Core Rule: Fixed Pip Stop Loss

[TradingHeroes]

Alright, I'll kick things off here.

This is a good rule to use if you don't know where to start with a stop loss and just want to use a fixed number of pips. It's generally not a good idea to use a fix pip stop with most strategies, but this can be a quick and dirty way to start testing.

You can do a similar thing for a take profit.

Short trade stop

Screen Shot 2022-12-01 at 11.49.43 AM.png (111.63 KiB) Viewed 11972 times

Long trade stop

Screen Shot 2022-12-01 at 11.49.34 AM.png (110.87 KiB) Viewed 11972 times

[eeliashar]

thus is a great idea but i would suggest using high or low respectively instead of close

[mweidle73]

What I don't like about that rule is that it does not account for spread, which is especially problematic for smaller stops.

Any idea how this can be achieved? I had not much luck while using the spread variable so far maybe due to a bug I had triggered. Don't know for sure.