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Originally Posted by watermark
Thanks for such a great system.
Do I understand correctly that for instance today the eurusd buy trigger is at 1.2615 with TP 1 at 1.2635 and SL at 1.2575. This means that we have 20 pips for TP whilst 40 pips for SL. I am still a newbie but a number of traders advice that in order to be profitable the TP has to be greater than the SL.
Sorry if my question sounds stupid but would like your clarification / input.
Watermark
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You´re right.
Dolly indicator says:
Buy is at 1.2615
FIRST TP: 1.2645
SECOND TP: 1.2650
Stop & Reverse 1.2575
Conservative Stop 1.2595 + spread
A trade to be profitable has to be a good one.
TP and SL are only in relationship with Money Managemet which is a different matter. That´s why dolly includes TSR indicator with defaults R/R set to 3.
Right now TSR says: Maximun StopLosses, long 16 pips short 13.