What is the safest (but most profitable) way to set a stop loss? - page 4

[Dominik Egert]

ANTHONY ONOJETA #:
That is also important because I have observed most times when one chooses a sl using support and resistance zone market sometimes get there and reverses after hitting the sl. So, which ever way you want to use to choose your sl ensure you consider how much you are risking when that sl is reached

This is true as long as you don't consider how much volume you apply to your trade.

When applying your SL distance to a volume, or the other way around, you can control the risk on that trade, and keep your account protected.

[Conor Mcnamara]

Dominik Egert #:

This is true as long as you don't consider how much volume you apply to your trade.

When applying your SL distance to a volume, or the other way around, you can control the risk on that trade, and keep your account protected.

I finally programmed this SL to risk function, after leaving my hesitance at the door, and yes, it's a good mechanism as seen in a backtest. I was previously trying to rely on a time filter, but filtering out too many trading hours in the day ends up not being a good thing.