My way of placing stop and take profit!

I have very good information for you. I do not hear about it.
Recently I went to the sales position with a stop loss level to 00 in my analysis (EUR /USD SL 1.28) according to. But now, I am your point of 1.285, it will be tested.

The style, which depend on them for trading on Forex, through which you select a point stop loss and take profit is an excellent way and you should not let go until you come out of each transaction to achieve a good percentage of profits from forex

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Originally Posted by aniket

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

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I think you have to realize the difference between HYIPs and Forex, In fact, we can't set SL in HYIPs, what we can do is waiting for profit once we make an investment, Maybe you can get some profit or lose your entire original capital if this program turn into scam. I also want to know how long you have traded in forex? and what's leverage and lot you choose when you trade in forex? If you are a beginner and trrade with long term trading, I think it is necessory for you to set SL in forex trading, After all , SL can make you minimize your losses.

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Originally Posted by ishvara

Yes, our psychology that we have in forex currency trading can affect us to trade successfully. The placing of stop losses in our trades brings up making of more mistakes if we are taking the wrong trading decisions. We must be careful if we are setting up our TP in our trades.

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Yes your system is good. Every time is set my trade with stop lose and take profit. I think it is very good think to set stop lose and take profit. I set my stop lose and take profit with support and resistance level. But most of time is use take profit 50pips and stop lose 30pips it depend on market conditional.

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Originally Posted by Ammie

Hi everyone, I just want to discuss about how placement of stop in one's trading play an important role in your profitability as a trader. Some traders want tight stop in order to limit their loses, and some newbies position their stop at the wrong place, making it vulnerable of getting hit. Placement of stop should not be looked as negative thing, its our ally in protecting our capital.Setting proper stop in one'strade will give our trade enough room to make it profitable.One technique in stop loss placement I use is the 00 level, most traders view a 00 level as psychological point where most traders, banks and big institutions considers closing or opening a positions. So my advice to newbies, if your stop falls near or at the 00 level don't put it there, chances are it will get hit easily; sofor example your stop falls at 1.2200, place it 1.2190 for buy or 1.2210 for sell positions, the reason for this is to avoid the 00 level that will likely be reached, and I have experienced it a lot before. I use 10 pips allowance to give enough space from spikes, if you can do above 10 pips then its better but not below it.In the opposite place your target at 00 level because it will most likely be hit.

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Nice tips, especially the one about the psychological level. It is very effective because most traders put their take profits at major levels like 00 and minor psychological levels like 50. This means that they will ensure push the price to reach this level before taking profit. However your take profit and stop loss should naturally border on your entry and risk to reward allowance.

Nice tips, especially the one about the psychological level. It is very effective because most traders put their take profits at major levels like 00 and minor psychological levels like 50. This means that they will ensure push the price to reach this level before taking profit. However your take profit and stop loss should naturally border on your entry and risk to reward allowance.

I completely agree with you because stop loss is one of the main elements of a good strategy. Many new bees tend to be setting a very low stop loss which simply leads them to loss most of the times.

Nice tips, especially the one about the psychological level. It is very effective because most traders put their take profits at major levels like 00 and minor psychological levels like 50. This means that they will ensure push the price to reach this level before taking profit. However your take profit and stop loss should naturally border on your entry and risk to reward allowance.

Placing of stop loss and take profit are very important in forex trading and specially for newbies and your strategy seems very good to me . i must try it out in demo account within very short time and then real account .thanks for sharing .

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Originally Posted by Ammie

Hi everyone, I just want to discuss about how placement of stop in one's trading play an important role in your profitability as a trader. Some traders want tight stop in order to limit their loses, and some newbies position their stop at the wrong place, making it vulnerable of getting hit. Placement of stop should not be looked as negative thing, its our ally in protecting our capital.Setting proper stop in one'strade will give our trade enough room to make it profitable.One technique in stop loss placement I use is the 00 level, most traders view a 00 level as psychological point where most traders, banks and big institutions considers closing or opening a positions. So my advice to newbies, if your stop falls near or at the 00 level don't put it there, chances are it will get hit easily; sofor example your stop falls at 1.2200, place it 1.2190 for buy or 1.2210 for sell positions, the reason for this is to avoid the 00 level that will likely be reached, and I have experienced it a lot before. I use 10 pips allowance to give enough space from spikes, if you can do above 10 pips then its better but not below it.In the opposite place your target at 00 level because it will most likely be hit.

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good piece of advice and explained in a easy and understandable way. Example adds value to the explanation. This could give an oversight for people regarding stop, when and when not to apply or trade and proceed.