DislikedI cant help but to take notice of your dilemma regarding to trust the system. I had the same problem and like I posted here :--> http://www.forexfactory.com/showpost...postcount=4299
it its sometimes hard not to intervene. Today I slept and walk away after setting my trade. And was suprpise to see that I got my target profit (40 Pips on the euro/usd).
One thing I realize is that, when we open a trade and we set our stop loss ... we must be prepared to let it go. We must be prepared to loose... We always intervene if we see that the trade is not coming fast and much more going the opposite direction because we are afraid to loose... But often we miss the good trade later on.
This is just my insight. Hope this would help... Goodluck to us all!Ignored
In my opinion the important thing of a stop loss is that we have to put it at a point where we are certain that if price reaches that level, the setup that we were counting on is not valid anymore. That is why fixed s/l's do not work. If we have as a rule that all stops have to be, lets say 20 pips, we are bound to try to double guess, and our mind will play tricks on our confidence. A s/l has to be as close or as far away as the specific set up requires. If you have that in mind, then you don't have to be worried when, after opening the trade, the price moves against you and you then feel the impulse to close prematurely the trade. If you are losing money, but the s/l has not been hit, it means that the setup is still valid and you still might win. If the s/l is hit, it means that at that from that point on there are new circumstances and therefore you will have to reconsider your initial analysis.
So, the critical factor here is Money Management and Risk:Reward ratio. Make sure that you are prepared to lose whatever amount of money is in play if the stop is hit, and make sure that you will win more than you will lose, so your winners will make up for the losers and still leave you a profit. An lastly, make sure to have a great system like this one.