What is a Turtle Soup in Forex Trading?

[moonchild]

A turtle soup is mostly known as run on stops, when you place your stop loss close to a support or resistance, before market moves in your intended direction it tends to run stops by breaching such levels before later reversing, if you've been trading for a while you'll definitely experience, it's painful to deal with because market will continue after taking you out.

To prevent turtle soup from happening to you, make sure you place your stpa at a considerable distance from your support or Resistance line, a distance of 50 pips or 100 will give you an edge towards turtle soup.

 

[Asahi]

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