DislikedGood Luck, its nice to see trades lining up like this, as for i made my biggest mistake today. I bought GBP/JPY and didnt put a stop loss, i never trade without a stop loss, that will teach me a lesson.Ignored
I made a similar mistake last week by setting very large stops and as a result I lost over 600 pips in one trade! An expensive lesson to learn! My stops are back to normal now.
During backtesting I worked out the average drawdown of ALL my winning trades (at least 100) per chart and stick to these as my Stop Loss.
Alternatively, I use twice the ATR (20) for that particular chart, but this starts to get ridiculously high with the Silver charts (ATR of over 800!!).