Disliked{quote} I understand why you have a fixed SL to limit loss But I am not sure it is the best way for a number of reasons 1. spread & slippage are not the same for all pairs and all times. 2. all pips are not the same ie eudusd us usdcad one is 1/2 the other in money better to put your SL under protection ( I think the best are swings and whole numbers with S/D and S/R also good a 200 or 50 MA is workable) and then adjust the amount of money you are putting on each trade You will make a lot moreIgnored
Just let me be clear:
1. spread & slippage are not the same for all pairs and all times.
--I recommend EURUSD and JPYUSD during no news hours. (I only trade these plus USDAUD and GBPUSD -- nothing more).
AND I strongly recommend to go back to post No.1 where TEB63 nicely puts up the BASICS of trading. As I said, it is very important to know for avoiding wrong entries.
My goal: to make profit consistently every week. I'm happy to gain even 5 pips a week if it goes on rock solid. In other words, I'm not interested in making 100 pips in an hour, or even 1000 pips in a week if it is not consistent.