Every now and then I borrow the power of ChatGPT. Its 112
FX Auto Trading, the EA developerReiwa’s Double-E.
This serial has been written with the aim of posting every day since last year.
I think we’ve continued for nearly a year now!
If you read what I’ve written so far,
I’m confident you’ll move closer to better EA operation.
Also, there are parts I’d like to take a short break from,
so I’ll continue posting with the help of ChatGPT.
From time to time, I will post irregularly as in the past.
FX Auto Trading, EA developer Reiwa’s Double-E.
“FX requires the strongest mind”— How do you feel when you hear this phrase?
“No, no, the method or knowledge should come first, right?” some may think. Of course, selecting methods and tools and accumulating knowledge are indispensable in FX trading. However, even the best of these, if your “mentality” collapses, everything can be ruined.
Why is mentality important?
FX trading is not something you can win with knowledge and methods alone. In particular, your mentality is tested in scenes like the following:
When a large profit is in sight
Succumbing to greed and delaying taking profit, resulting in reduced gains.
During a string of losses
Losing composure and entering emotionally driven trades.
When a large loss occurs
Trying to recover by overtrading and expanding losses.
In these situations, without mental strength to stay calm, you cannot make proper judgments, which can lead to large losses.
Mentality is also important in EA operation
Some may think, “Since it’s automated trading, mentality doesn’t matter.” But mentality is extremely important in EA operation as well.
For example:
Deciding whether to stop the EA when a loss occurs
Whether you can endure a temporary drawdown
Maintaining the EA’s trust amid market changes
All of these involve mentality.
Secrets to strengthening mentality
So, how can you train your mentality? Here are a few points:
Be prepared to accept losses
In FX some days you win and some days you lose. Accept losses as inevitable and aim for overall profit.
Enforce disciplined money management
Set reasonable lot sizes and risk tolerance, and create an environment that allows calm operation.
Keep records
Keep a trading diary to objectively review your emotions and judgment patterns.
Create a routine to stay calm
Incorporate fixed pre- and post-trade habits (walking, meditation, etc.) to reduce being swayed by emotions.
Mentality is an “invisible weapon” for FX success. No matter how excellent your knowledge and methods are, if your mentality is weak, you cannot leverage them. Conversely, with a calm decision-making mind, you can achieve stable trading.
“FX mentality is the most important” — please engrave this phrase in your heart!
Well then!
━━━━━━━━━━━━━━━
【Flow from Starting EA to Intermediate Level】
First, it is important to “master installing EAs.”
--------------------------------------------------------------------
MT4 EA (Expert Advisors) and Indicator installation procedures
https://www.gogojungle.co.jp/post/1/8212
--------------------------------------------------------------------
※GoGoJungle video version※
Even at first, you may not understand everything at once, and you will likely stumble.
I also stumbled many times at the beginning, so don’t rush—you’ll be fine!
If you don’t understand something, use the “Contact Us” form!
https://www.gogojungle.co.jp/inquiry
【How to choose an EA】
Now you’ve decided you can operate an EA!
You’ll think, “I can’t tell which EA will win… I don’t want to lose…”
Therefore, Reiwa’s Double-E has published the following articles so you can gauge by backtests.
--------------------------------
https://www.gogojungle.co.jp/finance/navi/series/1714
【How to manage EA risk?】
And no matter how excellent an EA you obtain,
if you neglect risk management, FX will collapse.
So for EA, how should risk management be done?The following articles answer that.
----------------------------------
■“How to calculate EA risk management”
https://www.gogojungle.co.jp/finance/navi/articles/64703
----------------------------------
【EA Operation Mindset is also important】
And, for long-term continuation of EA operation, the “EA operation mindset” is also important.
These articles are,
12/30 Year-End and New Year SP!! A Complete EA Course Part 3
https://www.gogojungle.co.jp/finance/navi/articles/80551
8/12 [Obon Holiday Special]! Now you too can master EA! “EA Operation Mindset”
https://www.gogojungle.co.jp/finance/navi/articles/72829
8/17 [Obon Holiday Special]! Now you too can master EA! “Notes for EA operation”
https://www.gogojungle.co.jp/finance/navi/articles/73797
----------------------------------
That said,
the content is quite substantial and important,
so please make sure to read it even if you don’t understand it immediately!
━━━━━━━━━━━━━━━
【Reiwa’s Double-E EA Listing】
https://www.gogojungle.co.jp/users/112481/products
Specifically categorized EA by genre for Reiwa’s Double-E
https://www.gogojungle.co.jp/finance/navi/articles/67162
(Diversifying by genres is essential when building a portfolio)
━━━━━━━━━━━━━━━
【Reiwa’s Double-E serialized articles】
■EA Beginner’s Guide
https://www.gogojungle.co.jp/finance/navi/series/1700
--------------------------------
“About calculating EA risk management”
https://www.gogojungle.co.jp/finance/navi/articles/64703
【Portfolio version】Calculating EA risk management
https://www.gogojungle.co.jp/finance/navi/articles/65978
Tips for easily spotting fraudulent products (in EA)
https://www.gogojungle.co.jp/finance/navi/articles/64738
Where to check first when you have questions about EA
https://www.gogojungle.co.jp/finance/navi/articles/65619
■How to find winning EA from backtests
https://www.gogojungle.co.jp/finance/navi/series/1714
https://www.gogojungle.co.jp/finance/navi/series/1701
https://www.gogojungle.co.jp/finance/navi/articles/64723
■Reiwa’s Double-E “Push-buying and pullback selling logic” now released!!
https://www.gogojungle.co.jp/finance/navi/articles/65010
https://www.gogojungle.co.jp/finance/navi/series/610
【Reiwa’s Double-E’s Belief】
Develop EA with proper methods,
gain the trust of more people,
and maintain a long-term WIN-WIN relationship,
aiming to revitalize the EA market and raise literacy.
━━━━━━━━━━━━━━━
