Disliked{quote} Hi Bilal; As you know what goes up has to come down and vice versa When I see a Trade going against me, like yesterday, I look carefully for "Road Blocks" that might turn Price and then watch for a Switch in Structure M5 M1 Price will Return to Close a GAP or Test a Order Block This doesn't always happen of course and this is when the Hard Stop can come into Play The main thing is to Trade at a Level that will allow you to do thisIgnored
Can you please check if my understanding on your risk managing is correct?
I was thinking about this way of managing risk as well, but I am concerning the below and appreciate your view:
1- The hard SL is big and rarely hit, but if it's hit, it's a big loss, and we need 3-4 win trades to get the loss back
2- It's pretty difficult to decide when to exit as we're not sure how much the price will retrace after it breaks the high
3- How effective do you find this way of managing risk in your experience?
Thank you and much appreciate your time on this
"The hard work in trading comes in the preparation"