Forex Oanda is a leading online forex trading platform that provides traders with access to a wide range of currency pairs, commodities, and indices. The platform is known for its advanced trading tools, customizable trading interface, and competitive pricing. One of the key features of Forex Oanda is the Resettable PL, which is an innovative tool that helps traders manage their risk and improve their trading performance.
Resettable PL is a unique feature that allows traders to reset their account’s profit and loss (PL) to zero at any time. This means that traders can start fresh and re-evaluate their trading strategies without the burden of their previous losses or gains. This tool is particularly useful for traders who are new to the market or those who have experienced a significant loss.
The Resettable PL feature is available on Forex Oanda’s proprietary trading platform, fxTrade, and can be accessed through the Account Summary tab. To use this feature, traders simply need to click on the “Resettable PL” button and confirm the reset. Once the reset is complete, the trader’s account balance will be set to zero, and all previous trades will be closed.
There are several benefits to using Resettable PL on Forex Oanda. Firstly, it allows traders to experiment with new trading strategies without risking their entire account balance. This is particularly useful for traders who are new to the market or those who are testing out a new approach. By resetting their PL, traders can try out different strategies and evaluate their performance without the risk of significant losses.
Another benefit of Resettable PL is that it helps traders manage their emotions. Trading can be a highly emotional activity, and losses can be particularly difficult to deal with. By resetting their PL, traders can take a step back, evaluate their performance objectively, and make more informed decisions going forward. This can help to reduce the emotional impact of losses and improve overall trading performance.
Resettable PL is also useful for traders who are looking to improve their risk management. By resetting their PL, traders can set new risk parameters and adjust their trading strategies accordingly. This can help to reduce the risk of significant losses and improve overall risk management.
In conclusion, Forex Oanda’s Resettable PL is a unique and innovative tool that provides traders with a range of benefits. It allows traders to experiment with new trading strategies, manage their emotions, and improve their risk management. Whether you are a new trader or an experienced professional, Resettable PL can help you to achieve your trading goals and improve your overall performance. So why not give it a try and see how it can benefit you?
