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Practice trading with $100 max, but missing Breakouts because proper stop placement is too far.
Is a money stop 10 / 20 points still a good trader's EQ for good BO setups ?
Nevermind found it
There is a section where Al mentions using stop just above 60% PB in case of a short, alternatively below 60% PB in case of long.
When he says above 50% PB, he doesn't mean a pip/tick above 50% PB.
In strong BOs, these 50/60% PBs won't get breached. However, using smaller stop always means, higher risk of the stop getting triggered.
I think even if using "money stop" it can't be placed arbitrarily at any spot. For example, Al shows putting it at 60% of breakout because it shouldn't get there if BO is legit. Or in the above slide the stop is above a prior BOP/resistance level which shouldn't be breached if the BO is legit. Those slides also make a good point to be careful that a BO bar isn't so huge as to be climactic exhaustion or so big in a broad channel that probably a deep PB will start soon.
