Dave,

I've been playing around with a demo FOREX account and I've set my stops not more than 2% of my account, but primarily around support / resistance levels. I now understand why some of my positions get stopped out in an hour or two, while a position (like an NZD/USD I'm holding right now) has gone for about 8 hours.

I need some clarification though - the 14 period ATR for the NZD/USD 60 minute chart is 0.00134. Does that mean 134 pips is the ATR?

Thanks for the help! Great lesson!

James