DislikedHi, I need advice from traders who are successfully using this system. If I want to set a standard SL & TP for the respective timeframe - H4, H1 & M15, what would be the best?
Thanks in advance.Ignored
no such thing as a standard anything FX unfortunately, i use H4 charts and my SL is always behind the last swing, could be 40 pips could be 240 pips, some use 2 X ATR, again could be any number of pips. The only constant is the process by which we calculate our SL and TP. Eelfranz and Dcginc have given you two options, but they nor i can tell you what works for you.
you have to back test both options, work out which one you trust and run with that.