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I think most people don’t know their risk setting, and some folks might not even know what a risk setting is. Your computer doesn’t feel fear or greed, and that is the real advantage with automated trading systems. I bet you would not expect your car dealer to sell you a car without breaks. But when you start out with trading automated or discretional, this is not uncommon. Would you like to know how you can really prove a market advantage?
Maybe you have some idea about what could work. For premium course members, I always recommend to trade at least three months on a demo account. And if this works three more months on a small cent account, you could decide to use a trailing stop for the position and automatically adjusted when you make a profit. If calculating multiple positions based on an algorithm is easy for your PC, why would you spend hours and hours waiting for the right entry? In my eyes, hope trading is a sign for a lack of confidence and practice.
Your broker can decide to change the rules in the middle of the game. I think that humans are not good traders because we are too emotional. The only things that you can change is when you trade, how much you trade and when you close your positions. Groundbreaking insight. Make your first errors with an account that is either a demo account or a cent account.
You still feel with Frodo, Rocky, Captain Kirk or the Star Wars rebellion guys? Yes, even you know those folks are only actors that pretend to be a movie character. The only way to avoid a margin call is to manage the risk as good as possible.
Most people have no idea. I always know that when they ask how much can I make? The right answer is: it depends. A system contains several parts that work together to make the system successful. Whatever trading style you prefer, I think that results are far more important than opinions.
Don’t you agree? What if I don’t have a trading strategy and I have no programming skills? In that case, it might take you a little longer, but it all depends on the person in front of the screen. Personally, I think that you have no way to find out if this is for you if you don’t try it. 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 are years when you want to do exactly that: checking out different risk values to find the one that gives you the optimal result. If you are good with several languages, you have probably invested a few hundred hours to learn the vocabulary. Hundreds of other explorers might have been better navigators, but we never heard their names because they have not been as lucky as Christopher Columbus.
An Oscillator is also able to generate entry signals – lots of them – that are automatically traded by the trading system. If you have lost money in the past, one of the reasons might be that you exactly did what the financial industry told you to do. But it is not your fault.
Think of a sailboat. What do you need to get to your destination harbor? Wind! For traders, the changing price is like that wind. If you flip a coin 10,000 times you can be pretty sure that you will see each coin side about 5000 times. A cent account makes trading much more scalable, because you can afford to trade a lot more positions on a lot more currency pairs.