I've always told people, if you want something done right, take it to a professional - if your house is on fire, do you want your neighbor with his garden hose trying to put out the fire, or are you calling the fire department? If you need to go to court, will you have your friend across the street represent you or would you get a lawyer?
In this case, do I want to trust my money to a system that was developed by an amateur, and either have to run and/or monitor the system myself? This is what I've been contemplating so far.
First I saw automated systems and could see nothing but dollar signs. Now after 2 months of study, have come to find that systems need to be not only designed for success by people who do that type of work full time, but also need to be closely monitored by people who know what they're doing.
This is especially true if:
- you intend to invest a substantial amount of money
- you don't want to have to tend to the system on a regular basis (daily).
Tending to the system includes ensuring the trades are going smoothly, the platform is doing what its supposed to and the data is coming in the way it should. In the forex systems I've been looking at, each of these was a variable even with the best developed systems. On good systems, trades were placed well, but the platform, data, and brokers hosting the platforms are all variables.
So, where am I today? I need to find a brokerage house that runs and maintains the platforms, knows and works with the system authors it trades, and is consistent in its fees and data.
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