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anatrader · 11-11-2002, 07:01

Hi mccarthy,

I am no expert but here's my thought on the subject...

Seeing as you're in a demo here's my suggestion. Keep a journal of all your trades making sure you keep track of worst and best. For example if you buy at .9960 and it goes as low as .9932 then as high as .9994, keep all those figures in a spreadsheet. Then for each trade calculate worst pips, best pips and actual pips. This will then allow you to play around with different stop losses so as to maximise your profits. If you find that your system finds you winners a large percentage of the time you may well be able to put a 40 pip stop for 20 pip gains on the other hand if your hit rate isn't so high you may have to reduce your stop. In any case if you set up your spreadsheet correctly, once you've accumulated some data, you'll get a good picture.

Hope this helps.

11-11-2002, 07:01	#3 (permalink)
anatrader level 1 Join Date: Nov 2002 Posts: 8 Rep Power: 0	Hi mccarthy, I am no expert but here's my thought on the subject... Seeing as you're in a demo here's my suggestion. Keep a journal of all your trades making sure you keep track of worst and best. For example if you buy at .9960 and it goes as low as .9932 then as high as .9994, keep all those figures in a spreadsheet. Then for each trade calculate worst pips, best pips and actual pips. This will then allow you to play around with different stop losses so as to maximise your profits. If you find that your system finds you winners a large percentage of the time you may well be able to put a 40 pip stop for 20 pip gains on the other hand if your hit rate isn't so high you may have to reduce your stop. In any case if you set up your spreadsheet correctly, once you've accumulated some data, you'll get a good picture. Hope this helps.