Create and Test Forex Strategies
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| eas-guide:strategy-properties [2020/12/09 15:12] – Ilan Vardy | eas-guide:strategy-properties [2020/12/09 15:33] – [Protections] Ilan Vardy | ||
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| **Stop Loss** is a protection in the event the market moves against our position. It is always placed below a long position or above a short position. You can set the Stop Loss to Fixed or Trailing. | **Stop Loss** is a protection in the event the market moves against our position. It is always placed below a long position or above a short position. You can set the Stop Loss to Fixed or Trailing. | ||
| - | Without a Stop Loss, you have no control over the losses. No matter what trading strategy you have decided to use, money management is key to your trading success. It will help you stay longer | + | Without a Stop Loss, you have no control over the losses. No matter what trading strategy you have decided to use, money management is key to your trading success. It will help you stay in the markets |
| - | **Take Profit** is a protection that will close a position on profit after the market has moved in the direction that opened the position in. Take Profit is based on a predefined number of points. | + | **Take Profit** is a protection that will close a position on profit after the market has moved in the direction that opened the position in. Take Profit is based on a predefined number of **pips**. |
| Remember that you set the protection values in pips. Be careful with that because a pip has a different value depending on the number of decimal digits in the quotation of your broker. | Remember that you set the protection values in pips. Be careful with that because a pip has a different value depending on the number of decimal digits in the quotation of your broker. | ||