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Trade Simple

It’s actually crazy how easy it is to lose the signal in the static when you’re only trying to do the opposite: get focused and trade smart.

An all-in-one trading platform like xStation is a godsend because you’ve got literally thousands of professional articles, charts, indicators and shared strategies all living on one easy-to-use dashboard. But processing all of that— and turning it into a successful trade—is like finding the proverbial needle in a haystack the size of LA.

You’ve got to read the trends right, identify your set-up, set your trigger and trade it, hoping you got it right. Then you have to sit around and wait without getting spooked and selling too early (or getting greedy and sticking around too long).

If you get it wrong or get emotional, which is almost guaranteed, you’ve got to do it all over again. With real money.

Ouch.

Or you could just follow these 3 easy steps and make your holiday trading days simple and stress-free with an insanely easy-to-use algobuilder.

 

Step 1: Go algo with your set-ups

Trading success requires mastering a handful of techniques. Thinking up winning set-ups is one of the most important. A winning set-up basically means the exact set of conditions that need to be met to make a trade earn you money.

The truth is, very few of us nail set-ups on the first try. That would be like kicking a football in between a goalie’s legs from mid-field.

Not going to happen. You need to test your set-ups. And test and test and test.

Back in the manual trading days, the only way you could test a set-up was through a brokerage, or a quant who could whip you up a one-use algo. You thought up your set-up and handed it over. After that, things were pretty much out of your control.

Times have changed. Smart, user-friendly algobuilders like (ahem) Tekton have revolutionized trading by giving the power back to the trader. With an algobuilder, going from thinking up a set-up to actually building a solid trade out of it is completely in your control, and it literally takes only a few clicks.

It’s just so much easier to come up with winning set-ups using an algobuilder that we’d buy all of you your very own if we could.

Wait, sorry, our algobuilder is absolutely free. Anyone want a glass of champagne instead?

 

Smart, user-friendly algobuilders like Tekton have revolutionized trading by giving the power back to the trader.

 

Step 2: Set your trigger (and relax)

Any manual traders still left in the room?

No? Ok. Because this next part only works with algos.

A trigger is a criterion that has to be met to make a set-up convert into a trade. If you’re using indicators, as a lot of us do, your trigger would be tied to indicator behavior, i.e. the second your indicator reaches a pre-set level or crosses another indicator line, your set-up kicks in and becomes a trade.

Easy?

Well, yeah, it is. If you’re running algos. Because after you set your indicators and fix the conditions to launch your trade in an algobuilder, you don’t have to do anything else.

From trigger to trade, the process is all automated. Even the scariest part for most traders: managing your risk.

 

The truth is, very few of us nail set-ups on the first try. That would be like kicking a football in between a goalie’s legs from mid-field.

 

Step 3: Adjust your risk (and relax even more)

You’ve studied the charts and dived deep into some promising strategy suggestions from your friends on xStation, and you’ve planned a strong set-up. And, because you followed Step 2, you’ve tested your set-up with the right trigger on a first-class algobuilder like (ahem) Tekton.

In other words, you’ve just moved from hunting down your meat and cooking it over an open flame in a cave to using the latest induction stovetop from Fisher Paykel.

Now you’ve got to decide if you take the trade or not, right?

Wrong.

Forget that.

Your algo will decide if you trade, not you.

Not that the market has anything against “you”. This isn’t a face check at Berghain in Berlin. It’s simply this: your algo goes where you tell it to go and does what you want it to do, even if there’s a bouncer the size of a German pine tree in the way.

Of course, this doesn’t mean you don’t get to do the fun stuff, like choosing your trade size, stop loss, take profit and drawdown. You do, and you get to choose your currency pairs (even bitcoin these days) and candle periods. Because what fun would it be if you couldn’t?

You simply don’t have to worry about when to execute your trades ever again, which is a great place to be and a great place to end a story about trading simple.

Any questions about how any of this works, give us a shout here.

 

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