Pip Cop - Forex Robot Reviews - View Single Post

**jerrycollie** · 2009-04-19, 08:45 PM

Hi Pipdetector, Thanks for the reply. I thought I was alone with no trades.
You and rsmereka were discussing Fapturbo scalping 6 pips vs a stop loss at over 100. Yeah, it is crazy. I know they say it was optimized, probably on a back test. Nevertheless, every trade is different; since the chart patterns are always changing.
After suffering 3 bad losses of about $150 each in a row, I now do the following: I check out the trend in a longer time frame, go into the robot's property page and set the Long/Short button to match the trend. If the robot is trading and the trend changes, I manually close the trade. After Fapturbo has made a trade, I check out longer time frames, looking for support/resistance. I reset my stop loss manually just beyond support or resistance, depending on whether I am long or short. If the price has already blown through S/R, I manually close the trade. Yeah, I know, I might as well be trading on a purely manual basis; but I have to work for a living; I can't sit home and watch my screen all day. Good luck!

2009-04-19, 08:45 PM	#51 (permalink)
jerrycollie Donating member Posts: 86	Stop losses Hi Pipdetector, Thanks for the reply. I thought I was alone with no trades. You and rsmereka were discussing Fapturbo scalping 6 pips vs a stop loss at over 100. Yeah, it is crazy. I know they say it was optimized, probably on a back test. Nevertheless, every trade is different; since the chart patterns are always changing. After suffering 3 bad losses of about $150 each in a row, I now do the following: I check out the trend in a longer time frame, go into the robot's property page and set the Long/Short button to match the trend. If the robot is trading and the trend changes, I manually close the trade. After Fapturbo has made a trade, I check out longer time frames, looking for support/resistance. I reset my stop loss manually just beyond support or resistance, depending on whether I am long or short. If the price has already blown through S/R, I manually close the trade. Yeah, I know, I might as well be trading on a purely manual basis; but I have to work for a living; I can't sit home and watch my screen all day. Good luck!