Reduce the size of the stop as you exit for less than a profit.
Bring it back to full size as you make profit.
If you reach your loss limit then quit for the day.
In the picture you see why it is important to leave your stop at its point of origin and exit to reduce risk.
You would have been so bummed had you used a trailing stop!
Manta wrote:Today London, 5M GBPUSD... (other three pairs more or less similar)
MO, thanks. I think, I am slowly really starting to understand what you are trying to teach this community. It seems really powerful. Sell high, buy low...
OK, I have to play a bit more with money management and SL. I think my SL is still too wide, but not sure whether I have nerves for tighter SL.