Don't get me started on Algo's
The fact is 99% of Algo traders spend on average 500 hours to design, back-test, forward test and then maintain just one single Algorithm that makes them almost zero money over a 12 month period. They then have to spend at least an hour an day ensuring its running correctly and the computer system is still connected to the servers. So over a year - that's about 800 hours work for a single Algorithm that makes small profits.
I used to run a portfolio of 7 Algorithm's so that's about 5600 hours a work in a year.
In the end, I worked about 18 hour days running & developing more Algorithms and it
ALMOST BLOODY WELL ALMOST DESTROYED MY MARRIAGE AND LIFESTYLE
IF I FLIPPED BURGERS AT A TAKE AWAY BAR - I WOULD OF BEEN HAPPER AND RICHER
That is my experience and its similar to 7 of my trading buddies who WERE Algorithm traders.
Its best to learn how to have patience and Wait for some good Manual setups and push the trade button manually.
Greed & Fear are real - they hold back 99% of traders because traders hold when they should exit and exit when they should hold.
My trading journey proved to be one thing. Learn how to hold onto winning trades Manually and let that bastard run is the best road to profitability.
Now I can make more money in 2 Weeks Scalping Future's than I ever made with Stupid Dump Algorithm's in a year.
OR I can just take a long term trade on the Stock Market and forget about it for years.
I have one Stock Market trade running and it's been running for 3 years - and I'm in profit as I speak $308,850 and I'll let that bastard run longer.
NO ALGO REQUIRED
The fact is 99% of Algo traders spend on average 500 hours to design, back-test, forward test and then maintain just one single Algorithm that makes them almost zero money over a 12 month period. They then have to spend at least an hour an day ensuring its running correctly and the computer system is still connected to the servers. So over a year - that's about 800 hours work for a single Algorithm that makes small profits.
I used to run a portfolio of 7 Algorithm's so that's about 5600 hours a work in a year.
In the end, I worked about 18 hour days running & developing more Algorithms and it
ALMOST BLOODY WELL ALMOST DESTROYED MY MARRIAGE AND LIFESTYLE
IF I FLIPPED BURGERS AT A TAKE AWAY BAR - I WOULD OF BEEN HAPPER AND RICHER
That is my experience and its similar to 7 of my trading buddies who WERE Algorithm traders.
Its best to learn how to have patience and Wait for some good Manual setups and push the trade button manually.
Greed & Fear are real - they hold back 99% of traders because traders hold when they should exit and exit when they should hold.
My trading journey proved to be one thing. Learn how to hold onto winning trades Manually and let that bastard run is the best road to profitability.
Now I can make more money in 2 Weeks Scalping Future's than I ever made with Stupid Dump Algorithm's in a year.
OR I can just take a long term trade on the Stock Market and forget about it for years.
I have one Stock Market trade running and it's been running for 3 years - and I'm in profit as I speak $308,850 and I'll let that bastard run longer.
NO ALGO REQUIRED
Trading thin liquidity at the boundary of the charts
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