GM git.., you covered something I failed to...the 5 pip SL thing...you're right on about that..I see no way to have anything but losses on a 5 pip SL....even EUR/USD will take a trader to the cleaners on 5 pip...certainly would be worse on EUR/JPY.About the only way it could work would be n a blue sky breakout nailed perfectly..but then if a person could nail those all the time stops would not be needed except maybe trailing stops.When I first started I used stops for a bit and started also at 5 pips..lost money on several good trades and moved it to 10 pips..still losses..just not as bad...moved to NO stops and improved techs and that was far better than the so called safety net of stops.Started making money consistantly then but of course I babysit all trades..especially live trades.
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