Disliked{quote} I just learning from Pedro, but what I know he is using for sl : - fib levels - harmonic level invalidation 5-15 pips depending on instrument and extensions - classical patterns invalidation - confluence zones Very important he is using multiple entries like at Gold 2364 and 2375 with large sl above 2500. This require at least a medium size account or steel balls. But I am sure he will correct and complete me tomorrow morning.Ignored
Summed up pretty well.
I will just add the following:
EJ, Gold and any more volatile instrument stops are 50 pips by default.
How much you are risking on a single trade in relation to your equity is more important than the distance in pips.
Percentage is the only consideration which matters, regardless of having 1 position or 20.
2% risk on a particular difficult trade such as EJ last week or Gold is more than enough.
Multi entry strategy demand strict adherence to these rules as things can get out of hand pretty quickly.
Lastly, my updates everyday reflect where I think price could go and therefore this affects the management of those trades.
We watch the charts from every angle so you don't have to!!
10
. Playing the game.
