I am ur follower yogesh Nanda. Good analysis, keep mentioning SL at entry time for a beginner to protect themselves. Good work . I am trading the system along with u
nikky2201
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@Phaniprakashlolla, Thanks, This motivates me a lot! Setting Stop Loss is not an easy answer because of below reasons:
1. For Risk Taker even 10% SL is comfortable while for Risk Averse even 3 % is too much. For some even 1% is too much.
2. It depends on Pivot (Fibonacci) Level what Support & Resistance are forming bcoz this changes frequently.
3. You can evaluate yourself too. If you think 60 points it can go up and you prefer Risk : Reward as 1: 3 then you can set 20 points below but again if you set SL very tight then there is higher chances of getting hit so keep that zone little far.
Also, I am not recommending any entry. Use your own judgement, analysis and wisdom to take entry.