Originally Posted by joesmoe

My personal stop loss works a few ways. Depending on what happens with the trade.

If its 5pm-6pm EST I usualy close half my trade at 30 pips and ride the rest tell I get to the opposite directional set up.

If its choppy then I usually sell half at 10 pips and set a stop loss at 10 pips. My take profit is 30 pips or opposite directional set up.

If its the middle of the day I use 30 pip take profit and 15 pip stop loss.

You will get the idea after a few days of watching this live.

You will also find that there are better times to trade for better profits and you won't mind staying out of the bad trading times.

There are no hard and fast rules to money management. Learn to make up different rules as you see the flow of the Forex. Each time day and season has its time and place for different rules.

I hope this was helpful.

JS