TopicMegaDroid Trading Robot - A Look at the Popular Forex MegaDroid Robot
On the other hand, sometimes you will find that Bitcoin Blackbook Review your opinion of the FOREX market may be time based. Perhaps you think that the market is about to make a big move as the Asian session begins. If the Asian session begins and after an hour nothing has happened, then you can take that as a failure of your prediction and exit your positions in the Forex market as that "time stop" is taken.
The third type of protective stop loss order that I use s simply an arbitrary one. Let us say that I am watching a market fight to change its trend. If I think that the market will rally now without looking back, I might try to define what I think the chances are that the price of the currency pair I am trading will whipsaw 10, 20, or 30 pips. I would then pick an arbitrary level that I feel offers the best risk to reward profile and then place my protective stop there.