DislikedSomeone earlier in this thread mentioned re-buying on a retracement after a close. I think it has a lot of merit. Let me explain.
Let's assume the market has risen and hit the 7/8 band and opened a short of 0.01 lots.
It keep rising and hits the 8/8 band and opens a 0.02 short.
It keeps rising and hits the +1/8 band and opens a 0.06 lot short.
Here it retraces and closes everything when it retraces to 70% of the band with a small profit.
At this point the EA normally opens a new Pending Sell Limit at the +1/8 band for 0.06 lots.
My recommendation...Ignored
Excellent idea!
Do you have any thoughts on how to automatically deal with death trades? I think this is still the great weakness of Pippo.
I tend to think about trading systems defensively first - eliminate errors and trades which damage capital, and then offensively to work on improving profitability.
cheers
f451