DislikedA couple of questions for you Eval.
1. You set a strick 50 pip stoploss so do you stay in the trade even if the trend line and other indicators has changed colour and you have had an extreme spike before your hit your stoploss?
2. Why 50 pips?Ignored
Great Questions!!
Answer:
1. Yes. Once you commit you must stick to your guns even though you think you will lose.
2. I try to play conservative so, I like to keep my Stoploss tight. I found through alot of trial and error that 80% of the time a 50 pip stoploss was normally not hit. I also found that if it goes through 50 pip it would also hit 100 pip too so, I prefered to lose the lesser of the two.
The whole FX market is abunch of guesses and ration bets so; you try, through analysis, to pick the best terms for your orders that will make your profits exceeding your losses. It's all a quesiton of numbers and ratios.
Hope that answers your question.
eval.