Quote:
Originally Posted by Kenny Rogers
What strategy are you using for Stops?
I'm always interested in the exit strategy than anything else.
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That's a question of an expert!
MA cross is a simple answer.
But honestly, I cannot formalize it, Kenny. Generally, I use support/resistance on a higher time frame (4hr-1 day). It is (the stop) never is a % of my deposit or a fixed amount of pips. I try to make it logical. Just common sense. And Also I have a pretty strong trust in this
Mizuho Corporate Bank, Ltd. London Branch
My normal stop would be an opposite MA cross, again. However, if MA crossed, say, downwards, but price is close to a stong 4 hr support, I will wait and sit with a losing position. Maybe this is TOTALY wrong. Dunno.
SO it is the "gut feeling" rather then anything else.
I know my answer is not satisfactory, but as long as my trading is satisfactory for my wallet, I'm happy.
Attaching a screenshot with my new indy.
Still in testing stage, I will post it later for everyone to use with instructions. I have some "rules of thumb", but I need to formalize them and translate into English before I post it. Don't go away, I will try to do it within a week.