing about automated trading is that it is possible to do strategy tests. A few hundred automated trades are effortless. Once you have configured your system, you might be tempted to manipulate something in an attempt to make your money back. And usually this will make things worse. Hope will not help you if you don’t trust the system, and it will not help you if you manipulate it.
So doing a lot of tests before you trade real money is always a good idea.
Human traders are not cloned, but I can clone my best all go trading systems as often as I want and I can run them on multiple accounts.
Brokers will do what they can to make you trade as much as possible before your expected trading lifespan is over.
Doing a back test for your strategy will not even be difficult. It will be no effort and it will not cost me a dime to do it. It doesn’t matter that I know that a drawdown is unavoidable. I simply want to immediately get out, change the situation, manipulate the system. It feels bad.
You can download a demo version and find out if this works for you. It is not that hard to do that. To make an educated decision, you need to know something. You need to know the probability.
If you have tested something, make sure that it is also within the boundaries of your account. Some brokers provide a higher leverage, a lower margin requirement and better conditions than other ones.
Some brokers only offer the major currency pairs. Others have several dozen exotic forex pairs.