On stop loss another strategy is 'stop on close'. That's where (assuming you are monitoring the trade) you wait until the candle closes on whatever time frame you are using. Normally you would have a crash level where you just close the trade because there has been a market moving event. Take the loss, move on. The problem with the normal stop loss is very often, especially at smaller time frames, market bounces off those levels taking all the stops out and then takes off. So, to be clear, there is no stop placed but you have a level where if price closes above/below on the timeframe you are using, the trade is exited. Give it a try on demo and see if it helps.Andrés49 wrote: Wed May 12, 2021 11:39 pm Stop loss theme comes in handy for what happened today in gold. I suspect that the most experienced (more than 5 years of experience) some never put a stop loss. You can see it clearly in the screenshots, unless they bother to remove it, or it's a long way off. According to a highly experienced trader:
Why did you decide not to put a stop loss, and if so, why? please answer sincerely
How many hours a day are you in front of the screen?
If the operation is open, and you have to go to another matter 2 hours, what do you do? leave open. smarphone. closes.
Why do you think this happens before opening NY.
Today it hit my stop loss
stops.png
Also gold is very volatile and maybe try WTI oil instead.Cheers.