Setting the “max daily profit and loss” when using automatic trading algorithms is a smart way to trade.
In this video, we let the AutoPilot system trade on its own, uninterrupted. We pressed record and let it trade the signals per the algorithm settings. The daily goal was $1,000, make or break. The system includes a setting called “max daily profit and loss”
This “max daily profit” setting was used to ensure that when a set amount of profit was made, in this case, $1,000 had been reached, the system would turn off until the next trading day, or until re-enabled.
Conversely, the “max daily loss” setting provided protection if the system lost a set amount for the day; the system would also stop trading and shut down until the next trading day or until re-enabled.
How many trades did the AutoPilot take?
The AutoPilot Trading system took six trades. The video shows every trade taken in real-time. The video is unedited at normal speed. In this case, the six trades took about one hour and twenty minutes.
Emotions are always in play, and many traders using the AutoPilot prefer to manage trades as they occur, moving the stops and targets as they see fit. In this case, we took a hands-off approach. We let the system do its thing completely hands-free. Every trade, stop, and profit target was automatically done.
Results and expectations
The result was 6 out of 6 trades were successful, with over $1,000 profit target achieved. We expected the day to have at least one, if not two, losing trades, but it worked better than expected. Remember, we can’t expect 100% to occur every day, and realistically losing trades will be part of the course for any system.
Each trade started with a 16-20 tick target with a breakeven mode turned on. Suppose you don’t know about these settings. In that case, they are included in the system to configure smaller/larger targets to account for traders who want more or fewer trades during slow or volatile conditions.
Interested in Auto Trading?
The Autopilot is available at DayTradeToWin and is a proprietary system developed using price action. Learn more here: https://daytradetowin.com/autopilot
As we continue to use, the AutoPilot trading system, you can watch more videos and learn how it trades. Here are just a few of the recent videos posted