Quote:
Originally Posted by azmel
A typical trade will last from a few hours to a few days, sometime lasting over a week - so give it some time to close its positions and not too worry about the many floating positions.
|
What is the stoploss rule ?... how much pips or % or $ you allow a position to go against you ?...
You say that a position can be open as much as a week. But what happens if during that week the price continioulsly goes against you ?...
And important what is the avg T/P you take?....or better what is the avg winn/loss ratio ?...
The reason why I ask this question is that we all saw enough EA's now that have so called very nice hitratio because the T/P is very small but the system allows positions to go in enormous losses. Or floating losses that are many times bigger then the avg. profit. Wich is rediculous and mentaly impossible to trade.
The idea behind it is that so called price "always" comes back but if you look to your monthly charts over the last 10 years, you will find plenty of reversalls where price NEVER came back. So it is more gambling and hoping that price would come back then realistic trading according direction of the market. And without pulling the plug if one has positions against the direction of the market.
So I hope for you that you have a realistic S/L or a realistic avg loosing trade that is in line with the T/P or with the avg. wining trade.
regards...iGoR
PS. Be awere that never was a martingale system build that did not blow up the account after trading it over a longer period. And longer means not a couple of weeks nore months.