Diffferent Trader adopt different numbers of pips while trading. Its depend on their investment and experience. so we cannot gereralize the exact pips for setting stop loss. its depends on situation to situation of a trader.
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Diffferent Trader adopt different numbers of pips while trading. Its depend on their investment and experience. so we cannot gereralize the exact pips for setting stop loss. its depends on situation to situation of a trader.
I think better to install the SL between 30-50 pips.
My experience using SL of 10-20 pips, but the market actually touching the SL and turned toward ...
so from now on I always install the 30-50pips SL ...
at least there is no air to breathe, there are 100 points before mc, better still if the motion is more secure another 1000 points ...
as far the trading thatr i do is concerned i try to make the trade based on the pivot pint analysis so the trades do not have stop loss more thatn the 30 pips naturally and the take profit is more than 50
gating lots of pips is good for doing forex business , in my view i think we do need need so many pips for a day to sl in some cases it depends on you how much experience you have in this business.
i belive every traders must have a different opinion in trade.maybe 50 points daily will suffice,but there are some trader who prefer the 100 pips or even more to keep the stop loss in the business.Quote:
Originally Posted by djmixsamo
this is a good advise because it comes from personal experience; i think 30-50 pips is good for those who want to catch big pips.Quote:
Originally Posted by mirzaaliashraf
but i think we must also adjust it with our trading strategy so we don't put too big stop loss.
it is an open question and atleast i am not able to give the sensilbe answer of this question as i know that the market move to every level a trader can imagine and therfor ne limit will keep a trader safe from hitting stop loss.
i think using the stop loss is very important because it's help all traders to limit their losses and protect their account to avoid lossing the capital and i advice them to using also the money managment and risk managment because they have lot of benefits and advantages.
Your stop loss has to take account was is optimal for your entry and take profit. Having a fixed stop loss is not ideal - but I have not found a better way yet. If your stop loss was too small, then its your entry that was wrong, not your stop loss. Currently I aim for 20-30 pips stop loss and no more on EURUSD, GBPUSD, AUDUSD, EURJPY, GBPJPY.