I'm curious what methods/formulas people have found most useful/reliable for setting your stop loss? Please describe it in terms that can be applied to any timeframe.
An example might be if one trades off daily charts (average trade lasts 4-14 days say), they set their stop using ATR(10) off the H4 chart for the number of pips below/above their entry - or something like that.
Not asking if the above is a good method, just throwing it out as an example.
An example might be if one trades off daily charts (average trade lasts 4-14 days say), they set their stop using ATR(10) off the H4 chart for the number of pips below/above their entry - or something like that.
Not asking if the above is a good method, just throwing it out as an example.