Setting Stop loss

[Pipbill]

Immy,

I use the default stop of 15 pips on every trade and a .5% Risk.

If the Aims level is bigger then 15 pips I don't take it. If it is say 4 pips my question is should I keep the 15 pips stop or adjust to the 4 pip aims level.I always move my stop closer to reflect the Aims level once I am in the trade. This effects my lot size, it remains the same but the rent is smaller because I can move the stop in closer.

I guess I am answering my own question because it comes down to if it is stress free the way I am doing it then don't change it.

Bill

[John Wimberley]

When the M1 decides to go into a 3rd or 5th wave, it doesn't mess about. It does it strongly in about 95% of cases. I will use the trigger candle as my exit. Should I be triggered, my SL is automatically 10 pips. This is my hard line and it rarely ever gets close to it.
I'll watch the candle that triggered me. If there is a retrace that takes me the other side of the trigger candle, then I'm usually out for a very small loss... 6 or 7 pips max

[Pipbill]

my thoughts exactly thx