I do not set my stop loss by a set number of pips, or at a pivot point, or a Fibonacci line. I set my stops where the Forex market tells me to set them. This forex tip has helped me improve my trading tremendously.
I do set my stop loss at a certain point. Euro/USD can change so quick that if my stop loss is greater than my take profit I really have a chance to lose. So far 15 pips down is my stop loss and works most of the time.
Hi Matt Many experts prefer to develop the stop loss above the nearest resistance line or below the nearest support line not making stop loss fixed points
2 comments:
I do set my stop loss at a certain
point. Euro/USD can change so quick that if my stop loss is greater than my take profit I really have a chance to lose.
So far 15 pips down is my stop loss and works most of the time.
Hi Matt
Many experts prefer to develop the stop loss above the nearest resistance line or below the nearest support line not making stop loss fixed points
Post a Comment