In an effort to always improve upon things I am wondering about the current state of the SL placement.

At present it is set at 150 pips, which is large but it keeps us in some trades that eventually close in profit. I wonder how this would play out in a live account (any input from members would be appreciated).

I would like to do some analysis on the charts later this weekend and see if there is an option.

First thoughts, after glancing at the charts, is to set the SL at the very last high/low behind the trigger candle, not the last structural high/low but the closest candle which is higher/lower than the candle with the dot. I will show what I mean in a pic below.

If the EA is opening a trade with lot size according to the SL (150 pips) it would probably be 0.01 every trade, but by having a dynamic SL, for each trade, we would have much higher lot sizes.

From my quick glance at the chart I noticed that the dots are usually very close to the highs/lows I am talking about and I also noticed that, for the most part, they do not get breached. Now obviously some do and we lose what would have been a winning trade... but maybe that cancels out the occasional huge SL.

In the attached image we see two trades, one closed at a SL and one won...in the new scenario the SLs would be where the red lines are, at the last high as discussed above.

The pips difference in the two scenarios are as follows...as it was originally we had a SL hit at (-150) and a winner of 122 difference of (-28)
In the second scenario we had the new SLs which resulted in two losses equaling (-110)

It will need further scrutiny to establish if this is worth doing...my gut says it is........stay tuned!

Chris

Here is a continuation from the last pic to show how it would look and how the high/low next to the dots are rarely breached. It may end up that a SL just above the dots is all we need.