• Registered: 2007-09-03
  • Posts: 43

Topic: basics

Sorry for a few basic questions? I am new to forexsb.
1. How do I set the initial account size?
2. How do I set the lot size?
3. How do I set the stop loss?
4. Can I set a dynamic stop loss as in Turtle rules?
5. Is a turtle trading strategy tester available?

Thanks for now

Regards

Vivek
Knowledge Facilitator
PSG Institute of Management
India

  • Registered: 2007-01-01
  • Posts: 34

Re: basics

FSB represents the results in pips and it doesn't need of initial account.
1) - N/A
2) - N/A FSB opens 1 lot only. It can add to the position (Same dir. signal - Add)
3) - Use "Stop Loss" indicator
4, 5) Describe the strategy and somebody can help

  • Registered: 2007-09-03
  • Posts: 43

Re: basics

Turtle strategy
1. calculate 55 day Highs and lows and N(exponential acerage of last 20 days range). Unit=1% of account/(N x dollars per pip)
2. If price breaks out of 55 day high, enter long one unit.(Conversely if price breaks out of 55 day low, enter short one unit)
3.After entering long first time, add additional units every time price exceeds 0.5 N
4. If after enteriing long position, price goes below 20 day low, exit position(For short trades exit if price goes above 20 day high)
5. Place stop loss at 2% of account size, so number of pips depends on account size
6. Every transaction to be one unit