Robot Trading
August 1, 2006 by Trader Rich
I'm alive and well, taking some time to feel out my next course of action. During this time, I'm trying to fill my head with as much knowledge as I can but as I approach my sophomore year of trading, I'm stumbling upon the same information. I remember being brand new in the first few weeks or months after I discovered Forex and finding the information overwhelming. There were just so many technical indicators, systems, books, and opinions on trading that I felt like I would never get a handle on it. Things have settled down since then and I think that I'm right in the middle of the most important lessons to learn. These lessons are the less literal ones and are only obtained from diving in to get that all important experience.
Currently I'm performing my trades by discretion and I'm finding that I'm just all over the map. I'll open my charts and start trying to analyze but I never really come to any conclusion on what I should do. I feel frozen when price movement does come and by the time I realize it, the price has shot up or down and I'm sitting there with my finger still on the trigger. For this reason, I'm going to try to develop a more systematic approach. This doesn't mean that I won't remain discretionary but I need to develop a more methodical approach to the market. I'm always experimenting with trading systems and there is one that I've been working on for a while that has some potential. Therefore I am going to start using it more with a combination of discretion. I think doing so will help me develop more discipline and will also help me develop price action experience. Since my system has certain criteria that must be met to enter a trade, if it isn't met, I will see more clearly why it wasn't.
In addition, I must start putting more precedence on post-analyzing my trades whether they were losing or winning. I have done this on and off during the past year but I must be more consistent. I'll find myself so busy after a winning or a losing trade that I'll just forget about it. Usually it's a losing trade so maybe I'm just so concerned with turning that losing feeling into a winning feeling that the past just doesn't seem important anymore. This couldn't be further from the truth so I'm going to try to force myself to evaluate every trade that I've made before I enter into any new trade. How am I ever going to learn from my mistakes if I'm always rushing to the next thing?
Popularity: 4%



































I was like you before. Trying to get sophisticated until I realize it’s only OPEN HIGH LOW CLOSE and from that people came up with loads of crazy stuff just to make the beginner loose money.
Trading is very simple and very exciting if you really understand the basic.. BUY LOW SELL HIGH but no body knows which one is high or which one os low hahahaha
In order to pin point high and low the so call master trader or whizz man or kids created a mathematical formula. Geezzz do we need all those formula!
Simple chart formtaion works! PATIENCE IS VIRTUE! Automated trading sucks. Just discipline ourself to look at trade 1 - 2 hours per day ENOUGH to generate PIPS to have comfort living. hehehe