DislikedI've been using the forum for about 18 months and have learned a ton from a lot of great people on there. More than enough for the a foundation of a successful automated trading system.Ignored
I wanted to send you a pm, but since you are a new member, I can't. I am very interested in how you managed to accomplish the automation you are speaking of.
I am trying to do the same, just started studying ACSIL in Sierra Chart, as that is my platform. The truth is I can manually find many exceptional no-drawdown entries, grateful to IF for all this free knowledge, however I invariably mismanage the trade and exit wayyyyy too early (for example, having a target of 20R and exiting at 2R. Most of the time the original target is eventually hit.)
This is based on fear of loss/impatience, which of course produces the losses we are fearful of (and leads to overtrading and blown accounts). I can see no other solution than technology helping me, but I can't see how this method can be completely automated.
I have ideas on how to define engulfs and FTRs, and use multiple TF charts, to help combine and compare the different scales. I have also developed some ideas, mostly based on liquidity gaps. Also, I'm hoping to use previous swing extremes to use their stops as targets.
However, I can't see how this could be completely automated. I am hoping it can greatly reduce the decisions I have to make, and so reduce the stress, that is just too much.
Complete automation would certainly be much less profitable than a skilled and calm manual trader (e.g. IF), but-for me at least- would be a godsend at this point in time. If I am at the monitor, I will mess the trade up, no doubt about it.
I would greatly appreciate a few pointers from you, either here or at alphagad79 at gmail.com, and maybe we can exchange ideas.
Thanks a lot and good trading!