Discussion of article "Interview with Ge Senlin (ATC 2011)"
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New article Interview with Ge Senlin (ATC 2011) is published:
The Expert Advisor by Ge Senlin (yyy999) from China got featured in the top ten of the Automated Trading Championship 2011 in late October and hasn't left it since then. Not often participants from the PRC show good results in the Championship - Forex trading is not allowed in this country. After the poor results in the previous year ATC, Senlin has prepared a new multicurrency Expert Advisor that never closes loss positions and uses position increase instead. Let's see whether this EA will be able to rise even higher with such a risky strategy.
Financial trading is very popular in China. Is there any special Chinese way or style in trading?
Yes, financial trading is extremely popular in China. But mainly it's about China's local securities trading. As for Forex trading, it is not so popular as the foreign exchange market is not completely open in China. Therefore, it seems that Chinese foreign exchange trading is yet indefinite and has not found any particular style and appropriate methods.
Your EA does not use Stop Loss and Take Profit. Why?
I don't set fixed stop loss levels, as I think price trend can't be correctly determined in advance. If you set a fixed stop loss, it may spoil everything in the situation when the price is back up. This is the shortage of a fixed stop loss.
I also don't use Trailing Stop, because if set trailing stop, it will lead to no later profitability gained after closing the trailing stop order.
Finally, I don't set fixed take profit levels, because if the market fluctuations are strong, the fixed take profit may reduce the total order profit.
Author: Automated-Trading