It is good that you have looked up the trade and worked our where a stop should be placed
If you go back and look again at the price action siince I got stopped out, You can see that the price would eventually have stopped me out in any case a few hours later. But Note that I wouldn’t have been stopped out by much (I believe it went down to 3713 without looking it up again) - ie I would have been stopped out by 13 pips ! - So to me it says my expectation of price action was “In the right ball park”. - I am pleased with that so far.
I am interested to know though - where would you have put stop ? for an up bet with entry at 1.3768, on 28.02.2017 at around 20;03 (8.03 pm) ? (GMT Times)
As I said in the thread, the strategy is new(ish) and intended to catch a large(ish) upside move,
The stop was intended to allow “wriggle room” within and just beyond, the most recent price action.
There were better places to set the stop I agree - but the logical ones were hundreds of piips away - in the low 1.3300 s. That would have required way too large a risk profile and without the neccessary “Reward” ratio if I reduced the bet size to a tiny amount. It was as a defence against a move to retest these levels that the stop was placed.
Was it the best place ? Clearly not. lol.
My re-entry, when I realised I had been stopped out was at 1.3742, since that was a Market entry. The re-entry though allowed me to reset my stop and I did so, takig into account the “magnet effect” of the “round number”, so my new stop is in the !.3600s. That would have been a better place to put my original stop in fact and would only have needed a 100 pip stop or thereabouts, so I suppose I was being a bit “Greedy” with respect to the stop placement element of (risk).
My assessment was - that I wouldn’t need all of that and thus I could trade (and lose as it turned out) a larger size bet.
So I would really like to hear where you would have placed a stop and why ? (Assuming you have taken the bet in the first place of course - lol )