I've been pondering a lot on automated systems and its benefits to me. Upon reflection, the draw-down that I am currently in now comes as no surprise, every trading methodology has periods of poor performance. What was shocking though, was the size of my draw down.
Leverage like they say, is a double edged sword. In order to lower the size of future draw downs, I need a strict but robust risk management system. A position sizing method to enlarge profits and minimize losses. Straight off the top of my head is the simplest trade larger when you're earning and trade smaller when you're losing. Which is almost the opposite of what I did the past 2 months.
Back to the topic of automated systems, my trading methodology though currently discretionary has all the potential to be automated. Rigid rules and programmable discretionary decisions. However, I know nuts about programming and therefore, need to find a suitable partner to aid me.
Hopefully I will be able to find him/her soon.
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