Quote:
Originally Posted by cbarnett808
I'm really looking forward to test driving this system soon, but I have one question first: How do you handle your stop losses?
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Firstly, thank you for the kind words.
I have yet to deal with stop losses since I have the 5 min entry method and also the staged 3 part entry for which I showed only 1 post.
But quickly said, for an evening star, place your stop loss 2/3 pips above the highest point (middle candle - the "star").
Do
not place the stop just 1 pip above it. The bucket shop brokers know about this and if the broker has a 1 pip difference from interbank feed, it is possible that your stop could be hit on a reversal.
After that you will be very disappointed as you see the price roar in the correct direction.
Use the above tactic and you should be alright. Cheers!
