DislikedMorning Chicky Mark Douglas states in his book that the first stage for new traders to learn is the mechanical stage.I wish i had taken his advise two years ago when i first read the book.I am now at the mechanical stage,trading an edge that i have backtested over years of historic data.The most important thing about mechanical trading is it builds confidense in your method.When you hit a loosing streak of x amount of trades you have the confidense to know from your tests that show you will have x amount of winners to x amount of loosersIgnored
Look at human body, every task that a body has to repeatedly perform it has developed a system for that, whether it be respiratory system, blood circulation system or digestive system. Similarly an EA is good if one wants to repeately enter or exit since this is too laborious doing manually. But if the basic edge is flawed, the EA itself isn't going to help.
Although Jesse had a different method, during the times of no opportunity he also applied what Douglas later promoted . Jesse terms it "Winning on Balance".
The point is how good is your edge, rest is consistancy of execution with low risk per trade.
The Thief of Wall Street