borisofoz
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Hi all
I'm new and have a few questions if you have the time.
I've opened a practice account and I'm using signals.
They are swing trading signals and you enter a trade with a stop loss of generally 50 to 100 pips.
What I'm having trouble with is that the signals are shooting for 100 pip plus profit movements. .....and most signals have ended at a loss or break even if lucky. However why I am posting is that for at least half of these trades... I have watched the pip profit go up to say 50 pips at least. Just to watch it go back to break even and the deal is closed.
so during this 50 pip profit mark I get a signal to update my stop loss to say entry price. 50 pips behind the current price.
so at this point in time we could close for 50 but we need to keep this 50 pip margin for market noise? price action? are these correct terms?
its tempting to close, but I'm following the signals=discipline.
just asking what size stop loss do others use?
I guess its necessary to keep it at some size to allow the price to oscillate up and down, and hopefully this will give it enough room too move in the average direction we need for profit without hitting the stop loss?
how many pips stop loss do you use?
any help, advice, correction or explanation will be much appreciated.
Cheers
Boris
I'm new and have a few questions if you have the time.
I've opened a practice account and I'm using signals.
They are swing trading signals and you enter a trade with a stop loss of generally 50 to 100 pips.
What I'm having trouble with is that the signals are shooting for 100 pip plus profit movements. .....and most signals have ended at a loss or break even if lucky. However why I am posting is that for at least half of these trades... I have watched the pip profit go up to say 50 pips at least. Just to watch it go back to break even and the deal is closed.
so during this 50 pip profit mark I get a signal to update my stop loss to say entry price. 50 pips behind the current price.
so at this point in time we could close for 50 but we need to keep this 50 pip margin for market noise? price action? are these correct terms?
its tempting to close, but I'm following the signals=discipline.
just asking what size stop loss do others use?
I guess its necessary to keep it at some size to allow the price to oscillate up and down, and hopefully this will give it enough room too move in the average direction we need for profit without hitting the stop loss?
how many pips stop loss do you use?
any help, advice, correction or explanation will be much appreciated.
Cheers
Boris