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i am absolutly agree with you i think that order depends with the market when we are trading with the pivot point strategy ..and i think it related with the management too because we could put a good management to make money for exmaple 50pt for Tp and 30SL
Quote:
Originally Posted by Anytime
To set your stop loss point and your profit, you must leave a difference of 10 points between them both, for example: 40 pips for TP and 30 pips for SL, but you should see if the market is your friend before to any business, and your own strategy that will give you a good way to enter the market.
i think that when you trade with the pivot point you will use the stop loss by the break of some point with 5 or 10 pt but if you just trade with good strategy and best management i think that you can use 50pt as take profit and 30pt for the stop loss
It is largely dependent on the currency pair in which you are trading and your account size. The pair having history of larger volatility the stop loss pips can be set at higher while pair having lower volatility they can be set at closer.
it depends to the situation and we can not make it as a permanent choice but there are many way to get the price to put the stop loss with good, we can use the upper or bottom of range/chart or use the price from candlestick
I think the safest place to set SL is depending on our lot size. If you used high lot size so you shouldn't place SL too far
away because it will reduce big losses in your account. But if you used low lot size, it can be more far away to set SL point.
It's depending on your money management control and your style of trading.
this depends to the condition, we can not determine it for every trader\s that we open, the important thing here the trader have to put the order at the right track then they can reduce the floating minus too big..and put the SL
Here we are good at managing the funds required that we have. we have to calculate what level of loss mempu to make a profit. I always wear the risk of 3% of the funds that I have. 50 pps and put stop losses just to take advantage of 20 pps.
Yes it is quite good to make decision to place the stop loss before entering the position so that you will not have to go through any loss from that position. Stop loss must be placed at strong resistance if the position i sell and at support if the position is buy.
It is depend of the support and resistance level that where we have to place the stop loss. But my point of view it is always better to analyse the risk reward ration before trade and place the trade according to that.