Though Robopip and
mechanical trading systems in general have gained popularity over the last few years, humans still control the ebbs and flows of the forex market.
The best traders and investors in the world like Warren Buffet, George Soros, and others, are not
using mechanical trading systems that are called «Turbo Pip - Blaster 5,000» or something equally as silly.
If it was as simple as developing or buying
a mechanical trading system or indicator we all would be rich.
Read a nice article regarding market timing regarding the stock market &
mechanical trading systems.
In his book, «
Mechanical Trading Systems: Pairing Trader Psychology with Technical Analysis,» author Richard Weissman identifies three basic trader personality profiles: trend - following, mean - reversion, and day - trading types.
With
the mechanical trading system, the entry point should be set at one or two pips under the monthly pivot, as illustrated in the above chart or another dependable indicator like Bollinger Bands, polarity indicators, or close by trading range levels.
When I wrote My 2018 Trading Resolution to create
a mechanical trading system from scratch, I was expecting to spend at least six months tinkering with the system before I can come up with a prototype that promises to be profitable.
Top Dog Trading is a manually traded,
mechanical trading system.
Unfortunately, there's
no mechanical trading system out there that will stay effective over changing market conditions.