DislikedI'm out, and yet I still think it could go from here.
All too often I'm stopped out at b/e from a trade that goes on to be successful, this suggests I should give trades even more room.
Some traders I know will tolerate four visits to b/e and still not close.
I am working on how to qualify a longer b/e tolerance.Ignored
I've taken a convenient bit out of the Euro/GBP to illustrate - it is an hourly chart but the idea is, I believe. still very effective on 5 minute charts.
The basics of it is as follows - you should not move your stop loss to break even until the time frame you are trading breaks a fractal.
That it - as simple as that. See the chart below for a visual explanation.
I hope it helps.
Regards
Paul Eamonn