What stoploss do you use? 10, 20, 30...? I use 15pips, maximum and rarely 20, not more than that. Do you think that is enough to give price a space or it would be better to use wider stoploss?
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This depends on the timeframe of reference and the style of trading. I calculate my position size around zone width and PA.
As a rough guide below I would calculate a fixed position size per day based on the SL below:
M1 I'd use a 6 pip SL
M5-M30 then usually a 15 pip SL.
H1-H4 would be a 40 pip SL
{quote} Are you using only one this tool? I don’t think, trading with a single tool is a good decision.
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Trading without SL is just madness, but who are generally like to depend on short time trading strategy particularly scalping don’t like to use this trading technique. actually there is a chance to avoid SL sometimes but when it is time to trade in long term , no way to avoid this trading approach , otherwise anytime you can fall a unfortunate losses and risks.
{quote} Trading without SL is just madness, but who are generally like to depend on short time trading strategy particularly scalping don’t like to use this trading technique. actually there is a chance to avoid SL sometimes but when it is time to trade in long term , no way to avoid this trading approach , otherwise anytime you can fall a unfortunate losses and risks.
Ignored
My bet is that you were taught to trade with a stop loss and take profit in mind. Am I right ?
If you trade within yourself then Stop loss dependency falls to the back of your mind .
Most leverage themselves up and then the financial risk becomes the focus.
{quote} Trading without SL is just madness, but who are generally like to depend on short time trading strategy particularly scalping don’t like to use this trading technique. actually there is a chance to avoid SL sometimes but when it is time to trade in long term , no way to avoid this trading approach , otherwise anytime you can fall a unfortunate losses and risks.
Ignored
using SL is not depend which trading strategy do you using. it depends on what money management you have and how much trading balance you have.
This is a tough one to answer as it really depends on your strategy. I look at my risk to reward ratio to calculate the level of my stop loss and my lot size. I think it all goes hand in hand.
