New Version of mnGapAutotrader In Beta Test

As with any trading system – automated, or manual, trade management and risk control play a large part in determining profitability over time.

Setting and then managing stoplosses is a key component of effective trade management and we have been looking at ways we can improve the performance of mnGapAutotrader via better control of stops.

We have seen many trades turned from winners into losers by the tight stop set by the system being triggered, particularly if one of the runners gets stopped out before hitting its target. Although the tight stops create excellent risk/reward ratios, that ensure a winning system over time, some of our users have suggested improvements that we have been pleased to implement.

User Defined Stoplosses

In this latest version, you can now enter a parameter that sets the stoploss according to your individual risk tolerance.

Setting a wider stop will ensure less stop outs that prevent eventual winners, but it does cost more if a wider stop is hit so it is left to the traders discretion to set a suitable stop with this feature.

Automated Stop Progression

The user can now enable automated stop management that will automatically move the stop to protect profits in a wining trade.

If enabled, the system will move the stop to break even (trade entry price) if the first profit target is achieved, and then to profit target one if profit target two is hit. See the image below for todays successful trade with the S&P500 futures (ES).

This will protect profits, for example, if the third contract (if it is being traded) retraces from a mid point between profit target two and three and then gets stopped out by the original stoploss, as sometimes occurred with the previous version of the system.

Free Upgrade

This version is still being tested, however once it is shown to work correctly all existing users will be upgraded free of charge and new users will receive this version as standard.

From now on, all trading results will obtained with this latest version.

Click to enlarge