I am stuck between using a 5 or 10 pip stop trading the m5 charts, please help! My stratgey is based on break of support/resistance, therefore I believe a tighter stop could be used because if price is going to breakout it should not be turning back 10 pips. However I need someone experiencd to help?

On the 5 min – I’m guessing you’re trading one of the major pairs like the EUR/USD. The answer really depends on what swings you’re playing

My advice would be to

control risk/reward – don’t have your stop at 10 pips if you only expect to make 5. It should be at the very, very least 10 and preferably much more.

Watch the markets and try to define where the best "point" to place the stop – this is the price at which if it is hit your target will likely not be hit. For trades similar to yours I put them around the 80% retracement of the prior swing (I think there is a fib like .782 which I used but haven’t traded since the summer).

Really, just watch the market, watch the market, watch the market, be creative, be smart, and protect your money.

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What I’m getting at, is that people tend to lose themselves, lose sight of their ideals if they became a successful trader. Whether it by Chinese oligarchs who live more lavishly than Goldman Sachs execs or a typical Wall Street trader.

No. The entire premise of communism is public ownership of capital. The stock market directly allows for that. A worker can go purchase as much stock in a company as he can afford, and in so doing becomes an owner. The stock market, and public ownership in general, is only non-communist in the sense that it is individuals, rather than the government, that owns the means of production.

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