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Brownsfan,
Not using fixed stops but placing them below pivot lows for longs and above pivot highs for shorts. Yes, entry could be improved as I'm waiting for confirmation which may be causing me to enter a bit too late.
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If the stops are fixed, which they are here (fixed on the pivot level), then your entry is the only thing that can change. That's it. Your stop level is predetermined based on the pivot, even though the size of the stop may fluctuate, so the only change that can be done is to improve entries.
Since you said the stop size is too large for your liking, that would tell me you are waiting to ensure the pivot level holds before entering the trade, which makes perfect sense. If you want that additional confirmation that the pivot will hold, then you will have to risk more to keep your stop above/below that pivot. If your entry was much closer to the pivot, then your stop will be that much smaller. Of course, with that will come more fakeouts.
So the question you must ask yourself is - I am better suited taking multiple trades with multiple small stops or less trades, but larger stops?
That's all I see at least.