Do you like losing? Of course you don’t. Then why do you opt to trade with small stop losses? Stop losses should be used as an insurance policy against unforeseen market shifts, not as an unfortunate exit strategy.
On EOD Forex signals, if/when your stop loss gets hit, you should be thinking, “Thank God I got out of that mess,” instead of, “Oh shit, another freakin’ loss.”
You see, EOD trades are low-stress, easy-to-trade and profitable. Why? Because you can forget about all of the market noise, the ridiculous news events that never have a REAL affect on the market except to stop you out of a good trade that later goes on to hit your would-be target. Pisses you off, doesn’t it? It sure does me.
With larger stop losses placed at the TECHNICALLY APPROPRIATE PRICE, you can forget about all of that high-stress news crap and just focus on winning. No more worries about what this ass-clown said or that schmuck said. News events RARELY change a market’s direction on the daily timeframe.
Whether you want to take your pips and get out or stay in the market for those huge, 1000+ pip market moves, the choice is yours. But with large, insurance-style stop losses, you can guarantee you will NOT get repeatedly stopped out of good, would-be profitable trades prematurely.
This is why my EOD Forex signals have such large stop losses.