Hi fellows, In this educational post, You will learn where your stop loss is reasonable, safe and most effective and increase the rate of success. Stop placement is a professional skill. Trading without limiting losses is highly dangerous. When it comes to trading on waves and classical chart patterns then your stop loss should be there where it is safe and secure. When a trend starts to appear and set the direction of that particular asset then you can use that place for stop loss. Normally we call that place impulse generation point and we call this technique putting stop loss behind the impulse. I will post couple of examples for better understanding. If you have any question regarding this then please you can post in the comment area i will try my best to answer of your questions.Thanks fellows.
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Here we got the 1st simple example for understanding.
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I think some of you fellows do remember this daily and 15 minute post. If you do then this is gonna be easy for you to understand.
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Here we got another example fellows. You fellows can see the impulse clearly on this chart Stop behind the impulse and price never violated that impulse
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Just look at the recent example fellows. I was anticipating the TCP and it has completed Entry from top of the channel and stop behind the impulse
hey, one question on this: the shown stoploss scenarios seem to be most likely a 1:1 risk reward - but the stops are that save so you lose only in worst case scenarios?
do you quit your trade before the next contination pattern or do you hold em for several impulsive waves?
thanx a lot !
and great analysis as always thanx for sharing.
Wave-Trader
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@pipfarmer, The first one is for longer term and the rests are further sells with at least one to one risk reward ratio within the channel.
P11811
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you took short but question is? you defined impulse is strong and sharp move but this setup is not like as you side its more likely corrective move!!!
mfawadjoe
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If you dont mind where did you learn so i can learn to trade like you?
richard1990
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When do you put the trade to breakeven?
Wave-Trader
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@richardfedesme, at least when next TCP starts to form
Thanks for sharing. But how do you determine your target price?
Bravetotrade
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Nice work.
But i think the stop below the impulse would be too wide when succeeding pullback is shallow and entry is taken on break of downward sloping tend line. The Problem worsens when impulse is very strong.
do you quit your trade before the next contination pattern or do you hold em for several impulsive waves?
thanx a lot !
and great analysis as always thanx for sharing.