then ur stop loss 50 pips might need to increase
Which is why I now would never run a strategy with a fixed number stop loss or fixed number take profit. In fact I rarely use either in any form in a strategy anyway!
Thats interesting, what kind of stop loss do u use then? U dont have any emergency stop loss?
What if a flash crash happens and it exits with 700 pip loss? Like its not exactly something that happens everyday, but it can happen. Wouldnt u want a emergency fixed stop loss at lets just randomly say 300 pips?
I only use fixed but i have seen the flaws of that since day 1 for sure. But i could never get myself to run something without a stop loss i think.. I just wouldnt feel safe, with the insane leverage that im using (normal CFD contracts)
If u google for horror stories with CFD trading for Average Joe theres plenty to read about. That has definitly left a mark on me. Also what kind of strategies are those? (with no fixed stop) Trend following, mean reversion, swing trading, something else?
Edit: im mostly a long only swingtrader or trend follower on 15m – 30m- 1h timeframes, so i feel like using a 300 pip stop loss / no stop loss would be “wrong” because either ive filtered out this great trade that should swing up NOW, or ive missed it and i should probably just get out and wait for my next shot.
