Hi all,
After many years of trading Forex and losing, I have made the move to Algo trading which has really helped me lock in my rules.
Trade View Tech Automation - AUDUSD 1 Minute charts
The main problem I have is being Greedy, I want to make $100k a day and end up blowing up my accounts over and over again.
By making the move to Algo trading its enabled me to follow strict rules by turning the algo "on/off" instead of manually Buying/Selling.
Example of some of the rules that have really helped me:
Entry:
No indicators are used.
If Zero trades are open, open trades.
If that trade is losing by X points, add another trade.
Take Profit:
The below take profit allows the strategy to group positions into one. "Aggregated positioning"
Once the group is above $10 they will all close together for an average of $10.
Take Profit - When the total of all positions is greater than $10 - Close All Positions
Stop Trading:
The below will stop the Algo from trading once it reaches above $100 for the day. This can help reduce over trading once targets are reached.
Stop Trading For Today - After $100 profit
I am looking for ideas and rules in which I could create to better manage risk and trading overall, does anyone have some suggestions that I might not have thought of?
What rules in your trading plan do break, and when you break them you lose money.?
I'd really like to find some friends who would like to progress with these ideas or even help me with coding new ideas.
Thanks everyone
After many years of trading Forex and losing, I have made the move to Algo trading which has really helped me lock in my rules.
Trade View Tech Automation - AUDUSD 1 Minute charts
The main problem I have is being Greedy, I want to make $100k a day and end up blowing up my accounts over and over again.
By making the move to Algo trading its enabled me to follow strict rules by turning the algo "on/off" instead of manually Buying/Selling.
Example of some of the rules that have really helped me:
Entry:
No indicators are used.
If Zero trades are open, open trades.
If that trade is losing by X points, add another trade.
Take Profit:
The below take profit allows the strategy to group positions into one. "Aggregated positioning"
Once the group is above $10 they will all close together for an average of $10.
Take Profit - When the total of all positions is greater than $10 - Close All Positions
Stop Trading:
The below will stop the Algo from trading once it reaches above $100 for the day. This can help reduce over trading once targets are reached.
Stop Trading For Today - After $100 profit
I am looking for ideas and rules in which I could create to better manage risk and trading overall, does anyone have some suggestions that I might not have thought of?
What rules in your trading plan do break, and when you break them you lose money.?
I'd really like to find some friends who would like to progress with these ideas or even help me with coding new ideas.
Thanks everyone