IB price feed was lost just after the close of the third trade. I allways use hard stops, at -4, -5 pips (with 1 or 2 exceptions per month, which inevitably become the mistake of the month, Murphy's law!). So I am not afraid of connection drops and freezes anymore. A friend who likes "mental stops", lost 3000 euros in one trade. He lost connection while open and then price went 100 pips against him...
Thursday, November 12, 2009
Connection lost
IB price feed was lost just after the close of the third trade. I allways use hard stops, at -4, -5 pips (with 1 or 2 exceptions per month, which inevitably become the mistake of the month, Murphy's law!). So I am not afraid of connection drops and freezes anymore. A friend who likes "mental stops", lost 3000 euros in one trade. He lost connection while open and then price went 100 pips against him...
This is usually why we are better off with SL, but of course, it’s not possible to do it with 2-3 pips, but still if we get opportunity then always better to be using SL. I do that only and I get great help with OctaFX broker since they have magnificent 50% rebate on all trading orders, so that works nicely for me and I can trade without taking any major risk at all, so that really makes me comfortable and relaxed with the work.
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