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Automating strategies keeps me sane ๐Ÿ˜Š for FX:NZDUSD by DarrenHill

Running a strategy with a proven edge has me comfortable mentally on how a trade plays out, Be it a stop out or a take profit target met.

Also automating those proven strategies and just letting them be helped with my mental state as a trader.

Trade alerted 17:45 this afternoon and has been close once to TP.

I didn’t know this I was in the garden enjoying the late summer sun that has bestowed the UK this week ๐ŸŒž

Once upon a time watching the charts would of had me thinking of closing to soon and then filling with regret as the retrace occurs that I didn’t close.

Only reason to look at chart tonight was a quick mid week review of trades and this trade is one of my open ones.

Trade details are shown on the chart.

We are working the 15M time frame on this strategy.

We’re looking for the green line which is take profit target.

Little red arrow is entry point and purple line is stop loss.

The current open trade still might not hip TP but I’m not allowing emotions to play a part I let the objective based plan play out.

Previous trades shown on chart from the last two days.

Trade history can be seen at the foot of this trade idea too for full transparency.

These are year to date stats.

How do you as traders journal your trades I’m intrigued to know?

Having back test capability and a trade log which is possible through TradingView pine script saves me hours in manually logging trades as well as manually back testing.

Having that level of data allows me to know I’m running a proven strategy and that I have an edge.

The next key bit to staying sane/stress free and one of the best pieces of advice I could give as a trader is use technology available to your advantage.

Trading shouldn’t consume every spare minute. Most of us do this to escape the 9-5 so don’t spend hours at charts unnecessarily.

Not spending hours at charts is why I haven’t shared all these trades on this pair and when this current one alerted.

If your reading this tonight let this sink in I’ve only looked at this chart once this week when I shared my last idea yesterday on the pair in question.

There has been three trades since then and I’m only just looking now!

Take it from me find a strategy that works and then automate that strategy.

Your mental health and well being will be the winner in the long run along with healthy account gains.

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I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.

Jumping on random trade ideas ‘willy-nilly’ on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way.

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Please hit the ๐Ÿ‘ LIKE button if you like my ideas๐Ÿ™

Also follow my profile, then you will receive a notification whenever I post a trading idea – so you don’t miss them. ๐Ÿ™Œ

No one likes missing out, do they?

Also, see my ‘related ideas’ below to see more just like this.

The stats for this pair are shown below too.

Thank you.

Darren

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