Quoting MoneyMa$terDislikedFB v.2 Results
October 17, 2006
As of 3:25 pm edt., 16 trades closed today.
15 trades closed in profit for 150 pips; 1 loss for 100 pips. GBP/JPY was the one loss (-$842.03) as it trended unabated to SL 100. I will review the code because this issue was addressed such that losses should stop at 65 pips. Still FB generated $626.75 in net profit.Ignored
The condition under which FB liquidates a losing trade is an "and" not an "or" gate. I thought it was an "or" gate in this instance.
In other words, if a trade has been open for "x" hours [like 36] AND pips lost exceeds or equals the designated "liquidate-point-because-of-the-number-of-pips-lost", then FB liquidates the position. Both the "x" hours and "number of pips lost" are trader-provided. The idea is to cut your losses and prevent FB from continuing to the designated SL which at 300 for micros and 100 for standards can be a decent hit. In my tests, that's been the most significant and latest (and last?) obstacle to results without spot or blemish.