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What is the best stoploss in pips for time and currencies

  • #21
  • May 26, 2010 6:31pm May 26, 2010 6:31pm
I know, but put in 1000's of hours to get the lights to turn on......theres a way to do it that isn't guessing...a couple in here are very close to right....(1 step off).......every thing else I have seen here is pure guess and pray........................
  • #22
  • May 29, 2010 5:50am May 29, 2010 5:50am
Quoting MuddBuddha
I find that a "set" SL is dangerous in varying market conditions; so I personally use ATR(14) Value * 3 on the 5 minute charts. I also trade the pairs with lowest spreads on Oanda to maximize effect.

If the ATR Value * 3 Stop Loss is higher than what I'm comfortable loosing, then I avoid that pair till the range has calmed down.

At the same time, a "set" TP can be equally dangerous. I monitor the pairs movements closely and if I don't like what I'm seeing on the charts, I may abandon the trade with close to or a small fraction of the 45...
can you explain more on the ATR

how exactly do you use this indicator

ive heard of it before but am not sure

Ill google it
but if you can help that would be great
  • #23
  • May 29, 2010 5:51am May 29, 2010 5:51am
Quoting kenkomo
I was taught to find the daily ATR and use a set measure of that.
How do you find the daily ATR and how you actually use it can you explain
  • #24
  • May 29, 2010 5:52am May 29, 2010 5:52am
Quoting Rob Mondave
Yeah, and it depends entirely on your trading approach, too. If you expect two-three candles from your signal that's different from expecting five-seven candles.

A 266-pip stoploss is fine for Monthly signals, but if you use that for Daily (or faster) signals you're probably entering too early or too late.

Rob

thanks rob
could you explain more on how you go about it ? on the daily play
  • #25
  • May 29, 2010 6:45am May 29, 2010 6:45am
Quoting swano
How do you find the daily ATR and how you actually use it can you explain
Put the Average True Range indicator on a daily chart...
  • #26
  • May 29, 2010 11:52am May 29, 2010 11:52am
Quoting swano
How do you find the daily ATR and how you actually use it can you explain
Google "ATR stop losses".
  • #27
  • Jun 3, 2010 1:59pm Jun 3, 2010 1:59pm
googling ATR stoploss


oh by the way new question

do people use BE

break event

free trading

I.e a few pips in profit then stoploss +1 pip of entry

if so how many pips if your trading daily do you move it top break event
5minute chart
some one mentioned 12 pips plus then do it ?
has been successful twice but mmm. 12 pipsd is notr alot of breathing space

?
lol

just wondering?
  • #28
  • Last Post: Jun 3, 2010 2:14pm Jun 3, 2010 2:14pm
Quoting MuddBuddha
I find that a "set" SL is dangerous in varying market conditions; so I personally use ATR(14) Value * 3 on the 5 minute charts. I also trade the pairs with lowest spreads on Oanda to maximize effect.

If the ATR Value * 3 Stop Loss is higher than what I'm comfortable loosing, then I avoid that pair till the range has calmed down.

At the same time, a "set" TP can be equally dangerous. I monitor the pairs movements closely and if I don't like what I'm seeing on the charts, I may abandon the trade with close to or a small fraction of the 45...

so its price - 3 x atr

on 5 minute chart
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