What is the safest (but most profitable) way to set a stop loss? - page 2
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I'm always in this situation.
Buy 1 code in 2 different prices. Unfortunately the prices is going down so strong that if I don't sell 1 of them, I can't keep it anymore because the loss is too much ( both of them are minus)
So what should I sell first? ( the one with lower loss or the one with higher loss)? I'm not sure you guys can understand me because it is so hard to explain :(
I'm always in this situation.
Buy 1 code in 2 different prices. Unfortunately the prices is going down so strong that if I don't sell 1 of them, I can't keep it anymore because the loss is too much ( both of them are minus)
So what should I sell first? ( the one with lower loss or the one with higher loss)? I'm not sure you guys can understand me because it is so hard to explain :(
I dont like the Stop Loss fixed, however, I prefer the management risk.
I like the Stop Loss with Zig Zag, it easy its calculation (and fast when I aplicate Back Testing ) and its localizate in extreme point!
you can add it to your favorites then you will receive a notification when there is an update.
Wow cheers I didn't realize that
Take a look at the Murrey levels indicator. It gives a perfectly robust stop losses! The most important thing is HOW you will choose the nearest level to place a SL.
And keep in mind that:
1. better to use main levels (0, 4, 8)
2. always add some gap between the level and the actual SL.
parabolic sar seems good, the one which comes with MT4 and MT5 is still one of the best indicators of all time in my opinion
I am not use of this indicator as included repaint indicator, but indeed this is pretty good indicator for scalping. I am use TDI indicator as combination triple indicator Bollinger band, RSI and Moving average on my MT4 platform FXOpen
Lets leave the traditional retail nonsense taught of where the SL should go. It is totally rubbish idea.
It is 99% of time, when retail traders locate a stop loss, it is where the institutions or the smart money gather liquidity from the market price and reverse the price.
You always need to consider the liquidity zones in the chart and consider how big block orders can be placed into the market without moving the price. The thing is you shouldn't be trapped and hunted by your SL.
Then you need to consider some form of price action to understand if the price is "ready" to move to your SL or the smart money is gathering the liquidity from the marketplace in the location where you are going to place your SL....