getting into automated trading

Hello everyone !

i have been trading manually since 2016 now, but the success could be better. Now i want to start with automated trading, but from what i have heard websites like markets.com cant really be trusted, so im looking for a good alternative website to get into it. Do you have any suggestions ?

Hi, it depends on where are you from. USA, EU, AU.

Choose a broker well regulated in your country.

Do you need MT4? Tradestation? API?

Hello,

from my perspective discretionary traders has a lot more flexibility compared to auto-traders. They usually follow some kind of system the same way as auto-traders but human experience can add something extra to the process of trading which can lead to enhanced performance. Check the track records of some of the top discretionary traders like Marty Schwartz. The problem with discretionary trading as you might know is humans make errors. It can be often seen if you log your trades properly into a trading journal. You go through your trades in hindsight and you can see very often some kind of profit-gap – difference between where you are and where you could end up if you followed your system religiously without questions or ego.

This is the reason while so many trades lean towards the automated trading. They want to eliminate the influence of emotions in system executions. Robots are highly effective for executions compared to human but the truth is emotions are still there even if you let your PC trade because still you will experience drawdowns, stagnations, technology failures etc.

So the question whether the automated trading is “better” is kind of incorrectly put from my perspective. I personally prefer to utilize both approaches so I can get the best of both worlds.