Originally Posted by
;
you're right, 300 is not much to begin with. Ever since I am new 300 is perfect. And plus I do not mind losing all of it, like they say, use the amount of money that you can lose in fx.
But I want to experience a few trades before dropping all that so I understand that my egy actually works in the actual market. So I am thinking about a 50 stop loss and move to split even once I get 30 pips in profit.
Usually, utilizing the daily chart, you're looking at least a 1:3 risk reward ratio. And usually one good trade overrides few poor ones.
My egy would be with a ema 10,20 and fast and slow stochs. When the fast stoch k crosses the d, I wait for the identical thing to happen on the slow stoch. And I look at the direction of this ema 10 to see the strength of this trend. I exit when the fast stoch k crosses Id. I sort of follow shlossberg risk management: wait for all signals to line up prior to entering place, then exit on the first sign of trend weakness..it only makes sense to me
so
50 prevent loss, trail stop 30 pips. . .sounds good to me. .
Thanks