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Originally Posted by tcrouch
I have figured out that for my trading style I need pretty large SL points.
I shoot for around 10-15pips
Am I just getting lucky, or are my calculated decisions and time spent watching the charts actually a "system" that seems to be working for me?
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Luck or calculated decisions, it could be either, but don't forget we've been in a fairly tight range for a while. Having a big enough stop, a small target, and the patience and money (to support the position) to wait until the trade shows profit is feasible in a ranging market, just watch out for that big loss when the market breaks out, that could wipe out profit from the last 50 trades!
As it's a hobby for you I would say enjoy it, and you've already accepted the possibility of losing your $1k so if that happens it will be no big deal.
Good luck
Mick