I appreciate your ideas. You and other traders are helping me grow with your ideas. I put my stop loss below the lowest of the bottoms. I am not specific as to how many pips. How do you determine your stop loss price/pip?
skymtrader
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@garciafong180, I always wait for a clear reversal setup on lower time frames like 30 min to 1 min! Learn to follow stair step pattern of of swings and once a swing is broken in the opposite direction then stops go below the most recent low!
G-monnaay
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@skymtrader, thanks for the reply. Please send me a pic or two showing me examples. I think I know what you are talking about. -Garcia
G-monnaay
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@garciafong180, sounds like you take the conservative approach, you don't just enter a trade (like the 2618) once price enter a reversal zone you've identified.
skymtrader
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@garciafong180, Absolutely! The best way to build wealth and attain a clear understanding of the how and why of successful trades. Let's see what US data does for this cad pair today and we'll pick this up shortly...