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Originally Posted by forexwolf
Hi folks,
I am planning to get things going on putting up an EA for this. I still have some questions.
1. What is the exit strategy ? Is it when order either hits target or gets stopped.
Exit when profit is hit or you are stopped out
2. Is it possible that order placed in European session remains open and we take another position in the US session. ie. can there be two open orders ?
Yes, orders open in the eruopean session carry over to completion. Never more than one order at the same time
3. Do orders carry over the next day if they are not hit (this would be really unlikely considering the average daily range of EUR/USD
It can happen but it is very rare.
Any more information is appreciated. Can u post the maximum drawdown in manual testing ?
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I have never seen more that three losses in a row over a year and a half,but I did not have the benefit of knowing news during that time so most likely some losing trades would not have been taken in real time