I was doing some research - page 2
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it is all about probability and autocorrelation
1. on daily time frame if price went up, say 100 pips, then probability that it will continue moving up is higher then turn around, because daily time frame has higher tendency to move in a trend
2. on a minute time frame if price went up, say 10 pips, then probability that price will turn around and will go in opposite direction is higher, because small time frames move more like random walks
no it will not work bcz its reach more possible SL
Well what can i say why would you even consider setting a stop loss in such a strategy ?