Hubert Senters here.
Let’s take a look at the importance of trying to automate as much stuff as you can. Now, there’s automated trading which heads up automated trading does not mean unattended trading, you still have to keep an eye on that stuff.
You don’t want to just turn the robots loose. I just have a lot of indicators where I pay programmers, design a lot indicators for my own personal use before I release them onto the market and I’ll show you all the reasons why I do that.
So in this example I don’t have to do any math, I just have to know that if I’m on the right side of the market if I want to take a long trade here it’s going to say ‘’hey, here’s your long entry, here’s your stop-loss, there’s your first target, there’s your second target and there’s your third target.’’
So in this example you’d say ‘’there’s a long and I get stopped out immediately.’’ So first I lost money on the personal day of what it takes then could go in the second time second long right here. Stop-loss is still there. Target 1, there or there depends on which one you hit, I’d probably get on this out on this one. And then target 2 and then it pulled back against me.
The cool thing about it is it takes a lot less emotional toll if you set-up your logic ahead of time and you’re cool with the trade execution. I still have to hit the bond sale. I still have to say ‘’yes, I like that side of the market’’ but it takes a lot of mental load off of you both psychologically, emotionally and logically so if you can think about it it’s kind of like piss poor planning results in piss poor profits. So you want to make sure that you plan properly and then execute properly.
Good luck. Hope it helps and I’ll see you on the next video.
Hubert.
