This is an actual sketch of my firm's research dept. And we're just not finding any decent looking charts and/or entries today, despite a lot of time and effort. Maybe tomorrow.
The 2 percent rule keeps you out of riskier trades. When your system gives an entry signal, check to see where to place a logical stop. If that would expose more than 2 percent of your account equity -pass up that trade. It pays to wait for trades that allow very close stops. Waiting for them reduces the excitement of trading but enhances profit potential. You choose which of the two you really want.- Trading for a Living
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