Bloodhound
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Interesting discussion about stops, it really is a personal thing isn't it? I see the benefits of using both "logical" stops and rigid stops, both work in their own way.
Personally, I reallly like break-outs with tight rigid stops, TP (part) very early and move stop to BE, then move stop along with trade. Granted, a lot of trades end up being small profits, small losses or BE, but when they go, they go...
Not the most efficient MM when break-outs re-test S/R before going in your favour, but here is EURJPY from last week, an example of a good 'un!
J
I think you are right. They are personal and I find that on M5 this is exacerbated. The thing is, the more I learn to trade, the more I realise that the entries are pretty irrelevant - it's what one does next (and I completely agree with what you've just written about trade management).
As an aside, is this all relevant to a thread about 'naked' trading?
I think hugely so, as I do believe that this style of trading has meant that I see price / trading slightly differently. After all, one can't believe that price is 100% unpredictable and then not believe that a toss of a coin could do just a good job on the entry front - but it is us as humans who control the exit.....
Hmmm - maybe a little deep for a Sunday evening!!!