Wednesday, January 26, 2011

Contra and straight

I usually avoid (not always!) contra trades after a strong move. The gain on these is minimal compared to the risk taken. So is the first trade on the chart, just 1,5 pips and closed in extremis before the resume up, which gave more pips with some "straight" trades.


G. said...

If you don't mind me asking do you use a fixed pip stop loss or use technical places on the chart as your SL? If a fixed stop loss what would the pip size be? And do you use a percentage of your capital per trade, for example 0.5% or 1% etc.....Thanks

The forexbird said...

i put sl on technical places but i try to keep it bolow 6 pips. i use a leverage of 20 for lot size.