Core Rule: Fixed Pip Stop Loss

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TradingHeroes
Posts: 76
Joined: Wed May 04, 2022 9:45 pm

Core Rule: Fixed Pip Stop Loss

Post by 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
Screen Shot 2022-12-01 at 11.49.43 AM.png (111.63 KiB) Viewed 6561 times
Long trade stop
Screen Shot 2022-12-01 at 11.49.34 AM.png
Screen Shot 2022-12-01 at 11.49.34 AM.png (110.87 KiB) Viewed 6561 times
eeliashar
Posts: 1
Joined: Fri Jun 09, 2023 7:37 am

Re: Core Rule: Fixed Pip Stop Loss

Post by eeliashar »

thus is a great idea but i would suggest using high or low respectively instead of close
mweidle73
Posts: 2
Joined: Tue Apr 11, 2023 7:30 am

Re: Core Rule: Fixed Pip Stop Loss

Post by 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.
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