Quote:
Originally Posted by intuitrader.com
"Did you set any stoploss in your EA? I've tried to search previous thread about this system on other forum too, I found that this system prefer to use mentally stoploss, means no physicall stop loss. The backtest result was not that excellent everytime we try to set stoploss. Maybe Don himself can give us some light regarding to the stoploss strategy."
Trading without stop loss is not profitable in the long run. Mental stop loss usually is not executed in real time specially in volatile markets, characterized by gapping prices. In using mental stop loss, a trader is tempted not to execute the stop los level given the hesitation to cut losess and the hope that the prices will get back to the original position. Thus usually, a trader who use mental stop loss will end up with a bigger loss. The bigger the loss the harder for him to recover such losses.
Therefore it is better to use actual stop loss. Trading success is nothing but a result of DISCIPLINE. Real stop loss fosters such discipline and eventually success.
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The EA uses all sorts of stops:
1. stop loss
2. Breakeven
3. Breakeven plus lock in
4. trailing stop loss
I don't advocate a stop since out research shows no stops equal no losses with 100% wins. That being said with a week like this it may or may not be a good idea to use one.
We will be looking into adding a hedge trade automatically at a certain condition it met. I am looking at his now.
We have a new 4.set file that will turn this EA into a 12 pip scalper. This produced a 31 trade in a row profit for WHTenn.
We are looking at this very hard to use a s stand alone or our new hedge helper.
Don
