AUTOMATING YOUR RISK RULES!
If I had to pick some of the lowest hanging fruit for traders nowadays, it’s using AI to create safeguards and automations to better control your risk.
This could mean automating sizing calculations, automating how many tickers you’re allowed to trade, or how much you’re 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 haven’t 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 you’re 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: