there are 3 levels of autotrade. 1. entry only... the computer will trigger the entry order... then a human takes over to manage the exit. 2. pattern recognition entry... profit target exit. (i.e. a dumb exit. e.g. take 2 pts profit. no analysis involved) 3. full autotrade... with intelligent entry, and intelligent exit.
You're not a programmer I guess Or even a person with some basic understanding for AT! Think a little before you talk
Interesting thread. I have spent the last 2.5 years automating "me". The need was spawned from the lack of sleep trading spot fx and the rediculous ass kicking I got from not being diversified the night of the London bombing in '05. I started by identifying what I look at and the order of importance. From there I implemented what was readily available (indicators, fundamentals, etc) and then created additional algorithms to generate more available data based on what I deemed important. The most important part was the money management parameters I have built in. These are all in a neural network and I apply it to 12 fx pairs simultaneously. Not every pair is profitable all of the time (just like me) and there will be hedging among individual currencies (not like me, as evidenced in '05). Moral of the story, the market rewards many styles from pricing arb to Buffet and every label inbetween. Do what you do, accept and contain your losses while maximizing your profits and as long as your logic is solid the market will continue to reward you. The enhanced discipline from automation is truly priceless.