Suggest me Money/Risk Management method

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I dont have any problem in technical analysis on 1minute chart but i trade with big size stop loss, which has following problem

1. Sometime it takes hours and waste my time as price just hovers between my stop loss and entry area

2. As per screenshot, If i place stop loss above the 1st arrow's candle high then price comes back and hit my SL and then continue the trend so despite my levels being accurate, I lose opportunity of making money

Now i want to trade with small size Stoploss just a little bit above or below the candlestick where i enter but price comes to hunt stop loss


If I shift my SL a little bit more far away then it mess up risk reward 

so please suggest me any hedging method or money management method which can be suitable to solve these problems 

I am thinking to open a opposite position but need to know when to open, based on breakout or based on high break? and when to close this hedge position in condition as suggested on screenshot

 
This site has around 20 years of similar questions, and answers, scattered all over the different sections (forum, articles, blogs...). You didn't find anything useful ?
 
Alain Verleyen #:
This site has around 20 years of similar questions, and answers, scattered all over the different sections (forum, articles, blogs...). You didn't find anything useful ?

Im expecting latest feedback / suggestion from people who trade daily these days so they can suggest about strategy and psychology.

 

I recently published an article on which you commented positively on.

Did you not take away any lessons from it, especially the part about same symbol hedging being a total waste of trading costs?

 
I'm sure you won't get the answer you want, and those who answer are very likely to provide references in the form of theories on how sl should be placed which I believe most don't have evidence of their success in real trading ( i hope i am wrong about this).
I hope you get the answer you want, Good luck man!
 
Fernando Carreiro #:

I recently published an article on which you commented positively on.

Did you not take away any lessons from it, especially the part about same symbol hedging being a total waste of trading costs?

Your article is is factual regarding prop firms however I am a retail trader and expecting common answers based on personal experience. I believe hedging is more complex than what i studied so far so i am seeking more info on it.

Sugianto #:
I'm sure you won't get the answer you want, and those who answer are very likely to provide references in the form of theories on how sl should be placed which I believe most don't have evidence of their success in real trading ( i hope i am wrong about this).
I hope you get the answer you want, Good luck man!

I agree. 

 
I have had no success trading M1 so far.
 
Since you are not very accurate with your entry, going for even smaller SL values is not wise. It should be the other way around… go further away … stick with one pair … wherever you put your SL, go for the same amount of risk … and when you are happy with the results don’t bring your SL closer to the entry… just increase your risk a little bit… follow your strategy… 
 
In my experience trading 1 minute timeframe is more like gambling. 
 
If your trade on m1 takes so long its simply gamble. Your stoploss should be according the tf you trade so if you trade m1 your stoploss should be small. M1 doesnt give you long term information.
 
Hundreds of articles and comments already exist on this topic.

Here is a good one:


Use the "Article" tab to find more articles such as that one.
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