@dfernandez647 on GBPUSD | PriceONN Community

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dfernandez647 PRO newbie
GBPUSD Mar 20
I'm still trying to figure out proper stop loss placement. My initial thought was to just put it far away to give the trade room, but then I saw how much I was losing on one bad trade. Now I'm thinking about setting it closer, maybe just below a recent low, so the loss isn't massive if I'm wrong. It's tough balancing giving it space and cutting losses fast.
GBPUSD

Replies (2)

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rajesh1988 PRO newbie Mar 21
@dfernandez647 I get what you mean about stop losses. I usually set mine just below a recent support level, like that 1.33 area, to avoid getting stopped out by small wiggles. But yeah, if it goes against you hard, the loss can still be painful.
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HHughes44 PRO newbie Mar 26
@dfernandez647 I agree, finding that sweet spot for stop losses is tough! I usually try to place mine just below a recent low or support area like 1.3320. It feels safer than just hoping it doesn't drop too much.
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