Lets Say you Have two trades open AUD USD AND AUD CAD .. THE Stopl loss is 200 pips . the percentage pf losses in Usd currency may be aproximately % 2-2.4 usd account balance so 22 to 25 leverage of balance and risk is equal to %50 draw down. If you have 1:500 leverage and risk % 25 or %40 of your account you are less than MARGIN CALL and lose nearly %90 of your balance in any brokerage firm. but it is like a gamble over %33 of risk i think if 3 trades opened here and exceed 200 pips draw down.Doug I realized started with %50 risk and more )) at the start of channel trader pro now he is at a level of %3.5 to %8 risk . so he decresed risk if you check all 400 trades it is clearly seen.😎😁
Thanks for the replies alimertin.
I've currently got my mine set to 50% drawdown as I said. However, I have set the 'CalculateLotsMode' set to 'Percent from balance' which I have then set as 0.5%.
I haven't specified a max number of open orders - the default is 1000. Does this mean as it currently stands, I COULD (in theory at least) have 200 open orders and wipe out my account (as each order is worth a maximum of 0.5% of account balance)? The manual didn't mention anything about changing the number of open orders so I just left it alone.
Am I right in assuming that the EA's stop loss will close the trade when it has gone so far in the wrong direction that my '0.5%' has been lost?