I've seen many trading systems here, but none has a convincing stop loss for an hourly chart. Plz suggest your possible stop loss strategy on 1 hour tf and let's hope we might strike it right.

Essentials for the stop loss,
1- Should be less than 50. Preferrably less than 30/35.
2- Should be effective and possibily a reversal point.
3- Should be easily identified.

Thnx
kevin

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Unless your scalping, 30/35 will trip out a lot of good orders. The best thing to do is to use a really high stop loss so you don't get stopped and utilizie trailing stops using the same value.

I find my EA does poorly on GBP/USD unless I use at least a 200 pip stop. You can look at the D1 and see why. That's the personality of the GBP/USD. I can usually use a lower SL on EUR/USD but still 100 seems to work best.

if you rely on a 200 pip drawdown to get a good trade, then you should likely find a less risky system, if that stop loss gets hit, you're giong to have a pain in the but recovering unless you have a good reward possibility as well, and i would only reccomend attempting at such if you have at least $3,000 for a 200 pip stop loss, otherwise that's quite the gamble.

maybe 100 but you've got to make sure you have a good risk reward ratio.

another thing that may help improve the need of that big of a stop loss would be TIMING your entries, as most problems getting stopped out would be solved when one can do that well.

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I'm using pivot indicator to determine SL and TP ...entry point in 30 TF and put SL and TP about 20 - 30 pips from entry price ....my target is 20 pips a day

The price ussually take a breath at the nearest pivot line before its going reversal or crossing the line ....that's why I put my SL / TP at the nearest pivot line ....

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Hi guys,

I just wondering about your ideal stop loss on all major pairs and TF based on your experience. Thanks.

thanks for the feedback. Okay, I would like to narrow the entry/exit point. Assuming that we are in the correct entry, what would the ideal SL and TP. If these SL and TP did not work that means the problem would be in the entry/exit position. So what's the ideal SL and TP you think?

I would look to program the strategy and then run some optimization tests. If you choose this path don't forget to consider curve fitting as its the biggest enemy of optimization. There is a lot of literature around concerning these matters.

Regards