Friday, 18 October 2013

It's Simple if you use Algos for Discipline and Focus

Trading is not easy but it can be made easier if you keep it simple. This morning's trades in the DAX are a good example.

Creating an algo - MultiCharts, TradeStation or Ninjatrader, it doesn't matter which - allows you to wire in the discipline and focus. Instead of needing to be focused and smart for over 480 minutes every single trading day, putting the effort in creating an algo to do what you would do to enter the trade makes more sense if you create a trading plan with specific goals. This way, whether you trade hybrid or fully algo, you leave the focus of capturing the trade to your Flobot. Then to manage the trade you can either trade hybrid (manual exits) or still fully algo but adjusting your stops and targets to the context that you see BEFORE you turn the algo on.

Here's the pic. The range of the overnight ES told me that a 250 Euro target would be high probability for both the Inside Out and the Outside In trade.

Today is the one month anniversary of the death of my Mother. She was 94 years old and passed away peacefully in her sleep. She was diagnosed with cancer in January - the same type of cancer that took my Father in 2007. I'll miss her a lot. I continue to support the various cancer charities, especially Macmillan, that either help look for a cure for cancer or support the people who are impacted by it.


  1. EL, my condolences on the loss of your mother. Though she lived a full life, loss of a close loved one - especially a parent - is always extraordinarily difficult. Best wishes to you and your family.