Entry: Short at 1.6362 Stop: 1.6398 Target: 1.6326
What is the meaning of the above.
Does short mean sell. If I sell at 1.6362 how can I stop at 1.6398 and what is the meaning of target
You have copied a trade strategy that someone made. Yes, short means sell. This day strategy say to sell and put stop-loss at 1.6362 and target is a profit target (a place were will you exit when you get enough money) it says to set it on 1.6326.
Hope that helps.
Thank you, Albinas.
For example, If you wanna play safe, at what point do you set you TP at??
You know, it’s up to many things, for example:
The style of trading,
The strategy you use,
Your money management,
and many more things…
But the main rule is that you tp (take profit level) would be bigger or atleast the same as sl (stop loss levevel), else you will make a loss for sure in a long time trading. And this thing (contrast between SL and TP) is called risk/reward ratio. So would be “safe” if your RR (risk/reward ratio) would always be atleast 1:1 or highter.
Thank you,
Albinas 