“The Neutralizer”. When a bad trade does go through, and you are left hanging on the slope, why the SL? Why?? Why give up 121 pips so easily? Man, we need to fight to give it up. Why not have the EA place a trade in the other direction with the same lot size, call this trade the neutralizer. The neutralizer will balance the loss in the other direction, so instead of losing 121 pips, your simply stay at -121, with another trade moving in the other direction. The idea of the neutralizer is never to make money, but to keep your negative balance manageable and keep you from busting your account. A neutralizer needs a SL of its own, something small, 3, 5, or 10. The price can bounce up and down around your 121 pip loss line and you are only giving up 3, 5 or 10 each time it kicks in. You need that SL, you do not want it too small or you might sell to fast, then miss it if it moves right past -121. Look at the market, is the price going to move up and down around your neutralizer 10X prior to returning to your original trade and closing out in profit?? I doubt it. You might lose 9, or 12, or 15 pips, but a ton better than just turning over 121.
this would be a nice add on to an existing EA, but also great as a stand alone EA to assist with manual trading. Simply an EA you could attach to live chart that could read your balances and wath for something hitting -200 points, and kick in.