Automated Trading Championship 2012: Championship's Eleventh Week Minutes
hi
I think
This Championship gave us a good lesson.
1 .Do not use any indicators.
2 .Do not use any S/L and T/P.
3 .Do not use Only one Currency.
4 .Do not trust Only Backtest.
hi
I think
This Championship gave us a good lesson.
1 .Do not use any indicators.
2 .Do not use any S/L and T/P.
3 .Do not use Only one Currency.
You can dont use TP, but not using SL is equal to committing suicide. Unless you are watching your trades 24/5. Adverse reaction from the market, can quickly make your acct get a margin call, at this point, all open trades were be closed out forcibly. You also have to check your broker's stop out percent, eg, broker may specify stop out=50%, this meant that, eg, if your available margin is USD5000, and an open trade is now negative of >=USD2500, this trade would be closed out by your broker automatically without notifying you!
For tp management, you can either choose the trailing stop loss feature and enable it, or you can write or purchase an ea that allows you to set the trailing stops and preferably allow step increment. MT4 trailing stop loss has no increment feature, that is if you set eg, 50pips trailing SL, the SL will "trail" behind the current price by 50pips. With step increment, eg, you can set eg, 5pips then MT4 will be forced to set SL again only when price is 55 pips. With current MT4 trailing SL, when price moves (which can be nano secs), SL is moved again according to the trailing you set against price.
eg, Your trade was executed at BUY eurusd @1.31256, then when bid is 1.31756, SL is set at 1.31256
When bid is 1.31758, SL is set at 1.31258, so forth
To avoid the re-calculation for every pip, a step increment may be more useful.
From my own experience, trailing SL can stop out your trade before you actually reached TP. It is better to control TP and SL and set this as hard stops. Always check your trades (its easier if you are day trader like me, just check every morning) then reset your SL or TP accordingly.
You can dont use TP, but not using SL is equal to committing suicide. Unless you are watching your trades 24/5. Adverse reaction from the market, can quickly make your acct get a margin call, at this point, all open trades were be closed out forcibly. You also have to check your broker's stop out percent, eg, broker may specify stop out=50%, this meant that, eg, if your available margin is USD5000, and an open trade is now negative of >=USD2500, this trade would be closed out by your broker automatically without notifying you!
For tp management, you can either choose the trailing stop loss feature and enable it, or you can write or purchase an ea that allows you to set the trailing stops and preferably allow step increment. MT4 trailing stop loss has no increment feature, that is if you set eg, 50pips trailing SL, the SL will "trail" behind the current price by 50pips. With step increment, eg, you can set eg, 5pips then MT4 will be forced to set SL again only when price is 55 pips. With current MT4 trailing SL, when price moves (which can be nano secs), SL is moved again according to the trailing you set against price.
eg, Your trade was executed at BUY eurusd @1.31256, then when bid is 1.31756, SL is set at 1.31256
When bid is 1.31758, SL is set at 1.31258, so forth
To avoid the re-calculation for every pip, a step increment may be more useful.
From my own experience, trailing SL can stop out your trade before you actually reached TP. It is better to control TP and SL and set this as hard stops. Always check your trades (its easier if you are day trader like me, just check every morning) then reset your SL or TP accordingly.
Good one ymleong,
No indicator and no S/L or T/P is a stupid and ignorant.
You can dont use TP, but not using SL is equal to committing suicide. Unless you are watching your trades 24/5. Adverse reaction from the market, can quickly make your acct get a margin call, at this point, all open trades were be closed out forcibly. You also have to check your broker's stop out percent, eg, broker may specify stop out=50%, this meant that, eg, if your available margin is USD5000, and an open trade is now negative of >=USD2500, this trade would be closed out by your broker automatically without notifying you!
For tp management, you can either choose the trailing stop loss feature and enable it, or you can write or purchase an ea that allows you to set the trailing stops and preferably allow step increment. MT4 trailing stop loss has no increment feature, that is if you set eg, 50pips trailing SL, the SL will "trail" behind the current price by 50pips. With step increment, eg, you can set eg, 5pips then MT4 will be forced to set SL again only when price is 55 pips. With current MT4 trailing SL, when price moves (which can be nano secs), SL is moved again according to the trailing you set against price.
eg, Your trade was executed at BUY eurusd @1.31256, then when bid is 1.31756, SL is set at 1.31256
When bid is 1.31758, SL is set at 1.31258, so forth
To avoid the re-calculation for every pip, a step increment may be more useful.
From my own experience, trailing SL can stop out your trade before you actually reached TP. It is better to control TP and SL and set this as hard stops. Always check your trades (its easier if you are day trader like me, just check every morning) then reset your SL or TP accordingly.
hi my friend thnx for replay
You have use SL and TP ,But not as obvious. You should hide into program.
The program is controlled.
Good one ymleong,
No indicator and no S/L or T/P is a stupid and ignorant.
Hi Again Phi.nuts
Thanx for This comment "No indicator and no S/L or T/P is a stupid and ignorant."
But . Indicators are excellent for history data(2008,2007,...) not for real data and future.
If you've been following the championship.You've seen the top that only work on indicators. Unfortunately get a good result.
We know they are a professional programmer.
Hi Again Phi.nuts
Thanx for This comment "No indicator and no S/L or T/P is a stupid and ignorant."
But . Indicators are excellent for history data(2008,2007,...) not for real data and future.
If you've been following the championship.You've seen the top that only work on indicators. Unfortunately get a good result.
We know they are a professional programmer.
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Automated Trading Championship 2012 is coming to an end, and we present you some statistical data on the eleventh week in our Championship Minutes! The main event of the week is "restart" at GBPJPY. On the contrary, USDJPY still shows signs of "stagnation".
Here you will know about the distribution of the number of deals, profits and losses at each currency pair, as well as the average return of each trading deal.
The full text of the news can be found on the Championship's website - Championship's Eleventh Week Minutes.