I practice a very conservative MoneyManagement System. Once I place an order it has a 50pip stoploss. However, once the pip count exceeds 30pips positive I move the stoploss to 3pips in front of the order to protect from having any loss on the trade.
Yes, in whipsaw action I get stopped out more but I usually means the market is not ready to move in the direction of my order and I wait on new pricing action that normally mean my second order is at a better price than the first because the market was simply not...Ignored
What pair and tf do you suggest in addition to EU/M5? Thanks.