Disliked{quote} The idea is to maximize the profit in the trade. And if you loose via stop loss, so be it - and we target to make up with the next trade (Hence the 1:3 TP). Remember you are to open two trades of same pair. You set TP on one (same pips as the number of stop loss - that's 1:1). Once TP target is reached, you close one trade. The other trade is what ideally makes you rich (all things being equal). So you follow it till it touches BB and reverses. Note that it may touch BB and still continue the journey - More pips. I believe the older experienced...Ignored
But my experience is (And this is only MY OPINION), that it stops you out a lot. So @atoz, risk management is up to you. Personally I use wider stops, look at key support and resistance levels and set them a good portion away from the noise. If news come out, a 100 pip move up and down (or both) is very likely, and you do not want to get stopped out...
Whatever you decide works for you, the key element here is:
High probability setup * Risk Reward Ratio is the only way that keeps you in the game!
Regards,
Max