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You don’t have to sit in front of your screen because you don’t need to look at the charts. How would you make a profit? Expected fortunetelling of experts is actually the big misconception that makes the financial industry so much money. I used back testing to find out what works and I repeated that again and again. Some people survive because they know how to deal with risk.
Actually, it is easy to get started, but it is not easy to hold your horses when you are excited. There is a set of instructions in the reference that explains how to build an objectoriented Tetris game inside of MetaTrader. Can you believe that? I mean, who would use a trading account and a trading software to play Tetris? If you are able to deal with strict rules without manipulation, you have good chances to become profitable in the long run.
I do know my own results in real trading. They are promising. But if you can expect the same results, that depends on your account type, leverage, trading costs and so on. Do you think that trading is exciting? If that is the case, you probably should stop trading right now.
Humans decide based on emotions because we are not so good at calculating to make a rational decision. Wouldn’t it be a good idea to find out how all these things influenced your results? With automated trading, you can do that within a few minutes. I think most people would 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. It is like in real life.
You wouldn’t expect all traffic lights to be green before you start your car, would you? Sometimes you need somebody to talk to. I still often read forum threads where there are answers, like either learn it or pay somebody to code it or use the forum search or read the documentation. That was not very helpful for me. With automated trading, it is possible to trade the same conditions again and again.
That is called the back test. I repeat the strategy test for the same year with at least ten different currency pairs. With a fast computer and a good processor, it will only take five to ten minutes for each strategy test. And I don’t need to do anything during the test period. I just sit there and watch.
The strategy tester has no other choice. It will trade exactly the way you told him. So if you have made a loss on the last day of the back testing period, your strategy tester doesn’t care if you believe that automated trading and the two laws of successful trading can give you a trading advantage and improve your trading results. When would be a good time for you to get started and become a happy trader? Are you risk averse?
I am very risk averse now, but that is something I needed to learn. I once decided to start with whatever I could get to produce a result and improve the results later. At some point in time, you want to change or add something. And I think the best option for every trader is to code his or her own system by themselves. With a good automated system, you don’t have sleepless nights because you know how your system will deal with power outages or connection problems.
The most important component is always the person in front of the screen. I cannot change that person.