Hi traders, I need your help to find a system which will help me to avoid to loose everything in one single day.
I explain my problem (which is quite common from my readings....): I manage to day-trade and gain and loose small amounts everyday, and normally I am quite successful. Then, once I have grown my account, I start feelling more confortable and start trading without stoploss or anyway with a large stop loss, and, as it goes further against me, I continue to increase my size and hence my losses, until it's too large to cut it and I let it go until it blows the account.
Now, ideally, I would like to have a hard system which allows me to loose up to a certain percentage of the starting balance of the day and, after reaching the limit, it would block any trade, or freeze the platform, until the following day. I could code an EA for that, but I could easly remove it, so it won't work...
I don't want to withdraw money from the account because I want to compound it and reach a certain growth, then I will change my MM and withdraw the extra money regularly (hopefully)
Do you know any system that I could set up to stop overtrading, or better, to stop overloosing?
Maybe a broker who offer that functionality (which would be against his interest!)? or to set up an EA which cannot be removed? or an EA that can be removed with effect only on the following day?
PLEASE HELP ME!!!!
Thanks, Paolo
I explain my problem (which is quite common from my readings....): I manage to day-trade and gain and loose small amounts everyday, and normally I am quite successful. Then, once I have grown my account, I start feelling more confortable and start trading without stoploss or anyway with a large stop loss, and, as it goes further against me, I continue to increase my size and hence my losses, until it's too large to cut it and I let it go until it blows the account.
Now, ideally, I would like to have a hard system which allows me to loose up to a certain percentage of the starting balance of the day and, after reaching the limit, it would block any trade, or freeze the platform, until the following day. I could code an EA for that, but I could easly remove it, so it won't work...
I don't want to withdraw money from the account because I want to compound it and reach a certain growth, then I will change my MM and withdraw the extra money regularly (hopefully)
Do you know any system that I could set up to stop overtrading, or better, to stop overloosing?
Maybe a broker who offer that functionality (which would be against his interest!)? or to set up an EA which cannot be removed? or an EA that can be removed with effect only on the following day?
PLEASE HELP ME!!!!
Thanks, Paolo