This is what I do, I always have a SL, when the trade is entered , I place a SL of what I want to lose max (bracket order), about 10 pips. That gives me peace of mind
Then it is adjusted to my technical level, (which is normally less) and above my signal bar (for short), if the entry bar is a nice bear trendbar I trail my SL above the entry bar, now that will be risk.
Depending on the market condition, but I normally take half off at double my risk, sometime if I feel is going to be a strong day I will not take any off and just trail my SL below the latest swing high till stopped out.
Then it is adjusted to my technical level, (which is normally less) and above my signal bar (for short), if the entry bar is a nice bear trendbar I trail my SL above the entry bar, now that will be risk.
Depending on the market condition, but I normally take half off at double my risk, sometime if I feel is going to be a strong day I will not take any off and just trail my SL below the latest swing high till stopped out.
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