This is the break we want. Now I find the trend and short this down down down, I add and add and add some more build build build!!!
AUD decided to add more bait into the bull trap.
I am fully loaded, ready to destroy bulls Monday morning
There is 2 reasons for me to have a Stop Loss. First would be when i take a 2-3 pip Stop trade, which is a bigger position size. The second is only when my trades are in profit, I will bring them in to +1 to start with. No exceptions. Then decide later what to do with them.
To me, Stops are bad. The chart will always give you a chance to exit Bad trades if the entry was good itself. So example would be you long a support that lasted 5 bounces. When it break there is a huge build up of money so it reverses back to that zone, everyone jumps ship and it nose dives.
This move up ward cleared more "bad longs" then I actually shorted. I scalp all day hedging against weeks of Building. Then if it turns out bad I close it when it comes back, or simply bet more against it aiming for bigger targets but still closing my hourly wage out every hour in pips!!!