Hi there,
I’ve been working on a few systems and found an easy way to set them up in demo and receive strategy notifications when conditions are met. I know people go manual or automated, but does anyone trade based on notifications?
I am fine with missing the occasional trade, I am just afraid of the impact that emotions might have on the performance. I am trying to become more disciplined and this is sort of the point of the exercise.
I am including the strategy results.
You cannot fire by keeping the gun on someone other’s shoulder. You have to work on your own skills and knowledge in order to stay profitable. You have to rely on your own in terms of money matters as it is safe and sound. You are the one who will feel the loss!
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Firstly, trading off notifications or signals is trading off trust. Its unusual for the signal generators to divulge how they identify the signal point, so you’re making financial decisions based on the unexplained say-so of some people you don’t even know. So your market edge is you’re very trusting?..
Secondly, a strategy must comprise more than an entry signal, and normally that is all signal and notification services offer. But it is the other elements which will divide winners from losers and small winners from big winners - what size position to open, how much of your capital to put at risk, when to exit with a small loss, where to set the stop-loss, when to move the stop-loss, when to add to the position, when to reduce the position, when to take profits…
The answers to each of these can be very individual so you’re on your own with these. But its hard to get these right if you don’t have an understanding of your own strategy. Because it isn’t your own strategy.
I use netdania to get notification if my system criteria met