GBPUSD Swing Trade With Stop Loss 10 Pips And Take Profit Target 250 Pips

8 December 2016, 07:41
Ahmad Hassam
0
101

GBPUSD is a highly lucrative pair only if you know how to trade it correctly.

GBPUSD is a roller coaster and you suffer huge losses if you don't take risk management seriosuly.

Read this new blog post in which I analyze a recent GBPUSD swing trade that made 250 pips with a 10 pips stop loss.

Always focus on risk management. I never open a trade with a stop loss bigger than 20 pips.

Most of the time my stop loss is between 10-20 pips.

I only use pending order and have stopped using market orders a long time back.

My trading strategy entails first analyzing the weekly and the daily timeframe.

Once I have determined the direction of the market, I switch to H4 timeframe.

I determine the stop loss and the take profit levels and place a pending order.

After that my trade is set and forget.

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