I propose to trade the GBP/USD on daily charts.
Method seems to work on examining historical daily charts but reality somewhat different.
Entry daily high plus 12 pips (5 digit broker)
or Entry daily low minus 12 pips
stop loss 100 pip target 100 pip
previously tried with 9 pip + - hi/lo but got whipsawed out.
Any suggestions on improving stop loss?
Method seems to work on examining historical daily charts but reality somewhat different.
Entry daily high plus 12 pips (5 digit broker)
or Entry daily low minus 12 pips
stop loss 100 pip target 100 pip
previously tried with 9 pip + - hi/lo but got whipsawed out.
Any suggestions on improving stop loss?
Just trade the pullback you idiot!