Last night I shorted USDCHF, and the price was going down nicely when I went to bed, about 15/20 pips, and I had a 15 pip trailing stop on it. On one of the 4-hr bars which I'm trading on I noticed that it had a lot of fluctuation, and this triggered the stop, covering me, and I wound up with a mediocre profit (but still okay) of only 10 pips.
So my question is, is the only solution to price spikes like this to set a larger stop loss or trailing stop? I don't want to lose profits, but I don't want to lose the shirt off my back either...?
So my question is, is the only solution to price spikes like this to set a larger stop loss or trailing stop? I don't want to lose profits, but I don't want to lose the shirt off my back either...?