February 15, 2023 | Collective2 | HFR Algo 1 (FX futures CME), HFR Algo 2 (Forex)
Attention! This is not my first profile here. I recently had a big drawdown selling USD/JPY due to high leverage, the idea is correct to sell 145-147-150 take profit 135-133-131 but very poor execution resulted in a loss. I'm the only one to blame for this.
I'm back. Took a break from trading. During this time, I have optimized my system, leaving only the best algorithms there, and optimizing risk management. I believe in my system.
Attention! I recommend that subscribers set the maximum risk parameters per month to no more than 10-15-20% in the settings. Be sure to do it.
Useful tips when copying HFR Algo 1 (FX futures CME), HFR Algo 2 (Forex):
1) Do not idealize the results of my trading. Stably every month for a long period of time, at least for a period of several years, you are unlikely to receive a plus every month, this is not a bank deposit. There will be periods of drawdowns, since everything in this world is cyclical and the results in trading are no exception, after growth there is always a decline or there are stagnations in growth for some time and this should be taken as normal.
2) Diversify your savings - don't put all your eggs in one basket.
3) Constantly and inseparably monitor the results, it is advisable to do this several times a week, so you will be calmer.
4) Understand that profitability is not linear, this is not a bank deposit, that income received in the past cannot serve as a guarantee of receiving these incomes in the future.
5) Once again, do not worry and do not share your feelings with me about where the market will go or that the wrong position is currently open in your opinion (I do not provide a psychological session service), since there is a stop loss for each transaction , there is a risk limit. Excessive anxiety only ruins the result in the end.
6) There may be periods, several trading sessions, several trading weeks, when there is no trading activity, this is normal. Constant presence in the market and constant trading does not affect the profit for the better, does not make it bigger, sometimes just a few trading sessions make the result for a whole month. You need to be able to wait, work out only clear signals, and then the result will be much better.
7) There is a possibility that you may lose some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek the advice of an independent financial advisor if you have any doubts.
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