Gwen11 replies to: EURUSD Only

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In my view, you are not obliged to use a registered stop loss, but should get a mental one ; the need to record a stop loss depends on the leverage effect you use and the correlations between your position : closing a loss-making position may require to do the same with a winning one if they are negatively correlated.

Given I play wide moves (short EURUSD to go back to 1,17) with short-term ones in the opposite direction, I am used to being long and short on the same pair… when I get a feeling I am getting lost, I close all positions and try to think of what happened.

I am way less experienced than most people here, but I dare to say that what matters is not the stop in itself but the way you react to it: if losses are unbearable to you, then definitely you should record a stop with every new position, and not believe that you will be strong enough to exercice it manually.

What at matters most is to be in a position to come back tomorrow… Otherwise…

Good luck and Happy New Year !

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