Don’t think for one moment that the term “Forex Automated Trading” just means having a robot do the whole thing for you.
It goes way beyond that.
“Forex Automated Trading”
If you break it down word-by-word, it actually does mean “having a robot/EA do the whole thing for you’, but over time, it has evolved to indicate all different facets of automation
- Automating parts of your backtesting
- Automating all of your backtesting
- Automating parts of your trading
- Automating all of your trading
Hey, I don’t make the rules, but this is where we are now.
And there are so many ways to leverage this to your advantage.
If you want to jump to those ways right now, just scroll down to the middle of the blog post where it says “For You”.
I want to first say, that I have yet to automate anything in my 12 year career. Looking back, I’m happy I did it this way.
I now fear no obstacle when it comes to trading or investing. I fear no challenge in life itself. Over time, by not taking any shortcuts, I have withstood just about everything from a psychological standpoint, and there no situations in life that I cannot simply just barge right through.
You cannot put a price on this. By never taking the path of least resistance, you become…wait for it….resistant.
All of my successes have come from either completely falling on my ass a multitude of times, or getting absolutely nowhere for a very long time — long enough to knock most people out of the game.
I see people complaining in my comments sections how they’re not getting anywhere, and I remember my early days too. I felt the same. I was smart enough to know that verbalizing it in public wasn’t going to do me any good, but I digress.
The solution, especially at the time, was to just keep going and power through it.
And I’m glad I did.
Many of you are soft, and are going to jump right into the automated game after your very first setback. If I were you, I wouldn’t tell anybody about this. Especially if they’re hot.
But 12 years later, what steps would I take right now? Would they be the same?
Dawn of a New Era
Everything is better now thanks to technology. You may disagree, but what angers you is likely the human response to technology, not the tech itself.
I refuse to ever allow technology to run away from me and become one of those people who refuses to understand it. This is when you officially begin to die IMO. It’s too big a part of everyday life now. Again, I don’t make the rules.
Personally, I would absolutely leverage the automation aspects of testing indicators and systems. Christ Almighty, where was this when I was sitting there with notebooks and spreadsheets for four hours a day?
The only “Automation” at the time was done-for-you EAs. I hadn’t gotten that desperate yet. I was actually determined, go figure.
Plus, none of them worked long term. Back then, it was only a matter of the marketing machine behind the product, not the success of the product itself.
But being able to test my indicators over all time frames and pairs, and likely at a more accurate clip, without all the labor? Now we’re talking.
And look, I realize, you and I aren’t the same. We all have different wants and needs when it comes to automation.
This is why I have you covered on all fronts.
Before we begin, just know I have no affiliate deals with any of these people or products.
And also know, you take your own risk into your own hands any time you do anything, including using somebody else’s stuff.
We have everything from backtesting help, to money management and psychology help, to full system help, to indicator conversion.
Let’s get started.
Companies, And Community Contributions
Over the years, the brilliant NNFX community has been cranking out all sorts of EAs, learning materials, and all sorts of useful stuff for traders to leverage.
My apologies to those who did not get chosen for the blog, I could only mention a small percentage of you.
Some things are paid, some are not, but use them as you see necessary.
Dan Stone of Stonehill Forex is building the top website (next to mine) for those who want to continue their NNFX learning.
He has lots of different ways to test indicators, and in the video below, he will be showing you how to use the built-in tester on MT4. It’s amazing how many people don’t know how to use it. I, shamefully, was one of those people.
Also, Dan is the only person legally allowed to take my copyrighted free material and make a paid course out of it. He took 80 hours of material and condensed it into 10. For a fee, of course.
The course is done in a classroom type setting (Dan was a teacher for 20 years), and it built for those who don’t have time to go through all 180+ of my videos.
But he also has a lot of great free stuff currently on the site, with a lot of stuff on the way.
Here is the tutorial for the tester.
Arya is a company out of France doing some great things in the automation world. Ben Kennedy, who is English, is your go-to for the video below, and any questions you might have.
The product mentioned in the video is an NNFX-specific EA that can take care of all of the parts of the trade AFTER it is entered.
So the stuff that everyone screws up — the money management, the post-trade psychology, etc.
I will also include the link to the product page, and Ben’s email under the video. Here go.
Link to the product – https://arya.xyz/en/eshop/software/arya-suite
Ben’s Email – email@example.com
Do-It-Yourself Automation Learning Materials
Some really great NNFX-specific courses, free and paid, for those who want to learn how to code your own stuff.
For MT4, Jaxe from South Africa has a whole suite of paid tutorials, from creating your own backtesting systems, to entire EAs back to front. His homepage is HERE.
For TradingView, Dillon from Australia, who’s also a Prop Trader, has a free YouTube channel going over how to code everything NNFX-related. Indicators, money management, TSL, all of it. His most comprehensive video can be found HERE
MT4 is great because it has the most indicators available. But what if you prefer TradingView? We have your back. You can now, for a fee, get your favorite indicators converted over.
For TradingView, I got a guy. GO HERE
With so many great resources out there, primarily ones that are specific to what we do here, you would be crazy to turn your noses up at them.
We need all the help we can get to achieve our goals in the FX trading world.
And help, as it turns out, is everywhere.