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main thing is you have to find out you can be with the trend or against the trend. so some times 30 pips some times 100 pips and for long term people some time they can set to 1000 pips too. you can set how much do you think the pip that needed to confirm that the trend has change.It totally depends on your style of trading and your capital, your limit to handle loss. If you are a scalper with minimum deposit then you must set a tight stop loss and if you are a swing trader with big deposit then you can afford to have a big stop loss.
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i think LS and TP both are very personal matter and also depends on the expectation of profit and afford to lose .but we should use th technical or fundamental analysis help for decide SL ..a strong entry never give us profit until we can;t decide the SL or TP
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wasy to stop loss har trader ka muhtalif hota han mgr mera khyal mein 150 pips tak stop loss laga lena chaye kynka market ka kch pta nae hota vo kabhi bhi koi bhi rukh morr sakti han aur agr stop loss thora laga ho tou vo ziada nuksaan de han kynka choti si movement apki trade cancel kardiya karey gi.
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agr app pair mian trading kr rhy hai to ap ko kam say kam 50 pips ka stop loss rehna chaiye or agr app metal main trading kr rhy hai to 60 say 80 pips tak stop loss rekh saqte hai
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I think that if you are trading in forex with goals and objectives it is possible that you reach your dreams in forex. you must determine cleary the reason why you are trading in forex and what you expect in a determined time.
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i say that,
Your present strategy is a terrible way to trade forex. .you say that 500 pips daily is too little, Even though I find Forex fascinating still it's a bit complicated for me being a newbie and all.
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I think its depend on traders own plan and business strategy. many traders are trades many different ways. some are trade for short term and some are trade for long term Forex trade. in short term 50 pipes is safe for set SL. but it can increase when you trade long term.
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I don't think that any SL is safe. You should not think about safe or not safe because losing is part of trading forex. If you are wrong then you wrong and you just move on to the next trade.
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i think this is depends on The size of which you trade with
but in general you can put it 20- 30 pips , but if you trade in small time in m1 or m15 not important to put loss stop as my self i use take profit only
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I think that it's dependent to your account specifications, like your lot size , your leverage and your capital investment, for example if you have a 100 $ account with 1000 leverage then you can have a position with 10 lot size and 30 pips stoploss
