Is day-trading a myth?

[Fugazi]

Not really sure why people are saying you cant make money out of Forex Trading. There are some things you need to be aware of that move the markets like Tokyo, London, New York openings but its not difficult. Just look for breakouts on any Forex charts at certain times of a 24 hour day.

Couldn't quite crack this one. Managed around -1% ROI when optimised:

using cAlgo.API;
using cAlgo.API.Indicators;
using cAlgo.API.Internals;
using cAlgo.Indicators;

namespace cAlgo.Robots
{
[Robot(TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
public class BreakoutStrategy : Robot
{
[Parameter("Volume", DefaultValue = 1000)]
public int Volume { get; set; }

[Parameter("Stop Loss (pips)", DefaultValue = 10)]
public int StopLoss { get; set; }

[Parameter("Take Profit (pips)", DefaultValue = 20)]
public int TakeProfit { get; set; }

[Parameter("MA Period", DefaultValue = 14)]
public int MAPeriod { get; set; }

private Bars _hourBars;
private double _stopLossPips;
private double _takeProfitPips;
private MovingAverage _ma;

protected override void OnStart()
{
_hourBars = MarketData.GetBars(TimeFrame.Hour);
_stopLossPips = StopLoss * Symbol.PipSize;
_takeProfitPips = TakeProfit * Symbol.PipSize;
_ma = Indicators.MovingAverage(_hourBars.ClosePrices, MAPeriod, MovingAverageType.Simple);
}

protected override void OnBar()
{
Print("New bar: ", _hourBars.OpenTimes.LastValue);

// Check market open times and significant price movement over last 3 bars
if ((_hourBars.OpenTimes.LastValue.Hour == 7 || _hourBars.OpenTimes.LastValue.Hour == 12) &&
(_hourBars.HighPrices.Last(1) - _hourBars.LowPrices.Last(1) >= 0.0002 ||
_hourBars.HighPrices.Last(2) - _hourBars.LowPrices.Last(2) >= 0.0002 ||
_hourBars.HighPrices.Last(3) - _hourBars.LowPrices.Last(3) >= 0.0002))
{
Print("Market open time detected: ", _hourBars.OpenTimes.LastValue);

double currentOpen = _hourBars.OpenPrices.LastValue;
double currentHigh = _hourBars.HighPrices.LastValue;
double currentLow = _hourBars.LowPrices.LastValue;
double currentClose = _hourBars.ClosePrices.LastValue;
double maValue = _ma.Result.LastValue;

Print("Current prices - Open: ", currentOpen, " High: ", currentHigh, " Low: ", currentLow, " Close: ", currentClose, " MA: ", maValue);

if (currentClose > maValue)
{
Print("Executing Buy order");
ExecuteMarketOrder(TradeType.Buy, SymbolName, Volume, "BreakoutStrategy", StopLoss, TakeProfit);
}
else if (currentClose < maValue)
{
Print("Executing Sell order");
ExecuteMarketOrder(TradeType.Sell, SymbolName, Volume, "BreakoutStrategy", StopLoss, TakeProfit);
}
}
}

protected override void OnStop()
{
Print("cBot stopped");
}
}
}

[Archery1969]

Not really sure why people are saying you cant make money out of Forex Trading. There are some things you need to be aware of that move the markets like Tokyo, London, New York openings but its not difficult. Just look for breakouts on any Forex charts at certain times of a 24 hour day.

Couldn't quite crack this one. Managed around -1% ROI when optimised:

using cAlgo.API;
using cAlgo.API.Indicators;
using cAlgo.API.Internals;
using cAlgo.Indicators;

namespace cAlgo.Robots
{
[Robot(TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
public class BreakoutStrategy : Robot
{
[Parameter("Volume", DefaultValue = 1000)]
public int Volume { get; set; }

[Parameter("Stop Loss (pips)", DefaultValue = 10)]
public int StopLoss { get; set; }

[Parameter("Take Profit (pips)", DefaultValue = 20)]
public int TakeProfit { get; set; }

[Parameter("MA Period", DefaultValue = 14)]
public int MAPeriod { get; set; }

private Bars _hourBars;
private double _stopLossPips;
private double _takeProfitPips;
private MovingAverage _ma;

protected override void OnStart()
{
_hourBars = MarketData.GetBars(TimeFrame.Hour);
_stopLossPips = StopLoss * Symbol.PipSize;
_takeProfitPips = TakeProfit * Symbol.PipSize;
_ma = Indicators.MovingAverage(_hourBars.ClosePrices, MAPeriod, MovingAverageType.Simple);
}

protected override void OnBar()
{
Print("New bar: ", _hourBars.OpenTimes.LastValue);

// Check market open times and significant price movement over last 3 bars
if ((_hourBars.OpenTimes.LastValue.Hour == 7 || _hourBars.OpenTimes.LastValue.Hour == 12) &&
(_hourBars.HighPrices.Last(1) - _hourBars.LowPrices.Last(1) >= 0.0002 ||
_hourBars.HighPrices.Last(2) - _hourBars.LowPrices.Last(2) >= 0.0002 ||
_hourBars.HighPrices.Last(3) - _hourBars.LowPrices.Last(3) >= 0.0002))
{
Print("Market open time detected: ", _hourBars.OpenTimes.LastValue);

double currentOpen = _hourBars.OpenPrices.LastValue;
double currentHigh = _hourBars.HighPrices.LastValue;
double currentLow = _hourBars.LowPrices.LastValue;
double currentClose = _hourBars.ClosePrices.LastValue;
double maValue = _ma.Result.LastValue;

Print("Current prices - Open: ", currentOpen, " High: ", currentHigh, " Low: ", currentLow, " Close: ", currentClose, " MA: ", maValue);

if (currentClose > maValue)
{
Print("Executing Buy order");
ExecuteMarketOrder(TradeType.Buy, SymbolName, Volume, "BreakoutStrategy", StopLoss, TakeProfit);
}
else if (currentClose < maValue)
{
Print("Executing Sell order");
ExecuteMarketOrder(TradeType.Sell, SymbolName, Volume, "BreakoutStrategy", StopLoss, TakeProfit);
}
}
}

protected override void OnStop()
{
Print("cBot stopped");
}
}
}

With Forex, economic news factors can be your friend or enemy. For me, I never open a trade 2 hours before or 1 hour after something potentially affecting any currency pair I am trading.

Something that has been going on for decades is the XXXJPY pairs at Tokyo open. If there overbought or oversold then the BOJ will directly intervene to correct the YEN. If you do your homework then you will soon figure out the best time to initiate sell XXXJPY and buy XXXJPY.

Also, towards TOKYO close the reverse occurs after any corrections.

[Fugazi]

Not really sure why people are saying you cant make money out of Forex Trading. There are some things you need to be aware of that move the markets like Tokyo, London, New York openings but its not difficult. Just look for breakouts on any Forex charts at certain times of a 24 hour day.

Couldn't quite crack this one. Managed around -1% ROI when optimised:

using cAlgo.API;
using cAlgo.API.Indicators;
using cAlgo.API.Internals;
using cAlgo.Indicators;

namespace cAlgo.Robots
{
[Robot(TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
public class BreakoutStrategy : Robot
{
[Parameter("Volume", DefaultValue = 1000)]
public int Volume { get; set; }

[Parameter("Stop Loss (pips)", DefaultValue = 10)]
public int StopLoss { get; set; }

[Parameter("Take Profit (pips)", DefaultValue = 20)]
public int TakeProfit { get; set; }

[Parameter("MA Period", DefaultValue = 14)]
public int MAPeriod { get; set; }

private Bars _hourBars;
private double _stopLossPips;
private double _takeProfitPips;
private MovingAverage _ma;

protected override void OnStart()
{
_hourBars = MarketData.GetBars(TimeFrame.Hour);
_stopLossPips = StopLoss * Symbol.PipSize;
_takeProfitPips = TakeProfit * Symbol.PipSize;
_ma = Indicators.MovingAverage(_hourBars.ClosePrices, MAPeriod, MovingAverageType.Simple);
}

protected override void OnBar()
{
Print("New bar: ", _hourBars.OpenTimes.LastValue);

// Check market open times and significant price movement over last 3 bars
if ((_hourBars.OpenTimes.LastValue.Hour == 7 || _hourBars.OpenTimes.LastValue.Hour == 12) &&
(_hourBars.HighPrices.Last(1) - _hourBars.LowPrices.Last(1) >= 0.0002 ||
_hourBars.HighPrices.Last(2) - _hourBars.LowPrices.Last(2) >= 0.0002 ||
_hourBars.HighPrices.Last(3) - _hourBars.LowPrices.Last(3) >= 0.0002))
{
Print("Market open time detected: ", _hourBars.OpenTimes.LastValue);

double currentOpen = _hourBars.OpenPrices.LastValue;
double currentHigh = _hourBars.HighPrices.LastValue;
double currentLow = _hourBars.LowPrices.LastValue;
double currentClose = _hourBars.ClosePrices.LastValue;
double maValue = _ma.Result.LastValue;

Print("Current prices - Open: ", currentOpen, " High: ", currentHigh, " Low: ", currentLow, " Close: ", currentClose, " MA: ", maValue);

if (currentClose > maValue)
{
Print("Executing Buy order");
ExecuteMarketOrder(TradeType.Buy, SymbolName, Volume, "BreakoutStrategy", StopLoss, TakeProfit);
}
else if (currentClose < maValue)
{
Print("Executing Sell order");
ExecuteMarketOrder(TradeType.Sell, SymbolName, Volume, "BreakoutStrategy", StopLoss, TakeProfit);
}
}
}

protected override void OnStop()
{
Print("cBot stopped");
}
}
}

With Forex, economic news factors can be your friend or enemy. For me, I never open a trade 2 hours before or 1 hour after something potentially affecting any currency pair I am trading.

Something that has been going on for decades is the XXXJPY pairs at Tokyo open. If there overbought or oversold then the BOJ will directly intervene to correct the YEN. If you do your homework then you will soon figure out the best time to initiate sell XXXJPY and buy XXXJPY.

Also, towards TOKYO close the reverse occurs after any corrections.

Noted, back to the drawing board will get reading up on this.

Are you manually traded or algo trading? Attaching a news API to the algo?

[Archery1969]

Couldn't quite crack this one. Managed around -1% ROI when optimised:

using cAlgo.API;
using cAlgo.API.Indicators;
using cAlgo.API.Internals;
using cAlgo.Indicators;

namespace cAlgo.Robots
{
[Robot(TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
public class BreakoutStrategy : Robot
{
[Parameter("Volume", DefaultValue = 1000)]
public int Volume { get; set; }

[Parameter("Stop Loss (pips)", DefaultValue = 10)]
public int StopLoss { get; set; }

[Parameter("Take Profit (pips)", DefaultValue = 20)]
public int TakeProfit { get; set; }

[Parameter("MA Period", DefaultValue = 14)]
public int MAPeriod { get; set; }

private Bars _hourBars;
private double _stopLossPips;
private double _takeProfitPips;
private MovingAverage _ma;

protected override void OnStart()
{
_hourBars = MarketData.GetBars(TimeFrame.Hour);
_stopLossPips = StopLoss * Symbol.PipSize;
_takeProfitPips = TakeProfit * Symbol.PipSize;
_ma = Indicators.MovingAverage(_hourBars.ClosePrices, MAPeriod, MovingAverageType.Simple);
}

protected override void OnBar()
{
Print("New bar: ", _hourBars.OpenTimes.LastValue);

// Check market open times and significant price movement over last 3 bars
if ((_hourBars.OpenTimes.LastValue.Hour == 7 || _hourBars.OpenTimes.LastValue.Hour == 12) &&
(_hourBars.HighPrices.Last(1) - _hourBars.LowPrices.Last(1) >= 0.0002 ||
_hourBars.HighPrices.Last(2) - _hourBars.LowPrices.Last(2) >= 0.0002 ||
_hourBars.HighPrices.Last(3) - _hourBars.LowPrices.Last(3) >= 0.0002))
{
Print("Market open time detected: ", _hourBars.OpenTimes.LastValue);

double currentOpen = _hourBars.OpenPrices.LastValue;
double currentHigh = _hourBars.HighPrices.LastValue;
double currentLow = _hourBars.LowPrices.LastValue;
double currentClose = _hourBars.ClosePrices.LastValue;
double maValue = _ma.Result.LastValue;

Print("Current prices - Open: ", currentOpen, " High: ", currentHigh, " Low: ", currentLow, " Close: ", currentClose, " MA: ", maValue);

if (currentClose > maValue)
{
Print("Executing Buy order");
ExecuteMarketOrder(TradeType.Buy, SymbolName, Volume, "BreakoutStrategy", StopLoss, TakeProfit);
}
else if (currentClose < maValue)
{
Print("Executing Sell order");
ExecuteMarketOrder(TradeType.Sell, SymbolName, Volume, "BreakoutStrategy", StopLoss, TakeProfit);
}
}
}

protected override void OnStop()
{
Print("cBot stopped");
}
}
}

With Forex, economic news factors can be your friend or enemy. For me, I never open a trade 2 hours before or 1 hour after something potentially affecting any currency pair I am trading.

Something that has been going on for decades is the XXXJPY pairs at Tokyo open. If there overbought or oversold then the BOJ will directly intervene to correct the YEN. If you do your homework then you will soon figure out the best time to initiate sell XXXJPY and buy XXXJPY.

Also, towards TOKYO close the reverse occurs after any corrections.

Noted, back to the drawing board will get reading up on this.

Are you manually traded or algo trading? Attaching a news API to the algo?

It’s automated.

Picks up a daily news csv file from Forex Factory which lists low, medium and high impact news announcements affecting the base pair. It won’t trade if something is coming up.

The other thing to note is public holidays, you don’t want to be trading those as the big boys won’t be around to intervene etc.

Might sound a bit complicated but it’s relatively simple once you have everything setup.

The BOJ has over 300 traders with a near bottomless pit of money to intervene, usually on a daily basis between 11.30pm and 12.00am UK time.

Just make sure your on the right side, if they move the pairs and your on the wrong side then you could blow your account and end up owing your broker money. Your stop loss could get destroyed in seconds!!!!

[Archery1969]

You will find details here of what they do and why.

https://www.cesifo.org/DocDL/cesifo1_wp1894.pdf

[Fugazi]

You will find details here of what they do and why.

https://www.cesifo.org/DocDL/cesifo1_wp1894.pdf

Thanks for all that Arch. Make sense, just a case of being able to come up with the right automation. I'm only using a demo account currently. Don't think I'll take the plunge for a long time if ever into forex.

How come you can end up owing the broker? If you dont close trades and keep making more?

Also - have you never considered a prop firm if you're profitable? Axi sounds like a reputable company they don't ask for any registration fee

[Archery1969]

You will find details here of what they do and why.

https://www.cesifo.org/DocDL/cesifo1_wp1894.pdf

Thanks for all that Arch. Make sense, just a case of being able to come up with the right automation. I'm only using a demo account currently. Don't think I'll take the plunge for a long time if ever into forex.

How come you can end up owing the broker? If you dont close trades and keep making more?

Also - have you never considered a prop firm if you're profitable? Axi sounds like a reputable company they don't ask for any registration fee

Forex has now been heavily regulated in the UK after the financial crashes. Many old brokers went belly up too. Long gone are the days when you could open a leveraged account to 1:500. Your still now struggle to get 1:200.

In forex SL’s are not guaranteed by any means. The broker has to cover your position so to speak. In reality, you do.

Hence, you don’t want to be on the wrong side of a trade if USA unemployment figures get announced as you might end up needing about 300 packs of nappies!!!!!

[Fugazi]

You will find details here of what they do and why.

https://www.cesifo.org/DocDL/cesifo1_wp1894.pdf

Thanks for all that Arch. Make sense, just a case of being able to come up with the right automation. I'm only using a demo account currently. Don't think I'll take the plunge for a long time if ever into forex.

How come you can end up owing the broker? If you dont close trades and keep making more?

Also - have you never considered a prop firm if you're profitable? Axi sounds like a reputable company they don't ask for any registration fee

Forex has now been heavily regulated in the UK after the financial crashes. Many old brokers went belly up too. Long gone are the days when you could open a leveraged account to 1:500. Your still now struggle to get 1:200.

In forex SL’s are not guaranteed by any means. The broker has to cover your position so to speak. In reality, you do.

Hence, you don’t want to be on the wrong side of a trade if USA unemployment figures get announced as you might end up needing about 300 packs of nappies!!!!!

Seems I am not understanding something fundamental here...

If I spend £1 and buy $2 USD

no matter what, im only out £1

OR is this something to do with paying interest for holding currency and also not being able to sell it? You can see why I'm demo accounting

[Archery1969]

Thanks for all that Arch. Make sense, just a case of being able to come up with the right automation. I'm only using a demo account currently. Don't think I'll take the plunge for a long time if ever into forex.

How come you can end up owing the broker? If you dont close trades and keep making more?

Also - have you never considered a prop firm if you're profitable? Axi sounds like a reputable company they don't ask for any registration fee

Forex has now been heavily regulated in the UK after the financial crashes. Many old brokers went belly up too. Long gone are the days when you could open a leveraged account to 1:500. Your still now struggle to get 1:200.

In forex SL’s are not guaranteed by any means. The broker has to cover your position so to speak. In reality, you do.

Hence, you don’t want to be on the wrong side of a trade if USA unemployment figures get announced as you might end up needing about 300 packs of nappies!!!!!

Seems I am not understanding something fundamental here...

If I spend £1 and buy $2 USD

no matter what, im only out £1

OR is this something to do with paying interest for holding currency and also not being able to sell it? You can see why I'm demo accounting

O dear. Please stick with your demo account.

1. Lookup overnight currency swap rates.
2. You can buy $2 but your initial investment could plummet, so its effectively now worth £0.50 or -£10.
3. Lookup lot size management. If your trading account has $1,000 then stick to 0.01 lot sizes and scale up every x 10 multiplier. $10,000 then 0.10 lot sizes and $100,000 then 1.0 lot sizes. Basically never risk more than 1% of your trading bank per trade.

Over the years, more people have blown forex trading accounts many times more than people with a Betfair account.

Read the T&C’s for forex trading accounts. There will be a paragraph stating that your SL’s are not guaranteed, especially during high impact news statements. You could end up in the position whereby your account is blown, money gone and then got a call from the broker saying you owe us XYZ on top of what you just lost.

In other words, not being harsh, stick to Betfair.

[Fugazi]

Forex has now been heavily regulated in the UK after the financial crashes. Many old brokers went belly up too. Long gone are the days when you could open a leveraged account to 1:500. Your still now struggle to get 1:200.

In forex SL’s are not guaranteed by any means. The broker has to cover your position so to speak. In reality, you do.

Hence, you don’t want to be on the wrong side of a trade if USA unemployment figures get announced as you might end up needing about 300 packs of nappies!!!!!

Seems I am not understanding something fundamental here...

If I spend £1 and buy $2 USD

no matter what, im only out £1

OR is this something to do with paying interest for holding currency and also not being able to sell it? You can see why I'm demo accounting

O dear. Please stick with your demo account.

1. Lookup overnight currency swap rates.
2. You can buy $2 but your initial investment could plummet, so its effectively now worth £0.50 or -£10.
3. Lookup lot size management. If your trading account has $1,000 then stick to 0.01 lot sizes and scale up every x 10 multiplier. $10,000 then 0.10 lot sizes and $100,000 then 1.0 lot sizes. Basically never risk more than 1% of your trading bank per trade.

Over the years, more people have blown forex trading accounts many times more than people with a Betfair account.

Read the T&C’s for forex trading accounts. There will be a paragraph stating that your SL’s are not guaranteed, especially during high impact news statements. You could end up in the position whereby your account is blown, money gone and then got a call from the broker saying you owe us XYZ on top of what you just lost.

In other words, not being harsh, stick to Betfair.

I read ''the trading game'' and everything!

To be honest what I've been finding interesting is the back test and optimisation in ctrader. What I REALLY want to do is optimise my Betfair automations. Wish we could have that function.

Knowing that I can risk more than my account in Forex, I'm definitely giving it a large swerve. Been enjoying machine learning and backtesting. But not comfortable knowing I can lose more than what's in an account. I wouldn't do that with something I do understand. Nevermind with something I don't.

Time to stop being greedy and keep working on my Betfair stuff which is going nicely!

[Archery1969]

Seems I am not understanding something fundamental here...

If I spend £1 and buy $2 USD

no matter what, im only out £1

OR is this something to do with paying interest for holding currency and also not being able to sell it? You can see why I'm demo accounting

O dear. Please stick with your demo account.

1. Lookup overnight currency swap rates.
2. You can buy $2 but your initial investment could plummet, so its effectively now worth £0.50 or -£10.
3. Lookup lot size management. If your trading account has $1,000 then stick to 0.01 lot sizes and scale up every x 10 multiplier. $10,000 then 0.10 lot sizes and $100,000 then 1.0 lot sizes. Basically never risk more than 1% of your trading bank per trade.

Over the years, more people have blown forex trading accounts many times more than people with a Betfair account.

Read the T&C’s for forex trading accounts. There will be a paragraph stating that your SL’s are not guaranteed, especially during high impact news statements. You could end up in the position whereby your account is blown, money gone and then got a call from the broker saying you owe us XYZ on top of what you just lost.

In other words, not being harsh, stick to Betfair.

I read ''the trading game'' and everything!

To be honest what I've been finding interesting is the back test and optimisation in ctrader. What I REALLY want to do is optimise my Betfair automations. Wish we could have that function.

Knowing that I can risk more than my account in Forex, I'm definitely giving it a large swerve. Been enjoying machine learning and backtesting. But not comfortable knowing I can lose more than what's in an account. I wouldn't do that with something I do understand. Nevermind with something I don't.

Time to stop being greedy and keep working on my Betfair stuff which is going nicely!

+ 1

Forex trading is fine as long as you know the risks and adjust your lot size based on your available account funds.

With a $1,000 account and using 0.01 you are virtually very unlikely to blow your account. But trade 0.10 with the same account size then you just increased your chances by 10 of blowing it and got forbid you made a mistake and used 1.0 lot size then the entire account and then some could be gone within a few minutes if your currency pairs go south etc.

[Fugazi]

O dear. Please stick with your demo account.

1. Lookup overnight currency swap rates.
2. You can buy $2 but your initial investment could plummet, so its effectively now worth £0.50 or -£10.
3. Lookup lot size management. If your trading account has $1,000 then stick to 0.01 lot sizes and scale up every x 10 multiplier. $10,000 then 0.10 lot sizes and $100,000 then 1.0 lot sizes. Basically never risk more than 1% of your trading bank per trade.

Over the years, more people have blown forex trading accounts many times more than people with a Betfair account.

Read the T&C’s for forex trading accounts. There will be a paragraph stating that your SL’s are not guaranteed, especially during high impact news statements. You could end up in the position whereby your account is blown, money gone and then got a call from the broker saying you owe us XYZ on top of what you just lost.

In other words, not being harsh, stick to Betfair.

I read ''the trading game'' and everything!

To be honest what I've been finding interesting is the back test and optimisation in ctrader. What I REALLY want to do is optimise my Betfair automations. Wish we could have that function.

Knowing that I can risk more than my account in Forex, I'm definitely giving it a large swerve. Been enjoying machine learning and backtesting. But not comfortable knowing I can lose more than what's in an account. I wouldn't do that with something I do understand. Nevermind with something I don't.

Time to stop being greedy and keep working on my Betfair stuff which is going nicely!

+ 1

Forex trading is fine as long as you know the risks and adjust your lot size based on your available account funds.

With a $1,000 account and using 0.01 you are virtually very unlikely to blow your account. But trade 0.10 with the same account size then you just increased your chances by 10 of blowing it and got forbid you made a mistake and used 1.0 lot size then the entire account and then some could be gone within a few minutes if your currency pairs go south etc.

I mean all it takes is a typo when you're tired...

[Archery1969]

I read ''the trading game'' and everything!

To be honest what I've been finding interesting is the back test and optimisation in ctrader. What I REALLY want to do is optimise my Betfair automations. Wish we could have that function.

Knowing that I can risk more than my account in Forex, I'm definitely giving it a large swerve. Been enjoying machine learning and backtesting. But not comfortable knowing I can lose more than what's in an account. I wouldn't do that with something I do understand. Nevermind with something I don't.

Time to stop being greedy and keep working on my Betfair stuff which is going nicely!

+ 1

Forex trading is fine as long as you know the risks and adjust your lot size based on your available account funds.

With a $1,000 account and using 0.01 you are virtually very unlikely to blow your account. But trade 0.10 with the same account size then you just increased your chances by 10 of blowing it and got forbid you made a mistake and used 1.0 lot size then the entire account and then some could be gone within a few minutes if your currency pairs go south etc.

I mean all it takes is a typo when you're tired...

Mines automated.

Before any trade is opened it divides my available account funds by 100000 to get my new lotsize calculation. There is then an additional failsafe to make sure I not risking more than 1%.

Also, I only trade the following:

- Yen Pairs only
- Don’t open if next day is a Japan public holiday
- Tuesday
- Wednesday
- Thursday

Reason being, not much tends to happen on Mondays and Friday is often high impact USA news. All trades regardless of profitability that are left over from the days above are closed Friday morning. And Yen pairs tend to have large movements and the BOJ get involved if their currency is under any kind of pressure.

Anyway, it’s not for everyone…

[Fugazi]

+ 1

Forex trading is fine as long as you know the risks and adjust your lot size based on your available account funds.

With a $1,000 account and using 0.01 you are virtually very unlikely to blow your account. But trade 0.10 with the same account size then you just increased your chances by 10 of blowing it and got forbid you made a mistake and used 1.0 lot size then the entire account and then some could be gone within a few minutes if your currency pairs go south etc.

I mean all it takes is a typo when you're tired...

Mines automated.

Before any trade is opened it divides my available account funds by 100000 to get my new lotsize calculation. There is then an additional failsafe to make sure I not risking more than 1%.

Also, I only trade the following:

- Yen Pairs only
- Don’t open if next day is a Japan public holiday
- Tuesday
- Wednesday
- Thursday

Reason being, not much tends to happen on Mondays and Friday is often high impact USA news. All trades regardless of profitability that are left over from the days above are closed Friday morning. And Yen pairs tend to have large movements and the BOJ get involved if their currency is under any kind of pressure.

Anyway, it’s not for everyone…

If you haven't already , feed GPT4o data and ask it to create the most complex machine learning automation it can.

Comes up with some bloody good stuff.