Professionals vs Amateurs

This is a discussion on Professionals vs Amateurs within the Psychology, Risk & Money Management forums, part of the Methods category; Originally Posted by foroom lluzers That is what I am trading without automation.If automation has hiccups or disruptions , the ...

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Old Oct 17, 2017, 9:23pm   #25
 
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Originally Posted by foroom lluzers View Post
That is what I am trading without automation.If automation has hiccups or disruptions , the lack of psychological skills will cost dearly.These will jeopardize the risk management.
From my experience, I am much more likely to make mistakes than my automated system, I can be hung over, oversleep, emergency at work, sick, on vacation, etc

The system will plug along nicely, you just need to monitor the servers and have a contingency in place...
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"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Oct 18, 2017, 10:29am   #26
 
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From my experience, I am much more likely to make mistakes than my automated system, I can be hung over, oversleep, emergency at work, sick, on vacation, etc

The system will plug along nicely, you just need to monitor the servers and have a contingency in place...
Everyone’s dream that, Quantt. Just go about enjoying yourself while money pours into your account. I doubt it’s quite like that in reality, though
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Old Oct 18, 2017, 12:24pm   #27
 
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Everyone’s dream that, Quantt. Just go about enjoying yourself while money pours into your account. I doubt it’s quite like that in reality, though
Yes Sir, I wish I had an ATM in the corner of my office chugging benjamins all day long, but in real life, I have losing days, weeks, months and years - it is all automated though :-)
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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