Disliked{quote} Mmmm. 4 core pairs (EURUSD, EURJPY, GBPJPY and GBPUSD) x 4 SL per pair, using a position size of 2% advocated by Udine = 32% of your account wiped out in 1 day. Seems a bit steep to me. The idea to stop after "x" stoplosses stems from the reasoning that a trader needs discipline. This means also discipline to be able to stop trading when things are not going as expected. I would suggest to stop indeed after a total of 4 stoplosses, even on demo. This, until you have proven to yourself that psychologically you are on the right side of the...Ignored
Totally got your point regarding the discipline. I am completely "mechanical" in that sense. Currently in the process of "making the strategy mine" and once I feel that I've fully digested it, then I plan to start live account with only 100 USD.
BTW, another clarification:
QuoteDisliked13. Stop trading after reaching daily target
I understand that the daily target as per Udine is 5pips on EUR/JPY and 5pips on GBP/JPY. If my first two trades close at SL this would mean I am at -20pips, this it its turn would mean I need to make 4 successful trades to return to the starting point and then make 2 more successful trades to reach the daily targets. Is this correct as per the strategy?
Lots of TPs to all!