Trying to show the people who are new or even experienced what a trailing stop loss can do on a news event or a reversal trade no matter what strategy you using unless you scalp and trade very low time frames this won' effect you.
By trailing your stop loss you can really get the most value outta your trades. The power of trailing your stop losses can really flip your whole account but dont trail them on all your trades, like i said only reversals you see on higher time frames and potentially powerful/ impacting news events (The most imapcting news events look RED on forex factor).
By trailing your stop loss you can really get the most value outta your trades. The power of trailing your stop losses can really flip your whole account but dont trail them on all your trades, like i said only reversals you see on higher time frames and potentially powerful/ impacting news events (The most imapcting news events look RED on forex factor).
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As you can also see in the middle of the screen i used a simple fib retracement to lock in and confirm some more possible resistance levels which if they where respected i could potentially place my trailing stop loss @. which is what i did as the trad was happening
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STRATAGEY REVOLVES AROUND HAVING A HIGH RRR!!!!!!!!!
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MASSIVE TRADE BASICALLY A 1:10 IF USING A £10,000 FUNDED ACOUNT AND CAUGHT A TRADE EVEN LIKE A 1:5 USING 2% RISK WITH A TIGHT STOP LOSS YOU COULD MAKE £1000 while only risking £200. This means you can afford to loose 5 trades while trading this type of low risk high reward strategy and still break even
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UPDATE!!!! (TOOK TP @159.938 because of potential resistance which price failed to break)