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I make profits on something like 95% of my trades when I'm trading manually. I do so because I have a bunch of rules that I stick to... If a market is too 'hot'
by spentcoin 9y ago
I make profits on something like 95% of my trades when I'm trading manually. I do so because I have a bunch of rules that I stick to... If a market is too 'hot' I don't touch it. If the market turns right when I buy I set my profitable limit and let it sit until the market does eventually flip back around and the trade fills.
This ruleset that I stick to is essentially a basic algorithm. An algorithm that could be improved upon vastly by adding on-the-fly TA and sound, complex math (that my brain is too slow to calculate).
Those who believe an algo can't reliably make profits trading also believe that humans can't reliably make profits trading since every decision we make is a result of some form of algorithm.
- edf13 9y agoExactly... And one of the big benefits of algo trading is that it takes the emotion out of the decision. That's the main factor of human losses and mistakes. We always doubt ourselves. You turn your 95% trading rules into an algo you can be sure it won't take a quick out to cut it's loss when it looks like the market is going wrong... the machine will always trust itself.