
Pare zlotych mysli z http://articles.mql4.com/813:
it’s not about being right or wrong rather how much you make when you are right and how much you lose when you are wrong
Managing our losses is then the key to increase our profit.
you want to have as many support/resistance levels as possible between the current Price and your SL
SL level shall always be chosen looking at the current condition of the Market, so called Price Action. Who uses fixed SL (say very common 20 or 50 pips) has probably a very limited understanding of the Market and trading in general. In fact SL shall be wide enough to avoid being wiped out in case the Market retraces back against you… but not too wide otherwise one would have a very limited return compared to the risk he is taking with the trade.