AUTOMATING YOUR RISK RULES!
If I had to pick some of the lowest hanging fruit for traders nowadays, itâs using AI to create safeguards and automations to better control your risk.
This could mean automating sizing calculations, automating how many tickers youâre allowed to trade, or how much youâre allowed to lose on a position or on the day or week or month.
I know not all brokers allow you to set daily loss limits. But with AI and automation, anything is now on the table.
If you havenât done any of this, take the time to define your rules and look into ways to protect yourself.
It could even be wildly creative! If your account value dips below a level, all positions are liquidated and youâre locked out of your account. Or your wife or trading buddy is emailed to lock you out and demand a post mortem review!
My buddy
@apaley of
@riftapp did an awesome video on some creative ways you can do this: