Highest Open / Lowest Open Trade

Quoting Malkolm

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I haven't visited the forum in a while, but I'm glad you're still here, Mate! I noticed that %ATR is characteristic of any candle, be it M5, H1, or D1. Based on this, I started thinking, so I would like to ask you, TooSlow: 1) Are there any triggers when it would be wiser to close a trade that is not going in my direction? 2) If so, is it worth opening a smaller timeframe (say, M1, assuming I got a signal on M5?)

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Quoting TooSlow

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{quote} 1) Triggers? Risk management is not a function of chart triggers. 2) Open a smaller timeframe? What's the point? Price is the same no matter what time frame you use. Cheers!

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Quoting Malkolm

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{quote} Thanks for your reply, Mate! For risk management, I studied the TRO content, in which he says to set a stop loss of no more than 10 points in any strategy. But if you apply this to HOLO, it can happen that the stop loss will be hit multiple times at -10, and the take profit will be +5, so in the long run, my risk management does not work for profit. Therefore, I thought it would be reasonable to “adjust” the working risk management to the chart, and not vice versa. That is, if I close the largest number of trades at +5, then my stop loss...

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Quoting TooSlow

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{quote} Your stop loss is a function of the amount you want to risk and your position size. The 10 pip stop loss is a general rule of thumb.

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Quoting Malkolm

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{quote} I understand, Mate Look, here's an example: 1) I never risk more than $17, which is currently 5% on the broker. 2) Any risk is no more than 5% of capital In case 1 on the screenshot, if my stop loss is at the daily low of -1 point, then with a 5% risk per trade, the total risk per trade is still $17, but due to the high stop loss, +5 points will close at +$3.27. In case 2 on the screenshot, if my stop loss is -5 points, then with a 5% risk per trade, the total risk per trade is still $17, and +5 points will also close at +$17. In other words:...

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Quoting Malkolm

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{quote} I understand, Mate Look, here's an example: 1) I never risk more than $17, which is currently 5% on the broker. 2) Any risk is no more than 5% of capital In case 1 on the screenshot, if my stop loss is at the daily low of -1 point, then with a 5% risk per trade, the total risk per trade is still $17, but due to the .. {image} {image}

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Quoting JackintheBox

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{quote} I see what you mean. I can tell you: it doesn't matter. The only thing you have to watch out is your spread. stay below 2 pips on all pairs, else it can ruin your profitabel trade. The target profit i also still have to test out. please be aware: BE setting or TP of 5 pips is only for you satisfaction - mostly not useful in long term because you cut on your edge with such tight TP's or fast BE set. I know tooslow likes to do that but moving your SL is always lowering your outcome due to market noise. Hope that helps a bit. I think the split's...

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Quoting Malkolm

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{quote} I understand, Mate Look, here's an example: 1) I never risk more than $17, which is currently 5% on the broker. 2) Any risk is no more than 5% of capital In case 1 on the screenshot, if my stop loss is at the daily low of -1 point, then with a 5% risk per trade, the total risk per trade is still $17, but due to the high stop loss, +5 points will close at +$3.27. In case 2 on the screenshot, if my stop loss is -5 points, then with a 5% risk per trade, the total risk per trade is still $17, and +5 points will also close at +$17. In other words:...

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