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Stop Loss Trading Strategy

  • Post #1
  • Quote
  • First Post: Mar 14, 2021 6:38am Mar 14, 2021 6:38am
Hey Guys,

Does this sound familiar? You place your stop just above the highs or lows, price takes out your stop for then to reverse and rally in the other direction! So frustrating!

I walk through my LINE OF DEFENCE analogy about how you need to make it DIFFICULT for price to get to your stop loss. When you understand this, and levels where price reacts you will be able to find a more logical stop loss area.

Inserted Video


Indicators mentioned can be downloaded in their respective threads:

OGT Trend Dashboard - https://www.forexfactory.com/thread/...dicator-system?
OGT Round Numbers Indicator - https://www.forexfactory.com/thread/...-new-indicator?

Thanks,
Zoheb.
Never stop investing. Never stop improving. Never stop doing something new
Quoting zoheb01
Hey Guys, Does this sound familiar? You place your stop just above the highs or lows, price takes out your stop for then to reverse and rally in the other direction! So frustrating! I walk through my LINE OF DEFENCE analogy about how you need to make it DIFFICULT for price to get to your stop loss. When you understand this, and levels where price reacts you will be able to find a more logical stop loss area. https://youtu.be/bRd3t1vXjH8 Indicators mentioned can be downloaded in their respective threads: OGT Trend Dashboard - https://www.forexfactory.com/thread/...dicator-system?...
Keep talking. Sounds good. Thanks and
Regards
Quoting goodways100
{quote} Keep talking. Sounds good. Thanks and Regards
Thank you - appreciate it!
Never stop investing. Never stop improving. Never stop doing something new
pretty cool!
QUESTION: would you recommend manually closing the trade if 2 lines of defense get broken?

thank you very much for this super concept!
  • Post #5
  • Quote
  • Last Post: Mar 28, 2021 7:04am Mar 28, 2021 7:04am
Quoting PacoFx
pretty cool! QUESTION: would you recommend manually closing the trade if 2 lines of defense get broken? thank you very much for this super concept!
I don’t personally move (away from price) or close out my stop early. My stop loss is the point where my analysis tells me that I’m not right and need to be out of the trade.
Never stop investing. Never stop improving. Never stop doing something new
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