Where do you set you're stop loss? | Page 3 | Forex Factory

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Where do you set you're stop loss?

  • #41
  • Nov 28, 2008 2:51am Nov 28, 2008 2:51am
Quoting toshi
Mystic,

Is this where you've buried your forex treasure ? Don't worry, I'm not a good swimmer.

ARRGHH! Me secrets out!

LOL

For the last 12 years or so, we have kept our boat in the coastal town of Mystic Connecticut (we live in NY state, about 100 miles north of NYC, along the Hudson River). It has become a second home to us. I also do some scuba diving, thus the name "Mysticdiver".
  • #42
  • Nov 28, 2008 3:10am Nov 28, 2008 3:10am
Quoting birdt
There are only two logical methods of stop placement that I can think of:...
PERFECT!!

case in point... about 2 weeks ago I had just entered a trade, was in the process of setting s/l and TP when a truck crashed into, and took out a utility pole 1/4 mile down the road from my house... I was with out power for about 2 hours and sweating. since the trade was a scalp, I was using a larger pos then I would have used for a swing trade. I was at the point of jumping into my car and driving to a friends house to use his PC, when my power was restored. It was a tense time to say the least. As luck would have it, I closed the trade +62 pips, I would have normally TPed at +20 pips. I was VERY LUCKY indeed. It was the G/J, and could just as easily have gone agaist me 400 or more pips.
  • #43
  • Nov 28, 2008 9:34am Nov 28, 2008 9:34am
Quoting Mysticdiver
PERFECT!!

case in point... about 2 weeks ago I had just entered a trade, was in the process of setting s/l and TP when a truck crashed into, and took out a utility pole 1/4 mile down the road from my house... I was with out power for about 2 hours and sweating. since the trade was a scalp, I was using a larger pos then I would have used for a swing trade. I was at the point of jumping into my car and driving to a friends house to use his PC, when my power was restored. It was a tense time to say the least. As luck would have it, I closed the trade...
U know that same stuff always happens to me 2!Except in my case its California wildfires Im running FROM-and then the place we evacuate to -gets evacuated-the whole time I have a live trade or 2 and the powers out-burning embers cover my truck and(strangley) I dont care about those trades anymore. Its always something? When will it rain money instead of burning death?-lol-Well my computer survives to trade another session and so did I(my truck looks like its "well-done" though-lol) Im sorry was this thread about Stop-lossess?
FF = Forex Faggots
  • #44
  • Last Post: Nov 28, 2008 3:52pm Nov 28, 2008 3:52pm
I dont have a fixed SL in terms of pips. My SL is based on my risk/trade and my strategy.

If my strategy at a given time on a given pair on a given TF tell me that my stop should be 100 pips, i will calculate my size lot accordingly to respect a 1% risk/trade.
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