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Successful Automatic Trading Techniques According to Malcolm Morley

Automatic trading has become a popular choice for many traders as it promises consistent profits 24 hours a day without the hassle. However, success in automatic trading requires some specific tips. Do you use autotrading (automatic trading) to profit in the Forex market? Have you often experienced losses or drawdowns that touch your tolerance limits due to using automatic trading? Malcolm Morley, a trader with experience since 1972, has successfully developed an autotrading system that generates consistent profits. Curious about the tips shared by Malcolm Morley?

Brief Profile of Malcolm Morley in the Forex Trading World

Malcolm Morley began his career as an institutional forex trader at the Bank of Nova Scotia, London, in 1972. Later, he was transferred to Toronto, USA, where he developed his career as a project manager and banking system consultant for major banks such as Citibank and Credit Suisse. His skills in building automatic trading systems began from his experience as an inventory and treasury administrator at a bank. Although he did not have a college degree, Malcolm Morley demonstrated his expertise in the trading world by becoming a trusted banking system supervisor.

In the early years of his career (80s-90s), the Forex market was dominated by major banks, making it difficult for retail traders to compete. However, with the development of the internet and the emergence of Market Maker brokers, access to the Forex market became easier. Malcolm Morley started retail trading in the stock market before eventually switching back to the Forex market because he felt more familiar and comfortable with its dynamics.

Automatic Trading Tips from Malcolm Morley for the Forex Market

According to Malcolm Morley, the success of automatic trading depends on several key factors:

  1. Spread: One crucial factor is low spread value. This is especially crucial for automatic trading systems with scalping strategies operating on low timeframes. Avoid pairs with high spreads or during news releases that can cause unexpected spread spikes.

  2. Analysis Method: Quantitative technical analysis techniques form the main foundation in automatic trading. Although some subjective analyses like fundamental analysis are challenging to implement in automatic systems, understanding important economic events is still necessary to avoid excessive volatility.

  3. Capital: It is important to consider sufficient capital to support the automatic trading system effectively. Conduct feasibility tests first with small capital before allocating larger amounts.

  4. Trading Facilities: Ensure you have a stable internet connection to run the automatic trading system optimally. If necessary, consider using VPS or APIs from your broker to enhance system performance.

  5. Risk Management: Clearly understand the risk management applied in your automatic trading system. Based on the strategy used, drawdown and loss risks can vary, so it's important to set position sizes and risk/reward ratios wisely.

Building a successful automatic trading system requires skill and a deep understanding of the market. Malcolm Morley is a real example of a trader who has successfully overcome these challenges. Although initially, the Forex market was dominated by large institutions, now access to using automatic trading is widely open to all traders. By continuously learning and sharing knowledge, you too can achieve success in automatic trading. So, stay motivated and keep chasing consistent profits!


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