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Start small and survive those wicked first six months. You can always grow your account size later.
Some brokers will start to close your positions when your equity is below 50%. You need to take that into consideration.
If you want to trade something like an SMA, you need to decide how it is calculated.
There is a set of instructions in the reference that explains how to build an object oriented Tetris game inside of MetaTrader. Can you believe that? I mean, who would use a trading account and a trading software to play Tetris? I might sell something because I want to take my profit. I might sell something because I made a mistake.
You never know.
You can imagine this as if you were trying to multiply four digit numbers in your head. You would use a calculator for that too, right?
Your car is an automated system, but the wheels would be worth nothing without a steering wheel to adjust the direction. Today, with GPS and everything, Christopher Columbus would probably be arrested by the coast guards because of his bad navigation skills.
There is a simple way to prove or disprove if something is a valid improvement. If you want to drive a car, you need to take driver lessons. You need to learn the traffic rules before you start to drive on the streets. For trading, they will let you do whatever you want without any prior education. There is actually a way to gain real trading experience with thousands of trades, but in a fraction of the time you would need otherwise.
Do you think you could build a better hamburger than MacDonald’s? Probably you could, but still MacDonald’s is the company that will sell thousands and thousands of their hamburgers each and every day. Programming an algorithmic trading System? No problem. Today, I have a much bigger problem. This is a problem that I can’t fix and it is the need to use a broker.
I do not trade any currency pairs with a spread that is above average. What that means will depend on your broker and your trading account.
Do you see this massive amount of trading data? A computer can handle it much better than you. This is exactly the advantage of automated algorithmic trading systems.
So why do I like trading? Well, this is a topic I find interesting. I just like doing it.
Why do you think are there so many ways to enter a trade? Maybe because different people prefer different entry signals.
I wouldn’t say that it isn’t possible to use a higher risk. As always, the right risk setting depends on the account, the trading capital and the person in front of the screen.
Some people think that algorithmic trading systems should always work at any time with any currency pair and any entry setting. But this is not true! Today, I know that trading with a feeling is like driving on a highway blindfold, trying to find out the right direction by listening to the car radio.