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In trading, you don’t have strict rules how to handle the ball. Nobody will tell you if you should use a bat, a tennis racket, or if you are supposed to only use your feet to move the ball.
Yes, sometimes I check my status once or twice a day. But I do not always live in doubt and fear anymore. It is a relief to have your system do that for you.
I think that the best way to improve results is to take yourself out of the equation.
Trading is always speculative. That means you have to think beforehand what you want to do when certain situations occur.
How many of your losses are caused by your own stop loss? For the most people, it might be over 80%.
If you can adjust your trading system to fit your needs, you will increase your trust in the system and that helps to avoid manipulations when it gets tough.
Do you believe automated trading could work?
When I run the back test for this expert advisor, I can define some settings in the strategy tester. There are differences, so if you use something else, you will get different results. But the entry signal is always looking at past events.
Computers are unlike humans. Your PC is totally fine with bits and bytes, and you can feed it for hours with that kind of data.
Everybody is looking for the perfect trade entry and the most predictable signal.
In my opinion, you would need to take an insane risk with a lot of real money to make 500% in one month. I don’t say that it is impossible, but it is very unlikely to do that. Based on results you can now do some modifications. For example, you could now turn the logic around and decrease the number of positions in the same situation.
Changing the setting of an entry might produce completely different results because each trade influences the next one. A good recipe is a good way to get the result you want. A good recipe is easy to follow, and a good recipe has all the parts you need for a good outcome.
You will never know if what you see with your own eyes is something that could be a misrepresentation on your chart.
Life should be easy, but often it is not. For example, when you have no time to do what you want. A system is something that is able to produce a predictable result without the need to predict the outcome of a bunch of transactions.
Sometimes I ask myself, why do I do all this?
I know there are many shiny, happy people out there waving with money bundles in their hands. Don’t believe them!
Think of a sailboat. What do you need to get to your destination harbor? Wind. For traders, the changing price is like that wind.
What is the difference between a multi currency system and a system that can only trade one currency pair?
People always want to improve things, but from time to time, a small profit is all you can expect. But with a multi currency system, you can still make bigger profits with the other currency pair if you know how to set your trading risk correctly. Any ten year old computer can run an automated trading system. That is why I consider automated trading to be the best invention since sliced bread.