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Hi Saver0 and gg53,
I’m quite interested in your fractalArrow project, are you still using it or have you developed a new version?
saver0 I’ve done similar experiments to you and also found that I would get 50% wins and losses nomatter what TP and SL I set, increasing the limits just increased the time trades would run for.
I’ve also discovered that using a SL is a sure way to give the broker your money. As I’ve learned more about FX I’ve become more disturbed by the fact that brokers operate dark markets and they could even just be showing you any price to justify closing your trade in loss. For example if you set a 1 pip TP and 1 pip SL, do you think you’ll have 50% winners and 50% losers? (not considering the loss of spread) no way, the broker will TAKE your cash! Almot every time they’ll say “oops the price moved against you”. It gets harder for them to justify that with a larger SL, but still. Putting your SL into the broker is like showing your hand in poker. And I don’t believe claims about brokers being ECN and STP and even ones like IBFX and so on claiming not to trade against their customers… I’d rather not give them that opportunity.
So what I’ve been thinking for a while, is I’ll choose my own random SL’s (if I choose to use them in a given strategy) and I’ll send the SL through when I’m ready (automated). There’s little point in hiding your SL if you make it 10 pips every time. But then again I wouldn’t expect they’d have algorithms to predict when you’re going to close a losing trade that doesn’t have an SL set. Or do they >:) lol
I’ve also had the sense that doing something like your 1 pip idea, with no SL would work. However the problem is you might find yourself on the wrong side of a monster trend and blow your whole account. Or find yourself having to close one trade (manually) in loss for hundreds of trades worth of profit. Which might be okay, it depends how often you profit. But the other problem with the 1 pip idea is you’d be stuck not trading for a long time while you’re waiting out your loss, and potentially paying swap fees. (haha you could only trade in the direction where you’ll make positive swap)
