For all trades, it is important to place a stop loss order which is designed to limit an investor’s loss on a position in a security. One of the simplest stop strategy is the hard stop, in which you simply place a stop a certain number of pips from your entry price. However, in many cases, having a hard stop in a dynamic market doesn't make much sense. Why would you place the same 20-pip stop in both a quiet market and one showing volatile market conditions? Similarly, why would you risk the same 80 pips in both quiet and volatile market conditions?
ATR is commonly used by many traders to determine the best position for their stop loss order as it correspond to the actual market volatility. When the market is volatile, traders look for wider stops in order to avoid being stopped out of the trading by some random market noise. When the volatility is low, there is no reason to set wide stops; traders then focus on tighter stops in order to have better protections for their trading positions and accumulated profits.
- Timely display of ATR values (in pips) of up to 37 currency pairs across 5 timeframes,
- Allows you to create your own watch list to monitor only those currency pairs you are interested in.
- Display headline news of your favourite currency pair(s)
- Quick access to other related trading tools developed by us including several popular indicators.
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