Do you use a static or dynamic SL?

[Rambo35]

Being a member of this forum I have come across many posts where traders seem to have a static SL approach where they just pick a target (for example 20 pips, 50 pips or 100 pips).

No matter what trade it is they have a very static approach. Since forex trading is dynamic it makes little sense to me to have a static SL. I always look at the charts and see what is there to trade which means my SL is
placed accordingly and where next S/R levels are.

What about you guys?

 

[Rockefeller]

I am always trailing my stop loss to minimize the loss. I have a scalping strategy. Of course it totally depends on trading strategy.

 

[Exness Support]

Keeping a dynamic static loss can confuse you. So i use a static stoploss my stop is never more than 20. Thats what i follow that under any condition my stop shouldnt increase.

 

[tobeone]

Very interesting Question to me. I have my own answer and for this I had to go to basics. And basics say that how much pips you risk is unimportant. Important is how much percentage of your balance do you risk.
Maybe I'm wrong, but thinking with pips is an error in my opinion. Thinking with exact risk you take is an edge tho.
You can risk 10 or 100 pips, depending where technical analysis suggest, but your percentage risk doesn't exceed 1 or 2 percent of your account balance.
There are plenty of tools that calculate this for you.