Discover how to set the perfect stop loss so you don't get stopped out of your trades too early.
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** FREE TRAINING **
Stock Trading Secrets:
https://www.tradingwithrayner.com/sts/
** TRADING BOOK **
Price Action Trading Secrets: https://priceactiontradingsecrets.com/
Go watch now...
** FREE TRAINING **
Stock Trading Secrets:
https://www.tradingwithrayner.com/sts/
** TRADING BOOK **
Price Action Trading Secrets: https://priceactiontradingsecrets.com/
Look at this chart over here. Many Traders will see this bullish reversal pattern at support and then they'll go long. What happens next is that the market did rally a bit higher and then reverse down and would have hit your stop loss below this low and it would have gotten out of the trade. And that's not all because the market then rallied up higher we should which would have actually given them a profit if they didn't get stopped out of the trade. So how can you avoid this? Simple right, you want to set your stop loss like a distance away from this low. How you can do it is to pull out the ATR indicators. Then it stands for average true range. Find out what's the low of this candle. The low of this candle is currently 19.63 so you take 19.63 minus 180r. So 19.63 minus one ETI and one ATR value right now is 0.8 So you just take minus 0.8 and you have a value of 18.83 So that is your stop loss level. So pull out this level. Let's say this is your stop loss level at 18.83 and you can see that this blue line would have been your stop loss level. and clearly in this case you wouldn't have gotten stopped out of the trade and will even end up with a profit.
It still hits SL with ATR, then goes back again
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Thanks Boss, for the time to time training
my best mentor always post the powerfull stuff which is very expesive for other mentor which can every forex trader can benfit
my mentor
Thanks for the tip.