Cutting your losses will be the most important rule in trading Forex. It is best to have this rule out of your hands and built into the trading platform, trading system, or software that runs out of reach from the trader. It is the easiest software to use and to implement but rarely used by traders. Whether you trade with Forex Equity Protection or not, it is not debatable in my mind.
How to use, You select your maximum open drawdown limit and the software will close your open positions once you have reached your limit. It is the same concept of using a stoploss on every trade but allows you to save your risk capital at a predefined level regardless of your position size and how many orders you may have open. From my experience, it is easier and faster to trade with a Fat Finger than adjust stoplosses based on your position size and number of open orders.
Enjoy the freeware.
This trading account includes a 1% Equity protection. If the Equity Protection is reached, all trades are closed and trading stops for that day.
I trade within a 1% Drawdown limit therefore I can never lose more than this amount. Since I trade within this tight risk criteria you risk 5 times more to escalate your gains 5 time my return (if thats what you need). I am happy with 3-5% a month and anything above this amount would be a tremendous achievement.
I believe that any investment should be focused around Risk Vs Reward and any system that doesn't fall under a positive reward for an equal risk should be avoided. Sign up here - https://redrhinofx.com/mt4-signal/
This account is on cTrader Trading platform and I would like this account to be my master account but I can't find a trade copier. I would like to use SimpleTrader but their system doesn't work yet. I did find a trade copier for MT4 that can send trades to cTrader platform and I will use this to bridge my two accounts together. The software is free and located - https://ctdn.com/algos/cbots/show/515
Now offering Automated signals from two trade copiers.
RRFX: In-House Trade Copier for the fastest execution and one Network trade copier using FXblue Trade copier. The in house trade copier does not require you to use VPS or keep your platform running and the cost is only 99.
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.