billv » Fri Dec 21, 2018 5:32 am wrote:Ok It works now
This must have been a leftover restriction from the old days when Steve was tough.
He is softening up slowly
The better that contributions here become, the softer I become. My attitude to 'contributions' and their quality are linked.
Thanks for sorting this out Tommaso. Much appreciated.
Read the effing manual, ok?
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
I still suffer from OCCD. Good thing, really.
Anyone here feeling generous? My paypal account is always in the market for a tiny donation. pianodoodler@hotmail.com is the account.
To see The Weekly Roundup of stuff you guys might have missed Click here
My special thanks to Thomas (tomele) for all the incredible work he does here.
This update was required because I needed to know the combined lot size of all the open trades so that I can get an idea of the account's exposure and estimate how big market spikes or crashes the account can handle.
People have their own comfort zone but as a general rule of mine,
I want my accounts to be able to handle a sudden 1000 pip move against all of my open positions.
I want such a large buffer because a market spike is likely to trigger even more trades
and the situation could quickly get very dangerous for the account.
Rough Example of the 1000 pip rule:
If the total combined lot size is 1 lot and IF let's say the $ value of the 1 lot is approx $10,
then in order to sustain an 1000 pip move, I should have at least 10K of equity in the account. Note: In practice, a spike is not going to affect all my positions negatively , plus we will run out of margin quicker than we will run out of equity but this is the rough calculation I do in my head.
Therefore, if in this example my equity is less than $10K then I would have to do one or more of the following:
1. Hedge some of the trades
2. close some of the trades
3. Close pending orders which are not needed for Break Even.
(Some pending orders are located far away from my break even point and IMO it is good practice to close those anyway because if the spike is bidirectional, newly triggered trades which are in profit can become a liability)
4. top up the account with more funds
5. Do nothing and keep monitoring the situation
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And here is an idea for EA traders.
You could use the +ve or -ve SINGLE CURRENCY RISK number as a currency filter
For example, you could tell your EA that when the +ve or -ve number reaches 4 or -4 to prevent trading that currency in any new pairs.
