I have been doing a lot of research lately. Trying to get my head into automated trading. There are times when I just want to get out of the market because it really takes a toll on your mental health. There are times when you feel you’re invincible and can never be wrong.
This rollercoaster emotion in forex trading is what I want to remove. So I’m doing a research on how to get into automated trading. I mean, the system that I’m using is good as it is. Now let’s see if we can teach a computer to trade for me and thus free me from being tied to the computer.
Why would I want to do automated trading?
Here are some pros that I can think of.
- Computers have no emotions
- Computers can respond quickly and react quickly to market movement. (also this may depend on your internet connection as well)
- Given enough technical skill in programming, you can teach a computer how to trade according to your own rules for trading.
- You can give and share the program to anyone to help them trade.
- Complete freedom from the market
- Needs technical knowledge in programming
- Might become unpredictable with unseen bugs and may lose you a lot of money in the process
As you can see, there are more pros than cons that I could think of. And the fact that you’ll be absolutely free from the screen time is a good enough tradeoff for me.
I’ve been reading some books on the subject and it has been interesting so far.