Hi guys.
I'm sorry if this should be in the newbies section, but I rather thought that the contributors on this one would have more idea re the deliberate taking out of stop-loss levels.
It's just something I came across a couple of days ago, and I hadn't heard of it before. I believe that it's advisable to set one's stop-loss level a couple of pips or so up or down from certain levels because of a deliberate ploy of setting the price so that it wipes out most of the traders who have set their SL at that particular level. Does that make sense? Have I got it right?
Probably a pretty basic question for this forum, for which I apologize, but I thought I'd better ask the experts, so that I'm a bit more clued up next I make a trade.
Thanks for your time, lads and lasses.
I'm sorry if this should be in the newbies section, but I rather thought that the contributors on this one would have more idea re the deliberate taking out of stop-loss levels.
It's just something I came across a couple of days ago, and I hadn't heard of it before. I believe that it's advisable to set one's stop-loss level a couple of pips or so up or down from certain levels because of a deliberate ploy of setting the price so that it wipes out most of the traders who have set their SL at that particular level. Does that make sense? Have I got it right?
Probably a pretty basic question for this forum, for which I apologize, but I thought I'd better ask the experts, so that I'm a bit more clued up next I make a trade.
Thanks for your time, lads and lasses.