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An algorithmic trading system is able to follow your rules and trade day and night without ever getting tired or bored. You probably expected your current trading style to work because it was advice from those people who call themselves financial experts. In automated trading you will see that the results for a different trading year might also be very different. Good automated trading is very boring because there is nothing interesting to see and nothing interesting to do.
If you find yourself hoping that a particular trade becomes profitable, you are probably still what I call a hope trader. If you want to compete with the financial industry in trading, you need to find out how to survive the next financial disaster. Maybe you could make more money doing something else.
It is possible to even trade small accounts in a way that makes it easy to avoid manipulations.
Stocks belong to companies and companies can declare insolvency. Currency pairs never declare insolvency. You need a STEP BY STEP system that will help you to really improve your ability to make good decisions for your trading system. What if you have no trading money now? No problem.
If you could build a trading system that actually works for you, would you be able to come up with $300 if you wanted to? It is possible to do a lot more in a shorter time if you have a course with templates. Basically you have something that is already working and you change just one thing to see what will happen. I think the really good traders with the really good results are able to stick to the rules. Would you agree?
You never know when the next financial crisis is going to hit the market. So how should you decide if you want to trade? If you invest a dollar and you make an average profit of 10 Cents, you can expect to make a profit in the long run. There is a website that is called FX Blue. This website makes it possible to get advanced statistics for automated trading systems.
I have published a lot of my systems there and you can see each and every trade and the end result. Would you rather like to trade a standard entry signal or would you like to modify something like the number of calculated candles? You may remember the fact that 2008 was the year of the financial crisis and most people have lost money because of that crisis. Trading is something that we do to make a profit, but what would be a good profit? Probably this is something different for every trader.
You might have other preferences than they have. What can we do to become better? Maybe you made a few mistakes and you learned how to avoid them in the future. And probably you did a few things right and learned how to repeat to good things. I don’t want to keep a certain position for a certain currency pair because currency pairs are not attached to any feelings. If you have to work or if you have a family you want to keep, you probably will not have the time to do even a thousand trades as a discretionary trader. Trading multiple positions on multiple charts could mean that you have a very good result for one currency pair and a bad result for another.
One of the common ideas is that you maybe want to change the direction of the trading entry after a loss. But why? I don’t know about any entry signal that would never produce false signals. I once defined that a successful trading system should be able to make a profit for at least ten trading years and at least ten different currency pairs.