View Single Post
  #16  
Old 19-07-2011, 18:15
Johnnykanoo's Avatar
Johnnykanoo Johnnykanoo is offline
Moderator
 
Join Date: Jul 2011
Location: Manchester, CT
Posts: 186
Default

Quote:
Are there any such EAs?

Scalping, and other short-term trading techniques, are not my cuppa tea. Any time frame less than 1 day is too short for me. I have found that taking the long term outlook brings, not just the most rewards, but for me, the only rewards.

Thanks
Thats cool, different strokes for different folks.

If I trade off the daily or the 4hour I can find success, but for my personality type it is a little harder. I'm more of an "over trader" I have spent years trading off the 4 hour and 1 hour. I used to trade mostly price action. I would use 1 or 2 indicators mostly for divergence.

The beauty of automated trading is you can still trade your normal method and have a little side line. If you are trading 12 pairs on the daily, how many signals will you get a month? 12, 15? If you have an 80% win rate than you would win 10 out of 12. If you risk 2% and make at least 1:1 you would earn 16% on your account. If your method is truly awesome and you earn more than you risk your % would be higher maybe even double. But the drawback would be you have to be near a computer, you have to recognize your setup, you would have to have discipline to wait for the a+ setups and also discipline to not "jump the gun" I could go on but you get what I'm saying.

For me I like to have confidence in a robot and let it constantly monitor the markets looking for the "perfect" opportunity. By automating this process I don't have to get up at 2:00am eastern USA time. I don't have to carry my laptop around everywhere. I just keep an eye on my robot and keep my risk in check and thats it. By incorporating different ea's I am able to diversify my portfolio and smooth out my equity curve in the long run.

The beauty of it is I can still manually trade if I want to, and believe me I do. My manual system that I like is a "break-away" from the very popular synergy method. But even that I like on the 1 hour tf.
Reply With Quote