"There is no correct way to trade or to manage stops or lack of them.
Unless you are highly experienced, it is better to define your risk B4 you enter a trade. Best to do this in a hard way (auto stop) rather than a soft way (mental stop).
I place an auto stop 5/6 pips away from my actual mental one, just in case the broker can play games.
Also on the occasion that the market can move instantly 100 pips, you don't want to me caught on the wrong side.
It depends alot on your style of trading as well. I trade intraday with a stop of between 8 and 13 pips, so a move 50 /100 pips against, I cannot have. Though if you are trading a longer time frame, then it might B a different story"
Unless you are highly experienced, it is better to define your risk B4 you enter a trade. Best to do this in a hard way (auto stop) rather than a soft way (mental stop).
I place an auto stop 5/6 pips away from my actual mental one, just in case the broker can play games.
Also on the occasion that the market can move instantly 100 pips, you don't want to me caught on the wrong side.
It depends alot on your style of trading as well. I trade intraday with a stop of between 8 and 13 pips, so a move 50 /100 pips against, I cannot have. Though if you are trading a longer time frame, then it might B a different story"
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