DislikedI had 1 pip from winning, ending up as a loosing trade last week... and guess what, it almost happened twice!! (next day that is)...
I reckon it just depends on what king of trader you are...
I don't like to be babysitting the markets so I have to do it mechanically.
The good thing is by trading mechanically you can easily backtest your way of trading...
With discretionary trading; backtesting can be done but will never be the same as in real life...
The only big negative thing about mechanical system is that they fail, its just a matter...Ignored
I thought mechanical means some sort of EA, etc.
I dont use smas, etc. but before each session mark certain points on charts where to enter and where to exit. Then looking at the pa's strength execute those trades. At the end of a sesson (or day/week/before news, etc.) either liquidate shorter term trades or re-adjust their tps/sls.
Leaving an entry order has a chnce of pre-maturely getting hit. I am not sure even an EA can manage that.
I will check more what this EA thing actually is.
Thanks again.
The Thief of Wall Street