Should i try automated trading?

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I have been trading manually and so far lost close to £1000.

I am having trouble sticking to the strategy due to fear and greed.

I am thinking to try out EAs and see if that works for me.

What do you think? What do you look for in an EA?

 
Nancy Manetti:
I have been trading manually and so far lost close to £1000.

I am having trouble sticking to the strategy due to fear and greed.

I am thinking to try out EAs and see if that works for me.

What do you think? What do you look for in an EA?

You can try it to exit your trades then you don't have to worry about the psychological part.

 

Hi Nancy,

    Do you want to be a trader or an investor?  There are some signal services on this website that you could consider or possibly through your broker.

    If you want to be a trader do you know what kind of trader you want to be?  Have to traded a system on a demo account or just jumped in the deep end to teach yourself swimming?

    You will find most EAs don't actually work and just turning on your computer and checking your bank balance won't actually work.

     Greed and fear is something every trader battles, but if you have lost $1000 then if you stop and concentrate on small systematic trades then it is possible to make money regularly.  Most people don't have the discipline, trade with stops too close, rashly take a trade and hope for the best, and then just transfer more money from their credit card to their trading account.

     Sorry for all the questions but there are a lot of new traders on this site that basically ask the same questions and they seem to burn out very quickly by jumping into trades too quickly without a trading plan.  If you see a trader online that is trading a way you understand then send a Private Message to them with questions.  Most trades like to talk about trading but there is no cookie cutter that works for everyone.

     One place not to start: spending your trading money for EAs in the dark on the basis of promises from a programmer.

     Good luck.

 

I used to trade manually, no matter how I tried emotions always took over.

 I wrote a ea, and life has been great ever since, If I feel the need to watch the screen it's great to see the EA looking after me.

Automation is good for profits, mind and soul. 

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