Not a fan of watching bots chase a losing trade. But, this is the first time The Fed and I are going down this path together. Now that the bot is 16 trades deep with EURJPY, I hope it hits its price of $167.742 soon.
Why am I willing to trust a bot again?
- When my other bot was 6 trades in with USDCHF, it was already at a lot size of 2.16. This bot is 16 trades deep and the largest lot size is 0.83. This one seems less likely of spiraling out of control…I hope.
- This is very early in the “martingaling” of this trade. Multiple trades have been placed. Based on swap fees and commissions, the bot will hit its calculated profit at $167.742. That seems possible, right?
- This bot has navigated all tricky spots in the past. While the history with this bot is only 4-ish months, I am willing to give it the benefit of the doubt…until I am not.
- The account has plenty of room for a little drawdown. When there is drawdown, the rebounds can be quite profitable. I can easily believe the rebound will happen this week…shouldn’t I?
- If I am going to continue to talk about “tractors” and “bot farms” and ongoing passive income, I have to accept the downside to this means of creating income. If it wasn’t risky, everyone (or more people) would do it. To continue my farm analogy, experiencing a few drawdowns puts calluses on my fears. I should be grateful for the workout!
