Stops are the way to go. - page 14
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There are situations when the price knocks the stop and goes back to the profit side of the position. Therefore, in my EAs I make the stop a bit bigger, and in its place there is a virtual stop(horizontal line). If a candlestick decides to exit the virtual stop, the trade will close when the price reaches the standard stop. Or when the candle closes behind the virtual stop. If the price on the candlestick that moved out of the virtual stop moves back in, the position will not close and may exit in profit, instead of a knocked down stop loss, in the case of a regular stop.
And how often does it come out in profit? I think that if we have reached a virtual stop, we should seek the possibility to exit the position - with the reduction of losses, at the nearest possible reversal point or at breakeven. I.e. fixing of such a situation is the first alarm bells. And also, if we have a stop loss when we have money, should we not think about fixing the profit?
A lot depends on how long a position is held in the market.
In the long term, of course, you can experiment in this way, but in the short term, in my view, only a hard stop.
If you have a clear entry system, then losses from stops are quickly offset by successful trades.
A lot depends on how long a position is held in the market.
In the long term, of course, you can experiment in this way, but in the short term, in my view, only a hard stop.
If you have a clear entry system, losses from stops are quickly offset by successful trades.
To trade like that, you don't have to get hung up on a 51/49 win/loss probability. 30/70 is fine.
Most here are looking for a 90/10 probability, and a lifetime of searching, not trading :)
There are situations when the price knocks the stop and goes back to the profit side of the position. Therefore, in my EAs I make the stop a bit bigger, and in its place there is a virtual stop(horizontal line). If a candlestick decides to exit the virtual stop, the trade will close when the price reaches the standard stop. Or when the candle closes behind the virtual stop. If the price on the candle that went beyond the virtual stop comes back, then the position will not close and can exit in profit, instead of a knocked down stop loss, in the case of a regular stop.
I agree, there is such a problem. In this case I simply close the position and resume it at the same level without waiting for a new signal. I agree, I lose spread - but I do not have to guess what "stop is a little bigger" means.
Stops are required. Trading without stops is a drain on your money.
You can do it without stops if you have nerves of steel and constantly look at the monitor. But it may not help if the power goes out or the connection is interrupted.
I have already experienced a situation where an excavator broke the communication line.
Stopplos put against excavators, not from the inability to trade.)
In fact, there are 2 active scenarios (or at least they should be) - buy and sell. The stop should be placed where you think the scenario is flipping.
For me, locks are like a sickle on something.
I'd rather set an audible signal instead of the stop loss, to visually assess the situation, and a protective stop order at a greater distance.
At the beep we will check whether it makes sense to close, sometimes a short hard stop is not the right solution.
For me, locks are like a sickle on something.
I'd rather set an audible signal instead of the stop loss, to visually assess the situation, and a protective stop order at a greater distance.
At the beep we will check whether it makes sense to close, sometimes a short hard stop is not the right solution.
Not a word about loki