I want to know, is $250 stop loss for EURUSD (1 lot) is too big or too small. I used this before (demo acc) and get mixed results. In the first day, it was no problem, my floating loss was at max $150 and I win around 7 trades. However, the next day, I lose 7 trades as well. For those who are experienced, what is the maximum stop loss and floating loss you usually get for your trade?
Its better to place your stop below support (If you are long) or above resistance (If you are short) and accordingly measure your risk, and accordingly set the trade size. That is more efficient risk management.
The system/strategy you are trading should determine your stop and profit levels. In any event that sounds way too low if youre talking about 1 standard lot.
On a 1 lot trade £250 gives you 25 pips movement.
This pair can easily move 150 pips in a day so 25 pips could go in under a minute.
What is your strategy?
Have you studied at Pipschool?
[I]“The only shortcut in forex is the shortcut to failure”[/I]
Hey, I flip a coin and it tells me which way I should trade, and if it agrees with my TA I go with it; it’s been a pretty good ride this week, mostly wins and a few losses. Try that, it’s easy and pretty much beats the market every time, but you should get the coin blessed or something, so its good luck. You don’t want bad luck coins, bc then you lose 
[QUOTE=“Azlan00IM;710950”]I want to know, is $250 stop loss for EURUSD (1 lot) is too big or too small. I used this before (demo acc) and get mixed results. In the first day, it was no problem, my floating loss was at max $150 and I win around 7 trades. However, the next day, I lose 7 trades as well. For those who are experienced, what is the maximum stop loss and floating loss you usually get for your trade?[/QUOTE]
It depends on what timeline you are trading on but for daily its too tight. The typical range for EURUSD is approximately 100 pips per day. You will be stopped out in the noise.
Gary
E/U is a news-affected pair, the Greek crisis news can cause it up or down 100 or 200 pips in a few seconds. 2500$ could be a solid protection for your trades.
You should approached to this matter according your trading strategy if you have one if not you need to created one otherwise you are wasting your time and money.