Trader's trading algorithm is simply a list which contains all necessary steps to be taken in certain situations, and a clear sequence of decisions which are based on the trader's personal strategy.
The entire Forex trading goes hand in hand with emotions, and experienced players recommend to have own clear trading algorithm at the ready in order to avoid negative outcomes of the trades made under the influence of emotions.
The team of developers at Gerchik & Co have come up with the Algorithm Developer, a unique solution designed to make trader’s life and daily trading in financial markets much easier.
All the trader has to do is have a strategy on the basis of which the Algorithm Developer will generate a trading algorithm. The software has a simple and user-friendly interface which even a newbie trader will be able to figure out.
All verified users can use the service free of charge. The newbies are especially urged to enable it.
You can do so in your personal account by clicking on «Services» tab. After you fill in the required fields, the Algorithm Developer will send a customized trading algorithm to an email you have indicated.
It won’t take long to develop your trading algorithm. All you have to do is complete a few pages, having entered your data. It is basically a standard requirement for all services and there's nothing complex here.
It has the print function, so the user can get a personalized manual. Whenever needed, you can read it and analyze:
- whether everything was done correctly;
- identify liossible mistakes;
- avoid them in the future.
The traders will be able to clearly see the strengths and weaknesses of their strategy and examine its shortcomings under a microscope. The use of this feature will take trading to the next level much faster.
What is important is that the trader remains focused and doesn’t rush, when inputting information. In each section, you will either have to tick the box next to the chosen answer, or provide a detailed description.
Before creating the algorithm, you should also prepare the images of signals of your own strategy in .jpg format for their uploading into the system.
The trading system is a set of rules which is generated based on the trading signals. A plan which has been thought through down to the smallest detail is a key to successful trading in the Forex market.
The trader needs to learn the rules for going long and short, know how to determine the traded volume and allowable level of losses.
In the course of Forex trading, the data in the interface can be adjusted by introducing changes. This way, your trading algorithm will be evolving along with you.
The steps taken according to the algorithm eliminate chaotic decision-making and structurize work. The market player will be head and shoulders above his or her competitors. This solution makes individual trading more successful and efficient.
Without the use of such assistants, becoming successful in Forex today is next to impossible.
The system develops customized trading algorithm, factoring in such parameters as the leverage size, daily routine, risk management system, and currency pairs preferred by specific trader. So, you can’t just grab someone else’s algorithm and apply it in your trading.
You need to develop your own, making occasional changes to it, and in doing so improve it.
When using this tool, you have to:
- take into consideration all market aspects that have an impact on trading;
- describe your possible behavior during unexpected market situations;
- work out preparatory measures before starting to trade, as well as after the end of the trading session (analysis of the work done);
- consider the expected risks when making the trades;
- indicate the instances when you should stop trading in case of force majeure event.
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At first glimpse, it all may seem mind-boggling and time-consuming. However, it couldn’t be further from the truth. Having all these filled-in files, the software will pull all of the information together and generate the trading algorithm.
It is important to carefully read it and correct the answers in the course of trading. That way, you adjust the algorithm to the market dynamics.
Trading statistics proves that the steps you take according to carefully developed algorithm produce much more positive outcomes than without it.
Aside from that, the algorithm is geared towards long-term fruitful cooperation, and not on one-time trades. This solution allows to eliminate mistakes made due to poor attention to detail or under the influence of emotions.
To consolidate the material, see the video below!