A lot of traders do not believe in stop loss placement.
Some believe in mental stop loss placement. meaning that when they feel that a trade is not going their way, they will then cut it off.
That is so terribly wrong. Stop loss placement is one of the most crucial key if you want to make forex trading profitable.
Another mistake traders make is that they shift their stop loss. They shift it backwards, thinking that the trade will just go back a little more and will come back their way. And sure enough, most of the time, they took more losses than they would have if they stayed on their initial stop loss.
In the chart above, is an example of the importance of stop loss placement.
Usd chf h4
In the highlighted box, thats a pin bar. When some guys see this pin, they will naturally take it down and the ideal place for their stop loss is the horizontal line in orange that is drawn.
Scenario A) if the trader did not place a stop loss, or a mental stop loss – look at how high the usd chf pair went upwards. Their account will be blown or had a huge huge loss.
Scenario B) Trader shifted their stop loss backwards from the initial orange line thinking that the trade will go back down. They would have taken a huge loss as the move went up terribly fast and would have gotten a big blow to their account
Scenario C) Trader sticked to their initial stop loss, they would have just gotten a standard loss of the % risked in their account, based on their money management. And this is just one of the trades among the plenty, therefore this loss is not a big deal.
I hope you guys can see the importance of placing and sticking to your stop loss. Or else your account will be blown before you know it.
Ezekiel Chew
Asia #1 Forex Mentor from www.asiaforexmentor.com

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EUR/CAD – D1 trend is oscillating and we look for new uptrend to form over the next two days, good upside potential

GBP/CAD – D1 trend is also oscillating on this pair and we are looking for an uptrend to form, set buy alarm at 1.5670 which is the first level of resistance. It is not trending yet but it is on watch with the other CAD pairs, good upside potential.

AUD/CAD – D1 trend is oscillating and once again we are looking for the uptrend to form, set buy alarm at 1.0220, upside target is 1.0480.

USD/CAD –is also forming a strong uptrend but is very choppy.

CAD/JPY – strong downtrend is forming and this pair is running out of support, it was spiking though support in the Asian session

When the price alarms hit verify any buys or sell entries with The Forex Heatmap ™ and look for CAD weakness or cross currency strength or both.

______________
Best Junior ISA

Please, let me know hot to activate the use of the top 10 strategies in the generator.

Second video on this page multiterminal.net/vd2.html
Very good forex account copier explanation.
I have tested several, but best one - copier based on mt4 api.
I've forgot url for video:  copying speed comparison  for copier based on api and scripts. If I found, I will post too.

In the example, I have added NetBalance (being the default and working exacly the same as the current version), and WinLossRatio.

I believe that there are still a number of areas that I would need to change to make this work fully (at present the Top 10 UI is ordered by NetProfit only) and I not even looked at the OOS logic, although the basic ranking and ordering logic appears to be working as expected (at least in my limited tests at this stage).

A couple of questions for the users out there:

Q. I believe that this will be a useful feature for my work, what do others think?

Q. Any ideas about what other calculations would be useful (other than NetBalance and WinLossRatio).

Q. I am not convinced that 'Ranking' is the right word ... any suggestions?

Regards

ab

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I am new to use FSB. I have a scalping strategy to trade that I prefer. It is more reliable for me. But it has a one bad side. I have to wait all around the day in front of the pc to take that signal. So I want to create an EA with FSB. In my strategy I want to take only one trade for each condition.

my strategy is 2 EMA crossover..........
---------------------------------------------------------
when....
BUY = fast Ema > slow Ema
SELL = fast Ema < slow Ema

take only one trade for each condition

how can I do it....?

Also any idea why in the plan attached, when i decrease the spread from 2.00 to 1.40, my profits fell? I know the number of winning trades fell but i'm not sure why.

http://forexsb.com/forum/misc.php?actio … =4544t2957

FOREX MARKET

Markets are going to remain nervous for some more time as S&P ratings agency punished nine eurozone countries with downgrades and to striped France and Austria of their triple-A ratings. Even though S&P said that Germany’s rating is in excellent condition, the downgrading is likely to have direct consequences for country. EUR/USD had fallen sharply after the statement. FOREX MARKET investors should be cautious as the bad news will have more impact on the financial markets.
S&P said “We have lowered the long-term ratings on Cyprus, Italy, Portugal, and Spain by two notches; lowered the long-term ratings on Austria, France, Malta, Slovakia, and Slovenia, by one notch; and affirmed the long-term ratings on Belgium, Estonia, Finland, Germany, Ireland, Luxembourg, and the Netherlands. All ratings have been removed from CreditWatch, where they were placed with negative implications on Dec. 5, 2011 (except for Cyprus, which was first placed on CreditWatch on Aug. 12, 2011)” in its statement. We believe that the negative outlooks for virtually every eurozone country suggest that the debt crisis will remain an issue for the forex market throughout this year.
Forex Market: Mass Ratings Downgrades Fuel Debt Crisis Concern

EU leaders have to act faster and regain investors’ confidence in order to control the ongoing crisis. However, it seems that eurozone chiefs will continue to rely on state level solutions like fiscal union and debt brake. In addition, the downgrade of the nine countries will increase pressure for all of the eurozone countries to solve their budget and debt problems. Some forex market investors think that relations among the eurozone members are likely to become more difficult after this point.
Forex market has been expecting downgrades of France and other European countries, but it is hard to tell how much the downgrades have already been priced in. director of the European Centre for International Political Economy, Fredrik Erixon said “The U.S. is still rightly seen as a safe haven. The U.S. is a big liquid economy with a strong tradition of honoring its debts in modern times and a central bank pledged to take action if needed. It’s different with France in the sense that they cannot rely on strong central bank policies”.
Forex Market: Mass Ratings Downgrades Fuel Debt Crisis Concern

Forex Market
What we can take away from the above analysis is that. With more possible downgrading to come on other European Countries. We will remain bearish when trading the Eur. And to look for opportunities to enter on rebound of the Eur/Usd.

Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

It’s worth closely examining this debilitating trader issue as it inevitably strikes most traders at some stage in their trader metamorphosis. However, looking for remedies is not a simple process, given that it’s generally the complex issues of the traders own personality that are the root cause of the problem.

The most common fear preventing pulling the trigger is position size. The stress of potentially losing money can lead to ‘trader paralysis’. The remedy is simply, reduce your size to a position where you feel more relaxed. For example, if you have an account of €10,000 then instead of risking the recommended 1-2% of the account per trade, choose a lower figure, perhaps 0.3%, bearing in mind that at this level the returns will lower and you may struggle to build any critical mass to your account. However, the losses will also be proportionality reduced. Once your confidence is restored slowly build up your risk gradually, perhaps adding 0.2% more risk per week/month over a set target/period of time.

There is another slightly more complex issue that can prevent pulling the trigger and it relates to not having enough confidence in your edge. That lack of confidence could also directly relate to an overall lack of experience. There can be times were you have absolute confidence in your strategy, (you’ve back and forward tested it to profitability) but given your lack of experience you still don’t have the ‘experience confidence’ to follow through. What do we mean by ‘experience confidence’?

There is no replacement for ‘doing’ in our industry, it’s impossible to put a figure on how many trades you must have executed in order to have gained the ‘right’ level of experience to lose your fear, particularly if you favour swing trading versus scalp trading. Perhaps a measurement of time or hours of immersion would be more appropriate. What is undeniable and frustrating in equal measures is that trading is not a profession that arrives easily as a skill, we have to exercise incredible patience to become proficient. The emotional intelligence required is considerable.

It’s quite a common experience for your understanding of; the market, your edge, your overall market intelligence to be ahead of your experience, you get ahead of your own learning curve. It’s actually not a fault, on the contrary it displays your level of overall dedication. Similar to a superb youth footballer at academy level, you may have all the raw skills, but lack the unconscious competence that can only arrive through playing the game, which in our situation is the experience of market participation.

Source: FX Central Clearing Ltd, (http://blog.fxcc.com FXCC Blog)
URL: http://blog.fxcc.com/f-e-a-r