Disliked{quote} your 3 pip sl is too tight. you will miss a lot of opportunities.Ignored
Imagine this, I made 40 pips on that run up this morning with 5 pip sl... went to BE quite quickly. Now, How many trades can I get stopped out before being a BE trader? 8 times!
I need a 20% accuracy to make money and I'm doing alot better than that.
Yeah, I know I have tight stops but that gives me set rules of how much I'm willing to risk, if my timing is out, I lose, normal! If you have larger stops, you tend to fiddle with the stop and postpone the pain. You also heistate to take small winners as they don't fullfill your traders equation of having RR of 2
Only reason more people don't trade with tight stops is because you actually have to learn about market structure and PA formations on smaller TF's and many are ust too lazy to go and study.
Once you become good at your entries, only thing stopping you from making money is where to take profit (Still my problem sometimes)
Good Luck
@pawpaw1000 on Twitter