Trading is definitely a much larger percentage (80%) psychology than a strategy (20%) game.
Proven by the very fact if you gave 20 traders a simple trading strategy ~25% would make a profit… ~75% would lose money and blame the strategy… This has been shown in 100’s of threads across many trading forums over many, many years…
It’s one of the biggest controversies in the trading ecosphere… Hundreds of thousands of free strategies across the Internet… some good, some bad… Competent traders modifying bad strategies to be profitable, while incompetent traders are modifying good strategies into guaranteed loses… It’s that simple.
@Blackduck, are you serious?? 99% of Algo’s include logic for alerting traders to trading opportunities…
Why would you sit at a screen and wait for say Price to cross above or below the SMA200 on the 4 hour Time Frame? Or the USD to move above the AUD on a daily CSW Meter?.. Are you nuts!!!
Additional to opening, closing and modifying positions… all Algo’s I design include alert logic that can watch and filter every available instrument your Broker offers. XTIUSD breaks above a Multi Time Frame VWAP…
If I’m out… the logic will either email or notify my mobile device or if I’m in my office it will activate a WAV file which states Instrument, Time Frame and the time the condition is met… A few members here on BP were given this software to use and Beta test a few years back…
A computer CAN watch the market (all 28 pairs and more) and filter when a strategies criteria is met, leaving traders ample time to wander around in circles, scratch their a$$ and bump into things…
I cannot believe some of the nonsense that gets posted on these forums of late…