Most of the time, a good trading strategy is one that follows its trading plan. This is why a trader who sets a stop loss is usually deemed as a trader with a plan as compared to traders who allow their losses to run, believing that the trade will go their way again.
On the CopyPip platform, it may not be easy to look for traders who actually set stop losses as there are no filters that allow you to identify them. However, you can check if they’re actually following their stop loss by looking at their trading statement.
To access these statements, go to the strategy provider’s profile and look under Trading Statement. You can check to see if a strategy provider’s pips loss for trades that he loses is the same as the value shown under Low in column marked Pips.
In the image below, you can see that the number of pips loss matches the value under Low (i.e. the lowest the trade actually went before it was closed). This indicates that it is highly possible that this strategy provider follows their trading plan and sets and adheres to a stop loss.
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Fullerton Markets Research Team
Your Committed Trading Partner
