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TP SL sizes
 Post subject: TP SL sizes Post rating: 0   New post Posted: Sun 05 Jun, 2011, 18:53 
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Larger TP's and SL's. I was thinking that maybe we should have no limit on the TP's and SL's. Like the next set of trades I'm planning to take are going to yield 700+ pips in one direction. Aussie/dollar 1.0540 --> 1.1340. But I would have to keep exiting every 150 pips. which is pretty irritating


 
 Post subject: Re: TP SL sizes Post rating: 0   New post Posted: Mon 06 Jun, 2011, 11:03 
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rahulkghosh wrote:
Larger TP's and SL's. I was thinking that maybe we should have no limit on the TP's and SL's. Like the next set of trades I'm planning to take are going to yield 700+ pips in one direction. Aussie/dollar 1.0540 --> 1.1340. But I would have to keep exiting every 150 pips. which is pretty irritating


The SLs and TPs can now be moved in the direction of the trade without limiting the final point of the shift. The only constraint is that every increment cannot be further than 2% of the current market price, which is a reasonable tool to prevent traders from setting infinitely distant TPs and leaving the position for the whole month without control.


 
 Post subject: Re: TP SL sizes Post rating: 0   New post Posted: Mon 06 Jun, 2011, 17:53 
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Contest Support wrote:
rahulkghosh wrote:
Larger TP's and SL's. I was thinking that maybe we should have no limit on the TP's and SL's. Like the next set of trades I'm planning to take are going to yield 700+ pips in one direction. Aussie/dollar 1.0540 --> 1.1340. But I would have to keep exiting every 150 pips. which is pretty irritating


The SLs and TPs can now be moved in the direction of the trade without limiting the final point of the shift. The only constraint is that every increment cannot be further than 2% of the current market price, which is a reasonable tool to prevent traders from setting infinitely distant TPs and leaving the position for the whole month without control.


thats pretty sweet dude. didnt know that. :D


 
 Post subject: Re: TP SL sizes Post rating: 0   New post Posted: Tue 07 Jun, 2011, 02:39 

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I believe that I can not move my SL to b/e because the 10 pip rule. Right? That is no good for me. Can you change it?


 
 Post subject: Re: TP SL sizes Post rating: 0   New post Posted: Tue 07 Jun, 2011, 07:58 
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forexdtrader wrote:
I believe that I can not move my SL to b/e because the 10 pip rule. Right? That is no good for me. Can you change it?


You can move the SL. The "10 pips rule" means that at any modification of the Stop-Loss level you cannot move it closer than 10 pips to the current market price. The rest is not constrained. If the current market price is at 1.4698 and your SL is at 1.4605, you can easily move it to 1.4688 (10 pips from the current Px).

That's how it works.


 

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