Some basics on determining the appropriate level for a stop loss
Great post! How do you factor in overnight risk? Using true average range?
Also if the trader operates on say 5 min charts, does the same method apply when setting stops e.g. step 1: figure out 1.5x the ATR of the 5 minute bars; step 2 now look at technical levels on the 5 min chart.
Hi Brent, could you expand more on 'Take profit' levels please? Please include what you do if price is very close to a 'take profit' level, would the stop be moved to say break even?
Could you post the excel formula/file you are using to do the histogram for the daily ranges? I can't seem to get mine to work properly.