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Did the 40 points loss bother you?
I means trading DAX can give you lots of ups and downs and the downs can be very devastating.
How did you cope with those losses?
Can you help answer these questions from other members on NexusFi?
Winning is winning and losing is losing - does not matter really - it is part of the trading.
As it is as business owner too.
But OPTIMIZING the losers is primordial.
This is a long process depending on your own trading strategy.
My 30 points SL is a result of a lot of trial and error.
But it works like a charm for me..
Setting stops wide enough to not be in the noise and near
enough to not lose a lot is the main thing of "Money Management".
My goals are longterm oriented - so some negative results in a row
do not make me crazy.
I read your post you said you use 30 min chart. If I use shorter timeframes like 1min or 5 min, should I still use 30 points stop? Or use a tighter one?
Very, very good statement of what's important.... and I think the principles stated here apply equally to any trading orientation, and any timeframe, just making the appropriate adjustments to fit your own situation.
This answer is quickly said:
The 30 point stop loss is working for ME. For my system. It has a lot of optimizing process behind.
It does not depend on my timeframe - but depends on my Trading System.
If it works for you is with high probabilty said: NO - it will not!
As I do not know your trading system.
My proposition for you: try to find the best place NEAR the noise but not IN the noise.
edit: 09:38h: 11K!!