
stoploss is far more important than take profit
Everything changed when in my journal, I've noticed that the best trades were the ones that had a stoploss in a perfect position.
Short trade, SL above recent high, TP before previous low. Makes perfect sense.
These were the trades that performed the best for me, why? because price has neither to break one or the other. Highly recommended to keep journal in your trades.
Stoploss placement in such a way which makes it harder to be hit and makes it easier to manage.
The loving quote of my fav trader
"I believe in defining my risk. I don't believe in defining my reward." — Tom Hougaard