Hello everybody,
Currently I exchange without using stop loss. I put take profit 30 pips. My strategy would be defence. It's just like soccer, if you have good defence, nobody can score goal. Your MM is essential. Never exchange more than one percent OF your own equity.
Let it float, rules of character what go up, have to come down and vice versa. Check out at measure and month TF what's the fall in price? From there you will know support that is how much you needed to sustain that reduction temporily. When the price goes up it will hit 30 pips require profit.
Now...