Can You Make Automated Forex Trading Really Work?

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#462: Can You Make Automated Forex Trading Really Work?

In this video:

00:28 – The advantages of automated trading

01:31 – We created and launched TFTC Pattern Trader in 2020

02:31 – We’ve automated my manual trading strategy

03:03 – Live account up +6.8% this week

03:35 – How it works

05:55 – Check out Blueberry Markets

06:45 – Please like and subscribe & email me your questions

Can you make automated Forex trading really work? It's something that people have struggled with for years. Let's talk about that and more, right now.

Hey there, traders. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 462.

The advantages of automated trading

Automated trading. It's something that people have been looking to do properly for years and years. It's something that has so much appeal because you can basically set it up, leave it, set and forget. It trades for you, five days a week, 24 hours a day. Just does everything. It sticks to the rules. It's perfect. But as you probably know, if you've been trading for any length of time, and if you've tried automated trading, or if you purchased EAs or expert advisors, any type of robot system, you'll probably know that it doesn't work and that it has failed. And I've personally had so many attempts and trials and goes at making automated trading work over the years, and right through from TradeStation, probably about 15 years ago, through to getting people to write code for me, through to buying those bits of software that you can create your own expert advisors, and it spits out the code for you. Tried everything and none of it works.

We created and launched TFTC Pattern Trader in 2020

And so that's why, about two years ago, we launched our own automated trading software, which does work. And we have overcome all of those issues that people have traditionally had issues with and problems with. And we are very conscious of the fact that the people have so many indicators and they over-optimise things and they make it look absolutely awesome in hindsight. And as soon as the day you put it live, it just fails. It goes downhill like a lead balloon. It takes your account out and it's just a waste of money and time. So we're very conscious of that when we started developing our software. It's called TFTC Pattern Trader the TFTC, of course, for The Forex Trading Coach Pattern Trader. So have a look online, tftcpatterntrader.com.

I'll put a link to it below on this post, so you can go and find it and have a look. By the way, there's a free 10 day trial to the most basic version. You don't get to trial the full thing, but there's videos showing you what that does include.

We’ve automated my manual trading strategy

Now, one other things we did is we took my manual trading strategy and we tried to automate it as best that we can. And you're never going to have everything exactly perfect because the human eye and the brain can figure out a lot of things that you cannot programme. But likewise, there are so many advantages of it, such as, it looks all of the time for you. It takes the trades to the set rules and the right risk management, et cetera. So there's pros and cons to automated trading as there are manual trading.

Live account up +6.8% this week

But to give you an idea just this week so far, I am up 6.8% on my live account. I'm risking only half of 1% per trade, and I'm up 6.8%. I haven't taken a trade. I haven't touched a thing. It's 100% automated and I'm up probably what my bank's going to pay me in at least two years or three years. And I mean, I've made that in a week. Does it make that every single week? No, of course it doesn't. But it can do that, when the conditions are right,