Stop Loss

[^eagle^]

Has anyone experimented with stop losses on this EA. I heard that a stop loss of 100 gives decent results. I am considering testing this myself. I had been manually stopping out at 10 percent of equity but that is way to high. This 100 setting may be a good idea. Has anyone backtested it?

[alan]

Has anyone experimented with stop losses on this EA. I heard that a stop loss of 100 gives decent results. I am considering testing this myself. I had been manually stopping out at 10 percent of equity but that is way to high. This 100 setting may be a good idea. Has anyone backtested it?

It's funny you say as I just set my SL at 100 about 10 minutes ago. I did a backtest with a SL of 100 to 120 and the results were still good. The performance was more "jerky" but at least it avoided those monster drawdowns

That being said in the end the performance using no SL was still better.

Hmm, on a side note, are you guys watching the EUR? It's dropping like a rock. I think the concerted "rescue" plans implemented by the major central banks are having a positive effect so far. Confidence in the USD has returned briefly.

[marieal]

I am going to trade with SL next week. I have seen great profits without SL so far, but I got a monster drawdown and didn't have a chance to close manually early morning, as a result, took a huge loss. I am now wondering how much SL should be.......I am thinking about 80/100pips but haven't decided yet.

[alan]

I am going to trade with SL next week. I have seen great profits without SL so far, but I got a monster drawdown and didn't have a chance to close manually early morning, as a result, took a huge loss. I am now wondering how much SL should be.......I am thinking about 80/100pips but haven't decided yet.

Hmm, good question. I think the SL has to be bigger than the average daily range. I'd say over 100 pips is a reasonable SL.

[marieal]

Ya.....100 pips.....that might be good. Are you still setting 3 trades at a time, alan?

[alan]

Ya.....100 pips.....that might be good. Are you still setting 3 trades at a time, alan?

Yes, but I'm starting to regret having done so. I've taken on a pretty big floating loss (comparatively speaking) of -1566 pips (that's a total pip count of all 4 open positions) Yes, silly me I've added another position in the hope that it would cover for some of the floating loses until I can break even or profit so I can close all positions.

I deserve scolding. Where is that whip :p?

[marieal]

Yes, but I'm starting to regret having done so. I've taken on a pretty big floating loss (comparatively speaking) of -1566 pips (that's a total pip count of all 4 open positions) Yes, silly me I've added another position in the hope that it would cover for some of the floating loses until I can break even or profit so I can close all positions.

I deserve scolding. Where is that whip :p?

OMG.....alan.....Do you remember that I wrote that I got great results by setting one trade at a time on the other forum????? LOLOLOLOL I was kinda mildly warning you, alan. LOLOLOLOL And now, you have added one more trade????? I almost fell off the sofa. (I am serious) This is your DEMO account right?????:eek:

I made the same mistake as you did when I used the old fap. We all make mistakes.......

[alan]

OMG.....alan.....Do you remember that I wrote that I got great results by setting one trade at a time on the other forum????? LOLOLOLOL I was kinda mildly warning you, alan. LOLOLOLOL And now, you have added one more trade????? I almost fell off the sofa. (I am serious) This is your DEMO account right?????:eek:

I made the same mistake as you did when I used the old fap. We all make mistakes.......


Ooops :p nope it's not a demo account, but the leverage used is so tiny that I'm not really losing my shirt if I close the positions. On my demo account I'm running only 1 trade as part of my "long term demo" test.

Lol..glad I gave you a good laugh :)

[^eagle^]

ran the new EA with a 100 pip SL and got really bad results. So bad I had to pull the plug! If the pair takes a run with the bulls you will lose your shirt with a SL. Better to run without one IMO.