FX Poll: How many pips for stops

Discussion in 'Forex' started by lemeeeplay, Oct 31, 2008.

How wide are your day trade stops during current market volatility?

Poll closed Nov 7, 2008.
  1. 5 pips

    3 vote(s)
  2. 10 pips

    7 vote(s)
  3. 20 pips

    9 vote(s)
  4. 40 pips

    4 vote(s)
  5. 80 pips

    2 vote(s)
  6. 100+ pips

    9 vote(s)
  1. ATLien


    7 on EURUSD
    #11     Oct 31, 2008
  2. Exactly, spot on.
    #12     Oct 31, 2008
  3. For myself, stops are based on swing pivots in price and how far away my entry is from them. I try to keep them with 5-7 pips on the E/U.
    #13     Oct 31, 2008
  4. achilles28


    Its good you've got a emergency stop (20 pips) in mind and get out earlier.

    I would recommend using support/resistence to time entries on lower fractals. That way, you waste less and get a much better feel where the market is headed before taking a 50%+ loss on your emergency stop.

    remember, that price patterns work on all time frames.

    my 2cents
    #14     Oct 31, 2008
  5. achilles28


    Why risk it?

    A good trader can easily get back in during chop around a key level.

    How do u manage risk, then? HedgE?
    #15     Oct 31, 2008
  6. Why risk what :confused:
    What 'chop'?
    I manage risk using stops.

    I don't really get the point of the poll because there isn't a standard one-size-fits-all answer, it depends on numerous things.
    #16     Oct 31, 2008
  7. achilles28


    Now you've got me confused :)

    what did u mean by the one hand clapping remark? I thought u had referred to stops = none.
    #17     Oct 31, 2008
  8. 'What is the sound of one hand clapping?'

    It's a Zen koan which are supposed to promote intense meditation and eventually enlightenment. In this context I guess it means think about the 'How many pips for stops' question, enlightenment will come......or perhaps not!

    I think that's what stevegee58 meant, he's the one who said it, I just agreed :)

    #18     Oct 31, 2008
  9. achilles28


    Wax on, wax off :p
    #19     Oct 31, 2008
  10. First learn stand, then learn fly. Nature rule.

    #20     Oct 31, 2008