Stop loss management:
As a trader this was one of my biggest challenges in forex. You see a potential trade but you have to place it at a huge number of pips for stop loss. If that trade goes south and you especially placed it at a high lot size your account will be significantly affected.
Kojo forex said-stop loss have to be where stop loss have to be, you cant just throw in stop loss.
So, what do we do?
It is advised to frown upon any trade beyond 20 pipis. I know every trader wants to make the most out of a trade they think to be mouth watery in opportunity but you dont control the market-dont forget that.
So,
Target trades where you can place your stop loss at a low. Imagine a trade of 5 pips stop loss. Then increase your lot size. Reduced stop loss makes it possible for you to maximize profit by increasing your lot size.
Have a great day