Quoting altapowderDislikedI left it at the default 30 minute period. An I set a max of 30 open orders, hoping I could contain the float.
Today was only the first day so we will see how it goes.Ignored
I had imagined that you'd have buys and sells alternately with your settings without having many positions stay open too long.
Isn't that even more vulnerable than other settings in case of a strong trend?
Did you set the MaxOpenOrders at 30? If that's the case, I think it will open up to 30 orders per currency pair. Is that what you intended?
My result 3 full days into demo trading firebird is:
v1.0c1 23-1 121 pips booked with $900 in float loss (0.1 lots)
v63-TS 12-0 360 pips booked with $700 in float loss (0.1 lots)
Currently I use the major 4 plus USD/CAD and AUD/USD.
One thing I noticed now is that with v1.0c1 I have only one win and a loss (of 236 pips) with about $700 in floating loss on GBP/USD, whereas with v63-TS I have 4 wins with no loss and about $600 in floating loss.
It seems that GBP/USD pair has a tendency of going one direction for several hundred pips many times a year. Looking at 4-hour chart reveals a good example of this - a hike of 1,600 pips in about a month from April to May this year.
Like someone is doing, going with conservative setting or using a more conservative version for this pair may make more sense...but with a bit modified setting such as 50-300-50, or maybe 50-2000-50? Just kidding but it looks like it definitely deserves a different setting from other pairs'.