DislikedHi Olu,
Here is some food for thought.
In terms of good money management, you should be exercising your contract / lot size based your requirements.
i.e. If your SL is 250 pips, to be in the correct SL position (1.07600), your size of you contract / lot should be appropriate for your risk of a financial value that is acceptable to be lost.
e.g. 2% Margin of account, max 50 USD loss, 250 pip SL, 50/250 = 0.20 USD per pip movement, 0.1 LOT entered.
Not saying that getting out of a bad position should be held until lost, but it is best to enter...Ignored
You are right Mike and I do take this into consideration before entering trades. I do use position sizing. I must say though I do not wait for all my trades to hit stop loss all the time...
Olu
Find a trend and milk it for all it is worth. That's how to be profitable