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, through their trading statement you can actually check if they indeed follow their stop loss.
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 the value under Low under the Pips column.
In the image below you can see that the number of pips loss is the same as the lowest the trade actually went before it was closed. Thus, this indicates that it is highly possible this strategy provider follows his trading plan and sets a stop loss while adhering to it.
Fullerton Markets Research Team
Your Committed Trading Partner
