Hope you were on the right side lol..
nothing more to say.
nothing more to say.
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DislikedMost volatile in the longest while. Sorry for the noobs who uses a constant 30 pips SL. lol. Welcome to more dynamics and volatility. Hope it LastsIgnored
DislikedMost volatile in the longest while. Sorry for the noobs who uses a constant 30 pips SL. lol. Welcome to more dynamics and volatility. Hope it LastsIgnored
Dislikedmmm have you seen turbokaos he uses a 30 pt s/l, I think your views might changeIgnored
DislikedSeriously, the biggest stop loss I use is 50 pips and that is reserved for only the most volatile of GBP crosses. I usually use a 30 or sometimes even a 20 pip stop/loss.
And yet, I'm sitting here with an 85% winning trade percentage and an account that I've managed to lift by a whopping 110% this week after consistent 30-50% months for the past year or so.
Successful trading isn't about what sort of stop loss you use. It's about how you manage your entries then how you manage your trades and your money once you have entered.Ignored
DislikedIt is an extremely difficult argument to make and back up, but I think in situations like these the constraint of a small fixed TP level is not statistically more wholesome than letting the trades run and waiting for confluence/rangebound activity to signal the end of the run. Just my 2 pips.Ignored
DislikedIt is about your overall trading plan. Turbo isn't complaining. Sure in hindsight it would great to keep holding onto all these trades in these conditions getting every last pip out, but that isn't what trading is about(and when can't you say - oh yeah you should have done 'this' or 'that' after the fact).
It is about having a plan and trading it and being consistent(whatever your trading plan is). There is nothing to argue here. You have to do what works for you. And that isn't black and white(you aren't a noob for using 10pt sls, just like you arent one for using 300pt s/ls - it goes much deeper then this). Too make the statement that noobs have 30pt s/ls makes me chuckle, considering turbo is swinging a bigger line and more consistent then 99.9% of "traders" I know on these boards.
The perception people have about other traders and the "right" thing to do astounds me sometimes. It really can be the blind leading the blind - and then where does that leave us in the end lol.
Best,
Mike
P.S not an attack at anyone, just my 2 cents as wellIgnored