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It seems that there is no initial STOP LOSS value when placing the orders originaly. They later form, but only as profit security. If it jumps on the wrong side of the trend (prior to any profit value) it just rolls down hill until margin call. Any thoughts?
I attached a screen shot to help illustrate the dilema.
It seems that there is no initial STOP LOSS value when placing the orders originaly. They later form, but only as profit security. If it jumps on the wrong side of the trend (prior to any profit value) it just rolls down hill until margin call. Any thoughts?
Exactly. With no initial SL, there will always come a time when the trade will be left hanging for days and accumulating great losses.
I have thought about this type of EA (I seem to remember DayTrading2 had a similar problem), and the best I can come up with is to have a set time every day when all negative trades are simply closed. For example, at 2400EST you would close all open negative trades. You would basically be resetting the EA for the coming day. This EA trades very frequently, so hopefully it would do enough good things during the day to still be ahead overall when you had to reset it at the end of the day.
The reason I say that this is my best suggestion is because it seems the alternative is to simply put an initial SL on every trade, and from my observations, that seems to hurt these types of EAs more than it helps.
I'm still a bit uneasy about the whole (no ground floor) strategy. I like how this 100pip moves through out the day, and feel there is some real good potential here. The way I see it, the only way this system will trade wins, is in "trading markets". However most trends are going to crush the account. 30 pip LIMITS on the reward side will not justify a 2 penny drop in any currency pair. I will give some thought on how to modify some of its characteristics.
Linear Mode
