Disliked{quote}
Setting a stop loss and tp on random trades with ambiguous numbers is nothing more than a gamble...but then again, given what I read on peoples trades, a lot of those are as random as coin toss trades anyways. Gamble in and gamble out... I'd be willing to bet that it is this kind of logic that keeps you out of the mainstream EURUSD thread and others of it's general calibre.Ignored
I agree completely on that, most people might aswell flip a coin on direction or have a method which is real, which provides an entry setup and sensible SL with a good R:R and win rate, expectation.
I've been working on this for YEARS so I know entirely how hard it is, most people just have not got a clue what there up against.
If you read back I stated :-
Tight SL's basically suicide ( sub 10 say ), Loose SL's 20 - 30 and trading no SL if your willing to exit losers, will likely work out the same profit / loss wise over all. Sometimes the SL saves your butt and other times the market turns just after it and wastes money. ( for an average trader I'll add )
Better traders can ofcourse out perform!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!