The source of the following content: Wechat public number Hui classroom
"Using systematic learning to design solutions can better control one thing." This sentence comes from trader Ben.
He is an EA trader, automated trading and algorithms are his specialties. In 6 years of trading, the account balance has increased 1000 times from the initial $600. He also won the EA World Cup.
How did he achieve such remarkable results in an era when most retail investors were losing money? Let's take a look at Ben's summary of his trading journey and his views on trading.
Ben has been doing foreign exchange trading since 2006. In the early stage, he has created thousands of percent returns on investing hundreds of dollars. At that time, the business model of the retail foreign exchange industry was still gray, and most novice traders were not very clear about it. Because of Ben's excellent trading ability, he was discovered and invited to cooperate by some large-scale traders, so he knew the way. In subsequent transactions, special anti-manipulation algorithms will be designed, which makes his transactions more successful.
Ben has been doing foreign exchange trading and has not been involved in other investment markets. Because he is more optimistic about the foreign exchange market, he will study many currency pairs. Limit orders are used in trades so that you can react quickly and grab ECN liquidity, have the opportunity to get the best order from STP, and there will be no negative slippage.
Algorithmic traders create trading parameters that include market data collection and storage, backtesting, recording and more. With these infrastructures in place, most of the time can be spent researching and analyzing the market. But many algorithmic traders will be immersed in their own world, with their own strategies and ideas as the core, which is easy to go astray, and they also need to learn market knowledge to expand their horizons.
Realizing that price action and candlesticks can be used to see where the big banks and institutions are moving into the market, he analyzes markets primarily using candlesticks. When trading, he pays more attention to the risk-reward ratio rather than the pip value. Only by investing a low proportion of the account in each transaction can he trade with confidence at any time.
When asked about his definition of "successful forex trading", he said there is no fixed formula. But several things are important. First of all, you must find a reliable trader who is most suitable for your trading strategy, so that you only need to concentrate on trading. In addition, the liquidity of market prices during transactions, the smoothness of transaction execution, and if EA transactions are used, the pricing model and API conditions are also crucial.
Generally successful people are more humble, Ben is also the same, he does not think he is very successful. Although my EA trading seems to be comprehensive, sometimes I still feel very tired, which will trigger some uncontrolled transactions. So he thinks he still has a lot of plans to do. He revealed that the key to some of his previous achievements was relying on independent thinking.
The above is Ben’s brief sharing. There are many successful traders, and everyone has their own focus. Ben has a certain understanding of the entire foreign exchange market and is an image of an algorithmic trading analyst who tends to think independently. Although we cannot directly apply his general experience, we can also understand the characteristics of many successful traders.
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