Hi guys, today I want to discuss how to choose a strategy that trades on autopilot for you. More precisely finding a system that trades like you would manually. Ask yourself "what kind of trader am I", or "what's my trading style?"
Many new traders look for a EA that is very popular in hopes to "get rich quick". This is the wrong approach to trading any instrument, especially Forex which carries more risk. We must think "outside the box" just a little bit. Let's not trade a strategy just because everyone is doing it.
So how do we find a strategy that is good for us?
Make a list of what is important to you with the following parameters in mind.
1. Profitability(Win%).
2. Market exposure appetite(how long in the market).
3. Risk Appetite.
4. Trading style(scalper,breakout. etc.).
Once you determine these factors, you can move forward in your search. For me, the most important factors are trade win% and frequency of trades(capturing numerous opportunities). I have found that my risk appetite has improved over the years. Most likely this is due to my understanding of how the market behaves.
You too will become more comfortable trading if you find a strategy that performs well to your style of trading. I believe this to be very important to be a successful trader.
THIS IS A STRATEGY THAT SUITS MY STYLE
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