My way of placing stop and take profit!

[sammy]

actually those psychological levels are a target of major players and brokers and they like to hit the level to make the weak trades wash away which is called stop hunt. so risk very less amount of money.

[sharabela]

That is quite a good thinking as it seems and sounds. I am sure you must have been trying it for a long time and the result is proved. I will have a go on my demo account and find out how that works for me.

[sazzad]

According to my analysis i think that giving stop loss and take profit is depend on the trader account balance, lot size of the trade and also pair in-case of the EURUSD pair if a trader give trade with 0.05 lot size with 50 dollar account balance then the trader can give 50 pips stop loss and 30 pips take profit.

[ahsankhan]

good opinion than some traders must also have a difficulty in determining when to take profits stop loss how and how much to note in my opinion is the distance do not get too close or far away...

[kalponick]

I use fibonacci and trendline to draw the support and resistance level for that day.. and I execute my trades according to it.. Like I open my trade when I saw that price pullback from a major pivot points.. And I also give my stop-loss and take profit with the help of my pivot points.. because there is always a chance that price will reverse again from those points..

[goldenmember]

I think that is a nice way of placing a stop. I think that the 00 level always gets hit if it gets close. The problem is that if it goes through it normally takes all the stops under that level as well.

[tenma]

hmmm very good strategy thanks dear app ne kafi achi post ki ha or waqai he es ko parrh k kafi knowledge main izafa howa ha main pehely kafi confussion ka shikar hota tha par ab kisi had tak mere knowledge main izafa howa ha

the coupling depends on what I choose to bargain, in that day for USD / JPY I always stop loss 20 pips of its targets and make target is 15 pips, because USD / JPY movement not really extreem.

[nonprado]

Very good information you gave us brother. I have never listen about it.
Recently i entered a sell position whose stop loss is falling on 00 level according to my analysis ( EUR/USD SL 1.3200). But now I am going to put it on 1.3210 to check the reality of your point.

the coupling depends on what I choose to bargain, in that day for USD / JPY I always stop loss 20 pips of its targets and make target is 15 pips, because USD / JPY movement not really extreem

[hmkowsar]

if you can do above 10 pips then its better but not below it ,in the opposite plane your target at 00 level becsuse it will most likely be hit.

[leshvein]

Very good information you gave us brother. I have never listen about it.
Recently i entered a sell position whose stop loss is falling on 00 level according to my analysis ( EUR/USD SL 1.3200). But now I am going to put it on 1.3210 to check the reality of your point.

Nice tips, especially on a psychological level. It is very effective because most traders are taking profits at significant levels, and 00 as minor psychological levels as 50