How wide a stop

M

mjh

I hate it when the entry you mkae is good but it just took a slightly wider stop, If trading with 3 and 5 minute charst on the ER-whats is agood sopt?? 2 points??
Thanks for any help

GT
 
There is not a one-size-fits-all answer. Depends on the entry setup, instrument volatility at the time, price velocity at the time, overall trading characteristics (trending, rangebound, consolidation, etc) at the time, your trade style, tolerance, and expectancy.
 
Depends on where your profit target is in my opinion. If you are scalping a few ticks then a 2 point stop is too wide. Try to figure out what your risk reward is.
 
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