Greetings, I apologise in advance for the beginner type of question but I cannot find the answer in any books or online material of which if you have any suggestions please let me know.
When placing stop losses a good bit underneath the previous swing low or a good bit above the previous swing high, I can follow this mostly, except I struggle to follow this when there’s an unusually long leg up and I either have to: (a) set a ridiculously large stop loss with a reciculously low position size for the demo account’s size; (b) guess where to put the stop loss either intuitively or using a fix amount of pips which in both cases I do not feel is a good idea.
How do you guys place your stop losses when there’s huge momentum without a single pullback for over 100 pips?
Many thanks for your help, much appreciation for your patience with this beginner’s question.
When placing stop losses a good bit underneath the previous swing low or a good bit above the previous swing high, I can follow this mostly, except I struggle to follow this when there’s an unusually long leg up and I either have to: (a) set a ridiculously large stop loss with a reciculously low position size for the demo account’s size; (b) guess where to put the stop loss either intuitively or using a fix amount of pips which in both cases I do not feel is a good idea.
How do you guys place your stop losses when there’s huge momentum without a single pullback for over 100 pips?
Many thanks for your help, much appreciation for your patience with this beginner’s question.