I have recently opened up a committed EA account with Oanda in 50:1 leverage, and that I'll be using to trade having an automated system (90%) while applying my own risk management techniques and discretion about which days I shall permit the system to trade automatically for my own account.
Going forward, my discretion entails news , by that I mean that on days with scheduled economic releases which are anticipated to proceed markets (directional price swing days) I'll avoid live trading with the EA.
The EA I am using is a simple fashion breakout EA that's designed for the GBP-USD or EUR-JPY. I have selected this one as it is based on simple parameters that I can know, and that are commonly recognized as valuable in the technical community.
I am sharing this journal for my personal benefit and that of everybody here - it will be an exercise in risk management, and people will come to understand that the perfect way to trade with an EA isn't to set it and forget it but to monitor as best you can and use your decision sensibly in determining when to use the machine.
Reply With Quote
