I'm glad to see people talking about stop losses in this light. Almost everything I had read mentioned 20-30 pip s/l I would set up the trade it would go my way not hit my t/p lvl but sure enough ride back down to hit my s/l. Last couple of days I have adopted another tactic. I only set s/l for when I know I am done trading for a period. If I am going to be sitting here then I just keep an eye on things and let it run. I would be interested to hear more about hedging though. I did a little of it just to play around this morning and see what would happen.
Wasn't so great but then again I am only learning, so its good to see what does and doesn't work for me. Id also be interested in hearing whats the biggest s/l you would put on a trade. Maybe the markets whipsaw more than I have seen...*shrugs* Anyways thanks guys for shedding a new light on the subject. Raven