I hope you know that there’s a considerable difference between the trading results and the hypothetical performance.
I pair it up with other indicators and technical analysis like the support and resistance areas and candlestick chart patterns. This gives me an idea about the potential market reversals.
It’s quite simple and common @Richard. Use the crossing of the graph and signal lines as an entry and exit trigger.
Understanding that forex is a lot of work with market analysis and risk management strategies and techniques, the fully automated trading system or EA along with saving the effort, blinds a trader of important knowledge. It is always better to learn everything manual and then resort to algo trading.
The burden of stop loss is unavoidable, but with EA, at least you won’t have to worry about the losses since it automatically puts the stop-loss on your trades.
Won’t deny the hesitation and delay of loss cuts are the reasons for my losses so far. I believe it’s time I opt for an EA too.
Have you traded without a strategy and without risk control? Of course, such trading will not lead to anything good. After all, when trades are unfounded and do not obey any rules and conditions of the trading strategy, then this is just a game of roulette. Also, without risk control in trading, you can drain your entire deposit even on a small pullback, after which the price will again go along with the trend.