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Account disabled at 4.67% !!!

 
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caflischmartin

Account disabled at 4.67% !!!

closing positions to avoid a minus 5% to be able to continue trading with the result of not being able at all to open even a 0.01 Lot position again,this is very annoying.
It should really close at 5%,not earlier,specially when the price is not moving fast.
I dont see this as fair

Thu, 03/21/2019 - 5:09am
 
KevinBanks

i would trade on your sim accounts.

 
FXGold54

All due respect, why are you anywhere near the 5% lockout to begin with?

What probably happened was that your positions reached negative 5% but when they were closed was only negative 4.67%

Allen

 
robunited

@caflischmartin

I would categorize this as a very good learning experience and no one else was wrong other than you.

"It's not fair ..." ... well, there are very fast short spikes, slippages, temp spread increases etc. All sorts of Risks.
They always will happen and we have to learn how to deal with it.

These you can avoid, actually 'have' to avoid, by adjusting your Risk parameters accordingly.

i.e. Total Risk/Daily Return: No larger than 2.5 or 3%

I would suggest to make this a rule in your trading plan and adjust your Strategy & Money Management.

A good opportunity to experience and take-on by heart ;-) All good

 
Barrnton

I've built into my strategy the risks of the platform. One is in fast markets the loss of communication with the liquidity provider, resulting in extreme slippage. I hit the 2% rule twice due to platform outage slippage. On another occasion a fast market (spike) take profit order wasn't executed until after the spike was over and after the platform can back online.

I've compensated by avoiding the Yen which is volatile enough already and by reducing my news event trades.

But I agree w Allengoldatty, best not to trade anywhere near 5%. Better to shut down for the day and do something else that you enjoy!

 
robunited

@Barrnton

"I've built into my strategy the risks of the platform. One is in fast markets the loss of communication with the liquidity provider, resulting in extreme slippage."

Yes, you will have to.

'Trading disabled', that's also another one of many on the Risk list, which you have to calculate in beforehand.

What does Shawn always say, don't trade/risk more at one time which you are not easily being able to recover in the next session ...

 
Barrnton

robounited.

Yep! Recovery is key.