Better System Trader
About This Show
If you’re looking for inspiration, motivation and practical advice on improving your trading results, Better System Trader delivers every week. Each episode brings you an expert trader who shares their own story, along with the steps, both good and bad, that they’ve taken on their path to success. With a focus on actionable insights, the tips and tricks used by the experts contain loads of value, providing you with insanely practical tips and tools you can start using TODAY. Improve your trading with Better System Trader.
Most Recent Episode
089: Automated trading – ‘Set and forget’ or ‘Forget and regret’?
4 days ago
One of the appeals of automated trading is that it can be automated. You can 'set it and forget it' if you want. However there can be some dangers with doing so. About a year and a half ago I went through a period of being a little bit slack with monitoring my automated strategies and there was one occasion where my 'set it and forget' approach turned into a case of 'forget it and regret it'... ... A stop loss order for one of my strategies had been rejected ... I failed to check my trading platform for a few days because I was travelling and tired ... That particular lesson cost me 2-3 times the original stop loss size. So that was a stupid thing to do. But I learnt my lesson and now I check my trading platform alot more. A regular checkup to make sure everything is running smoothly is incredibly important because technology issues can (and will) happen at any time. But there's another process I've implemented which has helped me to identify issues that could have gone on for a lot longer if I'd left them unchecked. I got this process from Kevin Davey, so in this episode I've asked Kevin to join us for a quick chat to explain his own monitoring process some more, including some examples of the things he's found by following this process. So lets head over to my chat with Kevin Davey to hear more.