Simple's Green Room

[gitonwithit]

I'm like SG mostly in that I don't use stops even if I place a trade and leave it without watching it. My mental stop depends on the size of the trade and my timeframe. If I'm in pretty good I may have a 20~30 pip in mind. If it's really light I might have 100 pips. You mentioned 5 pips and I'd just say that unless you are very, very good, it's not realistic for most pairs. Most everything comes around in time and losing 5 pips time and time again can take your money just as easy as letting a loser go to long. JMO.