We are reassessing some things. The Trendy system is an EA that sends signals but you have to manually trade them. Therefore psychology and market dynamics come into play and a traders psychology does as well. I have been dealing with health issues lately and I think that has effected my trading.
We aren't giving up, we are reconsidering how to do this...possibly with a new trader managing the trades as I need to get physically healthy first.
Lastly, I am frustrated by FXCM's real money connection for MT4. It is extremely frustrating to get 'Off Quotes' and cannot fill orders on a regular basis with them. Never happened on their demo MT4 accounts. That's one reason why I have stayed away trading real money on the MT4 platform in the past, but FXCM reassured me that their 'new' version of MT4 that they just released won't have those connectivity issues. Yeah right, it has happened at least 10 times already one of which was while I was trying to exit a trade for a profit, that ended up turning into a loser because I couldn't exit. Market conditions were not overly volatile either.
Anyway, stay posted, we haven't given up, we never do. Been doing this since 2004 ;) Sometimes more successful than others but always learning and improving.
One other thing that I wasn't realizing was the amount of pressure having others copy our trades is. Sometimes I am not as bold on entering some signals as I used to be because I only want to take the best signals...however many of these signals I have second guessed have been the big winners. All of this because I am new to having people auto-copy trades...essentially I am trading for them..lots of pressure because I hate losing people money. Currently we have 80 subscribers of which the majority have auto-copy on and many of which trade real money accounts with our signals.
One idea that has been thrown out by my brother is that we keep doing signals but turn the site into a community site where traders can share ideas and where signals can still be sent.
Possibly doing away with the 'auto-copy' and instead licensing the EA itself. Then traders can trade it themselves and then we can put up a forum and chat room 'trade room' where we can discuss strategies that involve the signals, or any other systems people may be interested in. But essentially you would just be a member of a trading site, rather than a customers that I auto-copies signal for...this is the best idea thus far.
In my experience, no fully automated system can work long-term, as market dynamics are always changing and the human brain is the ultimate processor. So yes we can fully-automate the system, but we haven't found a backtest that is long-term profitable using it on full auto.
i was going to say the same thing- your risk is too great 4% per trade - hero or zero
this has put too much pressure /risk on yourself - sure the reward is there if you are successful but it will really knock your confidence if you loose which has happened - im sure everyone has been through this
get back on the horse and trade smaller lots say 1% or even less .1 lots fixed size risk at least until you get your feel /confidence back
you can risk more later if you are playing with profit
If its the psychological aspect affecting you, why not have someone only place the trades and not even worry about the customers. This way they have no idea how many customers are depending on the profitability and can act with less emotion.
Time is your friend; impulse is your enemy. - Jack Bogle
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