I'm interested in how all you guys decide on profit stop levels ... there seems to be a fair amount of stop running so how do you decide where to place your stops ... lets say you sold GBP/USD at 1.8330 and the current price is 1.8285 ... a nice little profit ... now an obvious resistance level will be 1.8300 but would you put at a stop at 1.8300 1.8305, 1.8310 ... where ? In a case like this it may have popped back to say 1.8301 and failed to recover so one might think ok i'll put my stop at 1.8302 but then everybody knows stops are going to about there so they will run them - take them out and take the market lower again .... so what in general is the best spread from an obvious resistance level - 00 or 50 or previous high low ...
Any advice appreciated !
Thanks
Paul
Any advice appreciated !
Thanks
Paul