Re: Hannah's Trade/Portfolio Management Tips
First of all, if you have been reading my post, you probably would know by now that I approach FSB from a trader's perspective.
In another words, I use FSB as my trading tool to improve my trading skills and thereby make better and better EA.
if you are hoping to have a tools that can provide highly profitable EA without much hard work, then you will be in for a nasty surprise. But given adequate dedication and thinking, you will able to develop better EA, which otherwise would be tough to do so on your own.
HOW TO SET "OPTIMAL" STOP LOSS
In my earlier post, I did an experiment, I use the "deciding" factor rule such as H1 or H4 and use Close and Reverse as my closing and then I use all the 112 combinations available (such as the Fast Method, Slow Method and Base Price) and I test run these 112 EA on a demo account.
The original Stop Loss (SL) I use was 1000 (was a mistake, I thought I set it to 500).
Using Fx Blue service to collect my trade statistics, I can then able to understand whether I've set too high SL or too low SL.
Here is an example if you want to understand further.
1. Click on the link https://www.fxblue.com/users/2089513347/stats
2. go to "Strategy" tab
3. Double click on "net profit" to see the best EA
Now scroll to the right and look for
1. Ave Win
2. Ave loss
3. Worst Trade
So if here you can see that
1. Ave Win is about 450 (only those profitable EA, I don't count those unprofitable EA)
2. Ave Loss is about 350 (for those profitable EA)
3. Worst Trade without SL is 480
Worst Trade when stopped by SL is 1000
So from the statistics above, I realised for my profitable EA, SL 1000 is too high. if I were to set my SL between 250 to 300, I may reduce my ave loss further.
Hence, when I've finished testing this group of EA, I'll then shortlist the profitable ones and create 2 groups, one with SL 250 and another with SL300 to see which has better results (then the original and between both of these groups)
Now if you happened to see that your SL is mostly around your SL setting, that means most of your trade are stop out by SL and if your Pf is low then it may means that you have set too tight SL and you may want to consider increasing your SL to give your EA more "trading space".
I have all read, yes.
But i am no Coder, i have no Experience with coding, but 13 years with manual Trade in CFD´s
In Forex Autotrading i since last year...for me it is very good, from my Ideas make a EA.
I have the Idea, when i serach Strategie with big Spread and it is good, then when i trade with low Spread, i think the Results are much better.
I will test it.