In this video, I discuss why placing your stoploss or takeprofit based on a random number isn't always the best strategy.

I answer some of these questions:
What can I base my stoploss off of?
What can I base my takeprofit off of?
What's the ATR indicator?
..and more!

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TIMESTAMPS:
0:00 Intro!
0:23 Common Examples Of An Arbitrary SL/TP
2:33 A Technical Example
4:33 The ATR Explained
6:56 Outro!

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DISCLAIMER: This video is not meant to serve as financial advice, it’s for educational and entertainment purposes only. The information provided is simply based on my own personal opinion or experience. I’m not a licensed financial advisor so be sure to speak with your own financial advisor, and to do your own research. Any links provided help support the channel, where I may receive a commission at no additional cost to you. Also, trading and investing carries a large amount of risks with the real potential of losses. Be careful.⚠️