i used to put stop loss and take profit in any trade i opend to keep the my capital safe , the point i put stop loss at the closer support of the pair
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i used to put stop loss and take profit in any trade i opend to keep the my capital safe , the point i put stop loss at the closer support of the pair
You make a good strategy. But I think a trader should set his take profit or, stop loss by his ability and strategy. Your strategy is also good for beginners.
you talked about a good techniques to safe guard our stop losses, and i agree to you, 00 level has definitely an importance psychologically, so i will say that one can also place a stop loss behind the major fibo level.Quote:
Originally Posted by Ammie
Great details an individual provided us all buddy. We have by no means hear regarding it.
I just came into any promote place whoever quit damage will be dropping about 00 stage in accordance with my own examination (EUR/USD SL 1. 3200). Yet today My goal is to wear it 1. 3210 to test the fact of one's level.
Thanks for the above information ! Very Informative ! Its also depends on which currency pair you choose !
Every forex trader should know that money management is the way to trade forex and succeed in it. In earnest, we need to use the risk reward ratio at all times to set our stop loss and take profits. 1 : 2 or 1 : 3 is the best risk reward ratio in accordance with our trading method.
yes the analysis that a forex trader is performing decides the amount of stop loss and take profits they set in pips. I think that doing this enables us to execute our forex exchange trading plans effectively and make us have the chances of making better trading results.Quote:
Originally Posted by moussi1987
Without knowledge of risk management, we often see traders that are too long to hold the position of floating loss, but when the position of floating profit, they rush to close the position. As a result, the starting position should profit ended tragically in a state of loss. Therefore, before we entered the trade, we must consider carefully how we determine the amount of loss, and how much profit we get. For that we need to determine how the ratio of Stop Loss and Take Profit will we get on each open position.
I am very glad to enjoy your strategy on placing a stop loss and take profit.Now I think my strategy can be a better one.You see,we usually can check the support line and resistance line easily.With these,we can place a stop loss 10 pips under the support line,and a target 10 pips under the resistance line.
alright thanks very much for your vital information and i think i will have to give it a try and see how far i can go in making use of your analysis and see the very best way this can go in my favor and in case i need more information i shall get back to you and i just hope this will go a very long way in given me the number of pips i really wanted