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Originally Posted by bubblestar
hi nina,
towards the end of Sept 2006 onwards, your recaps for CatFX50 started to include the (possible) stoploss from signals generated. I agree that knowing where to put stoploss is one of the most important "tradework" so we know our possible risk/reward before entering a trade.
my questions to you are:
1. did you use any camarilla or fibopivot or is there any indicators to help determine those stoploss level?
2. if not, are there any general rules to find those stoploss level? (eg looking at lowest price from prev day or prev how many bars etc)?
3. if not, could you give any advice on what we can do to improve this ability to determine stoploss for signals generated by CatFX50?
thanks in advance,
bubblestar
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Hi, Bubblestar!
To place a stop loss is something we should learn and know before taking a trade. A stop loss can not be the same in any trade. We need to look at price action first. I like to look for fractals or significant low/high or my levels.
For instance today.
EURUSD was a buy at 1,2999 (09:30cet). That signal was more than 20 pips away EMA50. 1,2440 on USDCHF was holding. Last significant low was at 1,2951, 48 pips. For me was a NO TRADE.
EURUSD was a sell at 1,2962 (19:30cet) with stop at the high of prior bar + spread: 1,2989 (27 pips). Right one with our eyes placed at 1,2951. If we wanted to wait to see if it broke 1,2951, then a sell at 1,2949 with stop at the high of the right signal bar plus spread (1,2969). It made a low so far at 1,2916.
I posted very early today that I did not like the market. We only had a good movement after our trading time.