Recently I read an article about stoplosses.
They did a test, where they created two groups of people that had never traded Forex before.
The first group they taught them a little MM, which involved setting stoplosses to minimize their losses.
The second group were taught nothing at all.
Then they set them to trading...
In the end- the first group surpassed the second group in profits.
Not only that...everyone(individually), in the first group, made more than the best trader in the second group.
**I need an EA, who's sole responsibility is to stop out a Pair-when they reach a preset pip loss!!
That will allow me(as Don stated), to free up resources towards more beneficial trades.
The biggest question is how much of a loss are we willing to take, per Pair lol
The truth be told- I havent been using any stoplosses at all, and haven't closed any trades in the negative, and there are some trades that are into significant drawdown...but for some reason I am still able to trade, and make pips.
They did a test, where they created two groups of people that had never traded Forex before.
The first group they taught them a little MM, which involved setting stoplosses to minimize their losses.
The second group were taught nothing at all.
Then they set them to trading...
In the end- the first group surpassed the second group in profits.
Not only that...everyone(individually), in the first group, made more than the best trader in the second group.
**I need an EA, who's sole responsibility is to stop out a Pair-when they reach a preset pip loss!!
That will allow me(as Don stated), to free up resources towards more beneficial trades.
The biggest question is how much of a loss are we willing to take, per Pair lol
The truth be told- I havent been using any stoplosses at all, and haven't closed any trades in the negative, and there are some trades that are into significant drawdown...but for some reason I am still able to trade, and make pips.
DislikedTex,
If you had a set stoploss of 40 pips per pair (560 total for 14 pairs), risking only 0.5% per pair (7% of account for total basket), you could trade 5 mini lots per pair with $40,000. With $50,000 you could be trading 6 mini lots and 3 micro lots per pair with same risk.
So am I to assume you're risking 100 pips/0.5% of account per pair, to only be trading 2 mini lots per pair still? That just seems like a huge stoploss - 100 pips per pair (1,400 pips for the basket), where if you actually had a stoploss set, you could maximize your...Ignored