Hi everyone,
after I got some really useful answers from aSandman, Smittens and BRV about correctly setting stop-losses, I was thinking, if a pip-by-pip trailing stop loss would also qualify as a valid method for managing the trades?
Also, Lumesh said in his post that:
This is consistent with a 40 pip TSL strategy. A few months ago I was using a 50 TSL for my trades and it worked very nicely, but my winning percentage was smaller, since I wasn't focusing on S&R as much (I was more focused on trendlines).
So, what do you guys and gals think? Would TSL fit to this method or are we better by adjusting the SL's manually?
after I got some really useful answers from aSandman, Smittens and BRV about correctly setting stop-losses, I was thinking, if a pip-by-pip trailing stop loss would also qualify as a valid method for managing the trades?
Also, Lumesh said in his post that:
QuoteDisliked\"btw i don't know about you but on moneymanagement part i remember that the pdf file suggested to put SL to BE when 20 pips in profit....IMO this way you just get stopped out most of the time....what i do is close for instance half at 20 pips and hold my SL at -20 pips...this way i'm BE but my trade has more room...that is important in bigger TF especially...(adjusting your MM accordingly of course)\"
So, what do you guys and gals think? Would TSL fit to this method or are we better by adjusting the SL's manually?