Hello guys,
I totally agree with you.Support and resistance levels must be the primary points to enter and exit a trade.Placing stops will help limit initial losses .The use of trailing stops can also help minimize the amount of profit given back to the market.I read that the Fibonacci and Eliot Wave indicators can provide good exit points.Does anyone here have experience using them?
Trailing stop is good feature in mt4 which can used to manage the risk and lock profit, and any trader they can set trailing stop based on number pips option, whether 10 pips or 15 pips or more, this will automatically moved stop loss level if price already floating plus from trailing stop setup, but platform must connected to server broker