well on this account it just happened. Its the EURUSD series that hit its SL leading with 35% of the account Balance loss. On other accounts, GBPUSD SL was also hit earlier this year with another 35% Balance loss. This is based on OOTB settings, which have no protection besides this 35% SL per currency pairs (mind you). There are several .set available, but hardly with the results of the OOTB. Now this EA builds-up series of trades upon missing previous trade TP using a multiple. Kind of a martingale. It actually uses virtual trades before placing the first trade to improve the odds and looks for optimized entry points. It has been very successfull at doing so in a low inflation low rate world. Only when the market price reverses so much it can close the series. So since March 16, when Fed started to hike its rates due to inflation, currencies adapted with 400-1000 pips trends which missed pullback to close the series. Next Fed hike is for May 6, but then BCE, BoE, BoJ, etc are also all adapting their rates and QE strategies as we speak.
@OlivierMahloc Thank you for your very informative response. So in short, the OOTB settings needs to be looked at in order to not take such HUGE losses. I Have been trading robots for years and this is a huge loss for 2 days.....What do you think?
Multiple Sources Of Income is the HOLY GRAIL to really making money!
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.