Your setting is the default setting. It is the progressive lot size, the more money in the account the higher the lot size will be. 2% is acceptable. The downside of this setting is if there is a pattern with a very big PRZ then the SL will also be at big distance and the possible DD would be big as well. If you want to be sure that your DD is never more than 15% then you would be better with the 3rd option 'Risk'. It is also a progressive lot size but you control the DD. The downside of this setting is that if you have a very small PRZ then the SL will be at a very short distance as well and it can be hit more easily and you lose 15%. With an account size as you have it would perhaps be better to go for the 3rd option 'Risk'. Run it in the Strategy Tester and you will see that the money curve will be much smoother.
Bottom line is that it all depends on your trading style, I mean the Risk you are willing to take, that's all up to you. Btw, is that a real money account? Again a nice profit today. You may want to play it save and close the trades before the WE. There is also a setting to do that automatically for you: 'CloseBeforeMarketClose' and 'TimeCloseBeforeMarketClose'. Many Green pips, Walter https://harmonicstrader.com/
You can set that to 'true' to set the hard SL = soft SL. Soft SL: hourly candle must close beyond to close the position. Hard SL: well, that's a real SL and the position will close at the touch ;) Again, that's up to you.
ok ill take ur advise.. IMO softSL is the applicable SL for todays market condition. in the ancients days of forex like 3-4 years ago the market respects the Supply and demand levels but NOW Banks control s the market to go beyond thes levels to hit all the SL's of the newbies following the Suppdem stragies before it goes back. this is one of the reason some my students and other forex traders i encounter got burned out and think s they will ever succeed in forex hehe
Makes a lot of sense to me. But HarmonicsTrader puts his SL a number of pips above/below the PRZ so has nothing to do with supp/dem: see User Guide page 3 ----quote---- SoftStopLossAddPoints Points (10 points is 1 pip) added to bottom (bullish pattern) or top (bearish pattern) of PRZ to place Soft Stop Loss. If the hourly bar closes past this Soft SL, the positions will be closed. A little red horizontal bar will be drawn at that point. ----unquote-----
There is a Support & Resistance Filter but it is turned off by default, see setting 'ModeSuppResFilter' I implemented this filter on request of a customer and it is not been back-tested for results or optimization.
I didn't save the detailed report but you can easily do a back test yourself. If you want a very detailed report then set 'Log' = 'true' Every trade will be logged and statistics will be generated at the end of every session. The main purpose is to analyse results after a Strategy Tester run. The generated log files are saved in YourMT4Platform/tester/files when the Strategy Tester is used or YourMT4Platform/MQL4/files when used on a demo or live account.
That would be 2% total Risk for the 3 trades together. From page 5 of User Guide: Risk Risk % of account equity per found Pattern (distance from opened positions to Soft SL). So the Lot Size is inversely proportional to the size of the PRZ. This is very convenient to reduce the risk in case of a pattern with a very big PRZ. Risk can be approximate or strict according to the next setting “StrictRisk”. Normally HT opens 3 positions / pattern. If with the minimum Lot size the risk is still too big then HT will reduce the number of positions to comply with the Risk setting.
Looks to me that you are using the 3rd money management setting 'Risk'. Then the Hard SL must be = Soft SL if using the 'StrictRisk' = true If the user doesn't do this then the EA will do it for him and he gets this Alert to tell him what is going on. So just follow the instructions in the Alert to avoid future alerts. More info on page 5 of the User Guide.
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UPOZORNĚNÍ NA VYSOKÉ RIZIKO: Obchodování s devizami přináší vysokou úroveň rizika, které nemusí být vhodné pro všechny investory.
Páka vytváří další rizika a ztráty. Než se rozhodnete obchodovat s devizami, důkladně zvažte své investiční cíle, úroveň zkušeností a toleranci vůči riziku.
Můžete přijít o část nebo všechny své počáteční investice. Neinvestujte peníze, které si nemůžete dovolit ztratit. 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.
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