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Set up break. Recovery zone at 2032 - 2034. Standby your account. I stop loss doesn’t mean we loose.
I always say… “set BE”
So… what is BE?
It means BREAKEVEN!
BE is a step to protect your capital or balance from experiencing any loss after making profit!
Basically, making bits of profit while minimising any losses when trading.
You can set your BE by shifting your SL to before price action.
You can see a sample from the image above. Left is for Stop Loss (SL) and on the right is once Break Even (BE) has been done.
I hope you find this useful!
BREAKEVEN (BE)
I'm sure you all will be familiar with this word. Because, it is very important to prevent you from losing during the struggle.
This breakeven is when we move the Stop Loss that we have set the Entry time. But this BE needs to be set when Price Running in Profit.
How to place BE point :-
First, you move the Stop Loss to the 1st Entry.
When the price is further away, find a suitable Supply/Resistance Zone and place it at a safe point. So, if there is a Price Reversal, we can save the existing profit.
Invalid Setup ❤️🩹
I’m going to wait for another solid confirmation for recovery
USDCAD SELL @ 1.3492
TP: 1.3472 (scalper)
TP: 1.3442 (intraday)
TP: 1.3392 (swing)
SL: 1.3555
▪️Use money management 2-3%
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+1It‘s pretty late so I have closed most profits and I will set my breakeven on the rest and hold them 💰🔝
