For those of you following TMS, you will have seen Rick (dcginc) posting the ATR pips UL Corner (check out his posts on TMS) - settings were: periods = 7 and multiplier = 1. I still use this to set the SL and TP levels, so once these are set , the only changes will be to close early if PA stalls - I will never extend the SL or the TP once set. If ATR 7 = 100 pips, then TP1 = 100pips, SL will either = 100pips or swing H/L. I will also place a second entry, same SL but TP2 left to run with SL changed to BE after TP1 is hit.
Im trying to understand As u said when ATR& say 100 pips So u set both T/P and S/L 100 pips Is that right .Thanks