I just lost my post??? I guess I’ll have to start again…
I just finished watching Jason Stapleton’s weekly video and this week he talked about using ATR for stops and targets.
Apparantly he uses ATR(7) and doubles that for his stops.
For those not familiar ATR stands for[B] A[/B]verage [B]T[/B]rue[B] R[/B]ange, the (7) means it takes the average of the last seven candles
It seems reasonable to me. I did notice a couple of my trades would have worked out if my stop wasn’t to tight. We need that balance of enough room to breathe and not to much to cause huge losses in our stops. I will likely continue to use s/r for profit targets.