Recommended stop losses for GBPJPY

Hi,

What would be a recommended stop loss for the GBPJPY considering it’s high volitility andgood money management rules? Is 70 pips good or is it too tight? Thanks

I would study this pair alot if your considering trading it. Find a method that works. I use a 40 pip stop depending on PA, and if I’m setting pending orders then usually 100 pip. The thing is when your on the wrong side of the trade, its probably going to go a 100 or 200 the other way, so I suggest a smaller stop.

So if you use a smaller stop then you have to fine tune your entry points, else you could be out on the next candle.

I have studied this pair since I also trade it.

There is a wonderful method of entry and stop loss setting known as the [B]count back line.[/B]

It works well for all pairs and works very nicely for this one.

The count back line sets your entry, then adjusts your stop loss as you make profit thro the price action on the trend.
Multiple amount entries are recommended.

If the count back line is something that is unknown on this forum, then it is time that I introduce it.

The count back line is a very powerful trading technique introduced by Australian master trader, Daryl Guppy, along with his Guppy Multiple Moving Average.