It seems the key to successful trading is money management. Therefore I am trying to understand the best logic for where to set your stop losses.
In the past I have always searched for the ultimate entry point. However if I now find the best entry, my stop (determined by money management) may not necessary be the best technically.
What happens if entry is 100 pips above support (support being technically a good place for a stop), but your stop loss is only 30 pips?
In the past I have always searched for the ultimate entry point. However if I now find the best entry, my stop (determined by money management) may not necessary be the best technically.
What happens if entry is 100 pips above support (support being technically a good place for a stop), but your stop loss is only 30 pips?