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Hi @ijcarruthers
Thanks for following. Yes - normal stop is 30 points.
Tight stops might occur when a setup is seen but price is moving opposite right away.
Example price is near a resistance and should turn but does not.
So these stops can vary depending of the situation from 10 to 20 points.
GFIs1
Can you help answer these questions from other members on NexusFi?
I the case of a tighter stop you will advise of at that time? Therefore unless advised otherwise the stop is 30 points.
All interesting viewed your thread as I also focus on the Dax opening range trades albeit the first phase .... just after the open. All good stuff.
GFIs1
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Thanks - normally if the stop is tight - it is announced at entry time.
Very rarely I stop a trade manually - but 98% of trades are playing out - either
stopped or taking the gain.
Assumption is that close prior to 14-30 CET due to Non Farm Payrolls at that time?
Thanks
GFIs1
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To keep the risk of stop hunting little I prefer to get out of a trade before important US numbers.
There are of course exceptions - especially before longer weekends where the numbers will no longer
attack the morning entry but will continue the path since opening.
GFIs1
GFIs1
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This week had 3 trades during a bit a shaky phase:
Two negative: minus 30 points SL, minus 13 points
One positive: plus 37 points
Weekly result: minus 6 points
Points since week 2: 412
..the Dax will be traded though. As I think that US futures are influencing the Dax more than GB's there
should be a normal week in the Dax.
The main point is that if there is a US or German holiday during the week - the normal money flow in
the markets and flow out of the markets is no longer in order (aka higher vola with lower volume).
In those weeks trading futures is of higher risk.
Just a thought.