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What are the rules for 30 point and 40 point stop losses? When do you opt for 40 point stop loss? The way I understand it 40 points are used on days with higher expected volatility. How do you define such days?
It would be easier to follow if you could post the size of the stop loss adjacent to your daily trade plan post.
The normal SL is 30 points in most of the trades.
The 40 points is for volatile days.
I am posting this in my "risk" definition in the daily posting:
"medium" means SL 30 points
"high" means SL 40 points
outlook: slight upmove while waiting on news of the Euro in Germany. After the news quicker upmove probable. Decision of the german high court is tomorrow 10:00
outlook - bullish move before high court decision has already been reached near its end yesterday and today
expecting today a consolidation in the above mentioned hours
GFIs1
expecting discussed scenario despite the small win compared to the long side before
This short trade is ONLY for today - expecting some bullish scene tomorrow again.
Then a retracement on friday seems high probable after the daily chart.
Good luck too!