blackburns
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Where's the best stop for forex euro/usd 20, 30, or 40 pips?
Forex stops.
- Thread starter blackburns
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shadowninja
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Depends on your style of trading. I use 50-100 pips because I trend trade.
westernforce
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55 Pips is only good on Tuesdays, after the morning session.
It can work well on other days though, provided you say please and thank you to your broker
It can work well on other days though, provided you say please and thank you to your broker
Cr0nos
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there is no 'best stop' and a good stop for you will not be a good one for another, for example. It depends of your way of trading and you have to figure out yourself what is the best stop for you ^^
Concerning myself, I use 5 pips stops (with spread).
graemenash
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The best place to place a stop is at the level where, if the market hits, it means the trade was wrong.
End of story
End of story
IMHO, the valid stop level is not fixed, but depend on the pattern of price behaviour, unless you give a bigger tolerance for your stop-loss, i.e. more than the amount needed to testify the validity of your forecast price movement.
Of course, different trader may look at the price and trade it differently, and still suit his /her trading strategy.
Crap Buddist
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As it happens . Great stops "happen" with great Starts <titter>
Wheres the best Start for forex or any market ? If one could see the start point then one could monitor the continuation points, and be aware of ones stop point.
By stop point I mean the point that the trade is stopped whether it results in net gain or monetary loss at that point, is a by-product of executing an effective trading approach.
So start and stop points will be governed by the approach used.
Now on top o that one should ? employ a meltdown stop, not to be confused with Start Stop point.....
Yah ,so before we are thinkings ofs the stoppings ofs the trades why are we starting??
"One needs to know sunrise before one can determine sunset"
(else one still in complete darkness) "and now when I open the fridge door, i am the one who is filled with light! "
Wheres the best Start for forex or any market ? If one could see the start point then one could monitor the continuation points, and be aware of ones stop point.
By stop point I mean the point that the trade is stopped whether it results in net gain or monetary loss at that point, is a by-product of executing an effective trading approach.
So start and stop points will be governed by the approach used.
Now on top o that one should ? employ a meltdown stop, not to be confused with Start Stop point.....
Yah ,so before we are thinkings ofs the stoppings ofs the trades why are we starting??
"One needs to know sunrise before one can determine sunset"
(else one still in complete darkness) "and now when I open the fridge door, i am the one who is filled with light! "
graemenash
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Exactly. I tend to trade 61.8 fib retracements which follow bounces/falls from what I determine to be "swing points". I put my stop a little past the 100% retracement (enough to avoid stop running & so on).
Basically if I'm right, and I have found a swing point, price should not exceed the 100% retracement, and if it does - well then I was wrong
and that's the time to exit the position.Because fibs are drawn relative to price movement this means I tend to have stops anywhere between 30-120 pips even though I'm following the same strategy from trade to trade.
