Where to put the SL on trades

[turner12]

I've been trading for a few months and I've discovered that trading with big SL are good but sometimes it gets to you the bottom for example, Gold. Gold is soooo hard to trade with sometimes. For other currencies it works, but when there's a reversal it can be tricky.

Any suggestion??

 

[Lala13]

I've been trading for a few months and I've discovered that trading with big SL are good but sometimes it gets to you the bottom for example, Gold. Gold is soooo hard to trade with sometimes. For other currencies it works, but when there's a reversal it can be tricky.

Any suggestion??

I have found that some signalers like to make it 100 pips, and others 200 pips on currencies. However, I do not recommend going that long in gold or indices!! That many pips is a big swing even on currencies, and is for a long trade, not scalping. If you want to scalp, then I would stick w/ 20 pips.

 

[Panusa1807]

I use the default FRACTAL indicator in MT4 to set my stop loss and it is very effective.

 

[Sicarius1]

I've been trading for a few months and I've discovered that trading with big SL are good but sometimes it gets to you the bottom for example, Gold. Gold is soooo hard to trade with sometimes. For other currencies it works, but when there's a reversal it can be tricky.

Any suggestion??

Firstly you Shapiro always trade with a minimum of Risk reward of 1:1

If trading break and retest your SL should be below the last low/high, if price reverses three then you just got the trade wrong

 

[benzi]

iam always in struggle with tp and sl. I must clear my mindset