Hello,
I started to read jacko thread about trend trading, as many of you recommended.
He mentioned at some point he is using at least 4h chart, everything below is just noise. Maybe it's true, maybe it's not. What I didn't understand was how can he enter a trade with a 50 pips SL ? I personally think a SL of 50 pips might work on a 1h chart, but not on 4h and above. The market (at least EUR/USD) can easily fluctuate with more then 50 pips.
How do you trade with trades? What time charts are you using and what SL?
I started to read jacko thread about trend trading, as many of you recommended.
He mentioned at some point he is using at least 4h chart, everything below is just noise. Maybe it's true, maybe it's not. What I didn't understand was how can he enter a trade with a 50 pips SL ? I personally think a SL of 50 pips might work on a 1h chart, but not on 4h and above. The market (at least EUR/USD) can easily fluctuate with more then 50 pips.
How do you trade with trades? What time charts are you using and what SL?