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Is this type of trade for a scalp or swing? The stop is at breakeven
Limit order entries are mostly scalps.
There are two stop order entries: a DB that evolved into a TRI. The TRI is not a scalp, the DB with decent SB maybe but the bear leg has strong bear bars and is in a microchannel, so maybe not. When in doubt, treat it only like a swing.
Also, the stop-loss for those stop order entries is not a BE but below the good looking SB or below the last higher low.
When using a breakeven stop, should I pay attention to the spread? For example, the spread on EURUSD right now is 1.5 pips. Say I go long, the trade goes my way, and I decide to move my stop to break even. Should I subtract 1.5 pips from the BE stop to ensure it does not get hit if the market comes within 1 pip of my stop? Thanks.
