Free Forex Signals: https://www.fxluxus.com
The Best Forex Broker for EAs: https://goo.gl/dsiQN8
But have question about mentioned idea , you wrote "Stop orders must be below the local swing low at 9.80 level.", if we look price history, price went below 9.80, wouldn't that trade be stopped before brakes above 11.20?
About proper money management means no more that 5% of funds?
That is the entire point he is making with this post. Instead of saying "I'll just buy it now," if you placed a conditional buy order at 11.2, it is a completely different story and a winning trade. That buy order would have sat pending for FOUR DAYS until the price blasted past 11.2. You still need the stop loss at 9.8 in case this was a head fake and it fell back down after hitting say 11.4.