Manual Trading Versus EAs Trading, Which Do You Prefer?

ECMartin posted:
    

winsor posted:
    

ECMartin posted:
    

winsor posted:
3) don't compound your trading lot size

Why would someone not compound it? Yeah, your risk does decrease if you don't compound, but so does your % profit. IMHO if you trust your EA enough, compounding shouldn't be an issue (unless it's some crazy martingale/no stoploss strategy)

Have you heard of a forex trader who compounded his trading account and became an multimillionaire in a few years? If you do, let me know

Well, first off, compounding is proven to be a very good decision for me so far. Since April 2010, I went from $1,000 to $2,750 using compounding, while without compounding, I would be at about $1700. That's $1750 profit with compounding against $700 profit without compounding (yes, live account).

I advise everyone who doesn't believe it is possible to make big profits from anything (not just the Forex market) to read some books by Donald Trump. Your thinking will probably change and your bank account will grow accordingly, whatever you're doing, whether it's Forex trading or anything else ;-)

In the end, one of my favorite mottos is 'If you think $1,000,000 is a lot of money, how the hell do you want to become a millionaire?' :-)

I have given up on trading a long time ago and now think of myself as an investor. It is less stressful and I am becoming more successful because it it. Regarding your $2,750 account, I am happy for you. Let's see if you are able to keep up the performance after one year. I have a friend who brought his account from $20K to $250K in one year and a student who brought his account from $2K to $30K after one month. They both ended their account in similar faith due to compounding.

Regarding Donald Trump, he does not write his own book. Ghost writers wrote all of his books and he does not even read his own books. I was so upset when I found out about it.

winsor posted:
    

ECMartin posted:
    

winsor posted:
    

ECMartin posted:
    

winsor posted:
3) don't compound your trading lot size

Why would someone not compound it? Yeah, your risk does decrease if you don't compound, but so does your % profit. IMHO if you trust your EA enough, compounding shouldn't be an issue (unless it's some crazy martingale/no stoploss strategy)

Have you heard of a forex trader who compounded his trading account and became an multimillionaire in a few years? If you do, let me know

Well, first off, compounding is proven to be a very good decision for me so far. Since April 2010, I went from $1,000 to $2,750 using compounding, while without compounding, I would be at about $1700. That's $1750 profit with compounding against $700 profit without compounding (yes, live account).

I advise everyone who doesn't believe it is possible to make big profits from anything (not just the Forex market) to read some books by Donald Trump. Your thinking will probably change and your bank account will grow accordingly, whatever you're doing, whether it's Forex trading or anything else ;-)

In the end, one of my favorite mottos is 'If you think $1,000,000 is a lot of money, how the hell do you want to become a millionaire?' :-)

I have given up on trading a long time ago and now think of myself as an investor. It is less stressful and I am becoming more successful because it it. Regarding your $2,750 account, I am happy for you. Let's see if you are able to keep up the performance after one year. I have a friend who brought his account from $20K to $250K in one year and a student who brought his account from $2K to $30K after one month. They both ended their account in similar faith due to compounding.

Regarding Donald Trump, he does not write his own book. Ghost writers wrote all of his books and he does not even read his own books. I was so upset when I found out about it.

Plus he is an absolute a-hole. :) Trump that is. :)

I have made a lot of money quickly and I have lost a lot quickly, not just in forex, but other fields. I believe it really is more of a measure of attracting that. I agree about compounding, but I also believe without it, great fortune's would never be created. Winsor sounds like he is compounding through investors or others who take the risk as well, just not directly through his account.

No problem with that as that is how most people do it these days. Very few people have the cajone's to make a Million and be willing to lose it all as well. I see our culture getting more risk averse as we progress which is interesting and absolutely nothing wrong with that just a different way to slice the pie.

For most, compounding is a lost cause in my opinion unless you can truly accept what wealth you have created and know when to 'fold them' as someone pointed out. Still studying that! :)

As a novice trader, I personally prefer mixed trading. I used EA to make small lot trade and if I have positive gain on it i double (or maybe triple) that position so i got multiple profit, but as we all know that many EA not always profitable (like manual traders, right?) So I can choose when I have to double that position or not based on indicators and news.

Using EA, I can get some profit, but sometimes not optimal. So with the combination of EA and manual trading, I can make optimal profit just the way I want to be. I'm saying this because I know how EA procedure that I'm using now will make consistent profit and my account will be sustainable for long run.

I hoped that sometimes I could trade completely manual, but I need to learn A LOT to find my own manual trading style. EA is my mentor, but I don't have to follow it when I think it's not safe enough for me.

winsor posted:
Regarding your $2,750 account, I am happy for you. Let's see if you are able to keep up the performance after one year. I have a friend who brought his account from $20K to $250K in one year and a student who brought his account from $2K to $30K after one month. They both ended their account in similar faith due to compounding.

I understand. Not to sound arrogant, but I have backtests with tick-by-tick data for almost 4 years (tick-by-tick data is unfortunately not available for 10 years) with maximum drawdown of about 25% (using 5% risk per trade; it can be decreased to 2% while still making very nice yearly growth), which match the live account (actually the live account performs slightly better than the backtest, but the same trades were taken, just with +/- 0.5 pips different prices) + there's a built-in emergency stop just in case it started to take a nosedive. That way, I feel very comfortable using compounding, as I'm not trying to make a living here, I'm getting wealthy 😀 (I'm being half-serious here ;-) ).

About the Donald Trump's books thing, that sucks, wasn't aware of that and they were my favorites... do you have any proof or at least more information please? They are still damn good though, whoever has written them :-)

I think you must enough know about the ea for trading

I prefer Manual
EA high risk...

You guys must understand you're in the same pool as Goldman Sachs. You're going up against their algorithms which is doing hundreds of millions if not billions per year.

Anyone who is not trading automated is at a very serious disadvantage.

EA's are risky, because it's a short cut and most people who write them don't understand what they're doing. Even worse those who want to use them have even less of an understanding of what they're doing. It's the visually impaired leading the blind.

By doing your own EA's you will learn how the market works, but it takes for ever. Yet it's a critical step in building a long term secure trading future.

When you've reached the appropriate level, it will become very clear that not only is automated trading essential, it's also easy to do, because you'd have all the skills and knowledge required to do it.

Fx is not a quick buck, no matter what your approach.

Elkart posted:
    You guys must understand you're in the same pool as Goldman Sachs. You're going up against their algorithms which is doing hundreds of millions if not billions per year.

Anyone who is not trading automated is at a very serious disadvantage.

EA's are risky, because it's a short cut and most people who write them don't understand what they're doing. Even worse those who want to use them have even less of an understanding of what they're doing. It's the visually impaired leading the blind.

By doing your own EA's you will learn how the market works, but it takes for ever. Yet it's a critical step in building a long term secure trading future.

When you've reached the appropriate level, it will become very clear that not only is automated trading essential, it's also easy to do, because you'd have all the skills and knowledge required to do it.

Fx is not a quick buck, no matter what your approach.

Well said, agreed 100%

ECMartin posted:
    
Well said, agreed 100%

deeds, not words

exa96995 posted:
    

ECMartin posted:
    
Well said, agreed 100%

deeds, not words

What's your point? 😲

I do act to my words.

Elkart posted:

EA's are risky, because it's a short cut and most people who write them don't understand what they're doing. Even worse those who want to use them have even less of an understanding of what they're doing. It's the visually impaired leading the blind.

Fx is not a quick buck, no matter what your approach.

Elkart,

I totally agree with you. There are too many programmers trying to create expert advisors without understanding the fundamental rules of trading. I have started my training and trading as a manual trader for 3 years and gradually went full time automated.

Agree, Fx is not a quick buck and for every single successful trader who made it big compounding, there are thousands of other traders who loss it due to compounding.

ECMartin posted:
    

exa96995 posted:
    

ECMartin posted:
    
Well said, agreed 100%

deeds, not words

What's your point? 😲

I do act to my words.

the point is that the results of trading speak for itself
words are nothing

who cares whether it auto or manual?
dont judge others - there is always somebody who loses and somebody who dont, manualy and automated

exa96995 posted:
    

ECMartin posted:
    

exa96995 posted:
    

ECMartin posted:
    
Well said, agreed 100%

deeds, not words

What's your point? 😲

I do act to my words.

the point is that the results of trading speak for itself
words are nothing

who cares whether it auto or manual?

You are ridiculous 😄

I told my personal opinion, I told what my personal experiences are, but I chose to keep my system private for now and there's nothing wrong with it, since I'm not selling it (yet). You don't have to take my word, but I don't really care whether you believe me or not 😄