http://img804.imageshack.us/img804/3919/45366565.gif
Guys and gals,
Look at the current bar, I will think short here if this bar closes well below the previous lows, opens or closes. Normally I will wait for a retrace and sell around the middle of this current bar. Then I stick a stop at the top of the current bar plus a few pips for spread.
Sometimes it works out, sometimes it doesn't, but that is not what matters. I'm always unsure if this is the most logical place for placing my stop. My trading style is scalping and I trade the momentum, so 'A' seems like the best place keeping in mind small losses ... it may sound that I've answered my own question.
But I've also read to use major/minor levels of SR or round numbers etc... as SL levels
Anyway I just want to ask if any pros who trade the same share their method or experiences with me?
Thanks for listening
BTW, the current bar didn't work out lol
Guys and gals,
Look at the current bar, I will think short here if this bar closes well below the previous lows, opens or closes. Normally I will wait for a retrace and sell around the middle of this current bar. Then I stick a stop at the top of the current bar plus a few pips for spread.
Sometimes it works out, sometimes it doesn't, but that is not what matters. I'm always unsure if this is the most logical place for placing my stop. My trading style is scalping and I trade the momentum, so 'A' seems like the best place keeping in mind small losses ... it may sound that I've answered my own question.
But I've also read to use major/minor levels of SR or round numbers etc... as SL levels
Anyway I just want to ask if any pros who trade the same share their method or experiences with me?
Thanks for listening
BTW, the current bar didn't work out lol