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yes i think you are correct because before i faced such due to net connection . i just see my position and dont put sl that time thinking that i am infront of pc and that time i lost net connection and that was newyork session and due to heavy movement of market i lost good number of pips . so i think its always better to put sl first then observe the open position.Quote:
Originally Posted by anubhavsingh
Stop loss may depend on the volume you trading. if large volume trade then i use 20 pips stop loss. If the volume is small 0.1 then stop loss moved to 60 pips. stop loss is one of the most important thing which we have to remember while placing a trade.
yes, what i meant above is my SL for daily trading, but for scalping i will certainly put it tighter than that, and i use a minimum of 1:1 risk to reward ratio, i never set lower than that cause it will easily blow your account
i cannot say thats right or wrong before i knew your TP, so, what is your TP ? i think its good as long as your TP is bigger than the SL, or at least you have the same SL and TP
i that will be very risk brother, what will happened if your internet connection is down ? or your computer suddenly hang ? if i were you just set the SL at the point you cant tolerate any more loses
well it depends upon the need.But always its not wise to have like this TP=SL.
For beginners i recommend 2:1 ratio.
if TP is 100pips have SL as 50pips.So that if you lose a trade also,atleast the last trade's half profit will remain.
Yes.SL input depends upon the type of trading too.The ratio i told is for normal swing traders.
But For Scalping i always feel that one should never provide SL since there are lot of chances to get SL triggered since its a very small value.
yes we can use support or resistance for stop loss or even SAR also.
mostly i will use pivot lines for determining the Stop loss and Profit levels. they are really useful.
Stop loss depands on the various condition and it differs from place to place and person to person ant also there patience ... but i prefer H1 which enables trader a good experience and it helps a lot as i think.
determine the stop loss is easy ... the hardest thing is to regulate our emotions, in the beginning we set a stop loss of 2% ... but in the middle of our trade to replace it be her 5% ... it is difficult to control ...Quote:
Originally Posted by malik