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Scalpers - What's the smallest TP/SL you'll trade?

  • #1
  • First Post: Nov 2, 2009 8:33pm Nov 2, 2009 8:33pm
I've traded with a 10/10 TP/SL with decent success on the M1 charts. Anyone here gone smaller? The 10/10 was on EUR/USD and that's what I imagine most of this thread would be centered around. Prove me wrong.
  • #2
  • Nov 3, 2009 5:58am Nov 3, 2009 5:58am
TP 1-10 pips (0 to 1 pips for breakeven) , SL 30-35 pips
  • #3
  • Nov 3, 2009 5:32pm Nov 3, 2009 5:32pm
10/10 is not bad at all on eur/usd if you have a decent entry, I personally prefer 20/20 on cable
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  • #4
  • Nov 3, 2009 5:53pm Nov 3, 2009 5:53pm
typically my sl's are around 12 pips on the 5min charts, I don't limit myself on the profit side and take whatever is available be it 10 pips or 200 pips.
  • #5
  • Nov 3, 2009 5:55pm Nov 3, 2009 5:55pm
How many pips spread do you have? even a 1 pip spread would be 10% less profit/larger TP.
Measure twice, cut once
  • #6
  • Nov 3, 2009 6:02pm Nov 3, 2009 6:02pm
Quoting endroute
typically my sl's are around 12 pips on the 5min charts, I don't limit myself on the profit side and take whatever is available be it 10 pips or 200 pips.
Great advice esp for 5 minute traders, I'm on 2 pip renko bars and it suits my phycology. If I don't have a set point in getting out the trade I slip into bad habits taking profit early letting stops get hit at full price.

It's also why I never got on with higher timeframes lol

Gotta find what works for you, though I wouldn't touch any trades under 1:1
  • #7
  • Nov 3, 2009 6:11pm Nov 3, 2009 6:11pm
Quoting cryten
Great advice esp for 5 minute traders, I'm on 2 pip renko bars and it suits my phycology. If I don't have a set point in getting out the trade I slip into bad habits taking profit early letting stops get hit at full price.

It's also why I never got on with higher timeframes lol

Gotta find what works for you, though I wouldn't touch any trades under 1:1
You just summed up trading in general you have to find what works for you.
  • #8
  • Nov 4, 2009 12:38pm Nov 4, 2009 12:38pm
The lowest I've gone off 5min charts is a 6 pip SL and 24 pip TP. Usually it is more in the 10 SL range with 20+ TP but whenever I have one of those tight stop situations I know it decreases my win % so I always increase my RR to compensate. Always gives me a better expectancy.
  • #9
  • Last Post: Nov 7, 2009 10:19am Nov 7, 2009 10:19am
1 min TF
max 6 pip Stop Loss (programmed into Oanda preferences)
no TP set, but avg is 4ish pips... highest 25ish, lowest 0 or 1 pip.
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