Manual has a Tendency to Enslave

There is something about things by rote.

They create a groove.

We enter the groove on a repeated basis.

Entering becomes a given.

Our system has aligned itself to entering.

Our system gets comfortable.

It wants to stay there.

It wants more.

How does one extract oneself from this vicious cycle?

Firstly, why do we wish to extract ourselves?

We wish to control Manual, and we don’t want to let Manual control us.

If there’s too much of Manual, our day is gone, and we are not able to attend to more important things in life, like family, extra-curricular activities and all the jazz.

How to go about it is a question of awareness and setting limits.

Thus, you find yourself saying that you will engage to this particular level, and no more, and once this level of engagement is reached, you will put the strategy on auto, and disengage, and remain disengaged till the next screening is due.

Easier said than done, sure.

How is one able to stick to this plan?

If the day is busy, with multiple engagements, one forgets about the activity of the morning by afternoon, because the afternoon has brought with itself a whole new set of activities. Stay busy.

Learn to take small losses in stride. That’ll line you up for the big wins. Strategies left on auto till next screening can incur losses and then get stopped out. That’s part of the deal. Have faith in your stop. You have placed it at a strategic location, where it can not be reached so easily. For your stop to be reached, the market will have to go out of its way. If the market is doing that, you don’t wish to be in the trade anyways. You’re stopped out, and that’s good. That saves you from big losses. Have faith in this philosophy.

So, you’re busy, and you have faith in your philosophy.

You engage, disengage and move on.

You don’t look behind.

That’s how you keep Manual from enslaving you.

Advertisements

Making Forex Go on Auto W/o Software Robotics

Charts.

Chart.

Identification…

…of trade.

Trigger Entry.

Feed in entry level.

Trigger Stop.

Choose between dynamic and fixed stop.

I like the fixed stop that keeps raising itself in chunks, chunk after chunk.

However, you might prefer a dynamic stop.

Trigger Limit. Not necessarily a must.

Put trade on.

Entry triggers.

You are now live…

…and your forex is now on auto,…

… whereby you’ve not used a software robot to achieve this.

Well done!

🙂

Limits will keep you Safe

Safety is under-rated.

People scoff… at safety.

Ask someone to belt-up.

Or, ask xyz to take a backup.

Emergency fund, anyone?

Insurance?

Plan B?

Is anyone really interested?

Ok, don’t have a plan B. Fine.

Then, you need to watch your plan A like a hawk.

You need to install safety nets.

One such net is a limit.

Limit movement of funds.

Nowadays, this takes but a few online clicks. Setting fund-movement limits in your netbanking is not difficult at all.

What does a limit do?

It says ballyhoo to your emotions.

Greedy?

Too bad, fellow, funds more than your defined limits can’t leave your savings account, in case you wished these to depart for your trading account.

So, greed is in check. With force. Order of the day.

Limits will keep you safe.

Over-optimistic?

Same check.

Limits will keep you safe.

So on and so forth.

A little self-control is required though.

You’re not going to tamper with your limit, right?

Right.