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very important in trading sometimes forget to use a stop loss or even deliberately did not use stop loss. in fact there is no problem if it's just not fitted with a stop loss could have been afraid of unwanted things such as power failure or internet network error then when it happened and not on anticipated might run out of money invested is not knownQuote:
Originally Posted by asiaforexmentor
A Lot of traders who are novice in the world of trading do not believes about the importance of stop lose forex trading Because they think that in a stop-lose forex trading method trade is not going in their way As a result they decide to cut off it But when they knew about the importance of it they setup their mind to use it
I don't believe in stop loss placement. Somebody believe in mental stop loss placement which meaning that when they feel that a trade is not going their way, they will then cut it off.
Stop loss placement is one of the main thing if you want to make forex trading profitable. But I normally trade without Stop loss level. Even though it is very dangerous because if trade will go the wrong way very seriously all the money in account will loss. Therefore I invest only 10% of my balance to all trades at a time and I use 1:66 leverage (low leverage).
The fact is that if a trader is a lover of stoploss, then such will also be a love of nice trading account managemenet. it is only by this that a trader can be prosper in forex trading.
dude stop loss is more important for traders who have lesser capitals but for high investors they can takeit lightly
The stop loss should be of no more than 5 pips for scalping and 20 pips for day trading , also sl prevents our account from any unexpected news that comes in moarket , sl is a very handy useful tool for traders to protect their funds.
Yes, every trader should use the stop loss during trade because i think if trader want to set proper risk management of a trade in the account then he/she have to give stop loss procedure and i think it is easy way to control our trade within protection stage.
Before i also dont use SL because of thinking price will come to my point but many time i prove not correct because price come in that palce but to blow out my account and after that many time i always use now SL to protect my fund and keep my loss in certain level. and for this its very very necesary to use sl.
trading main stop loss bahut jaruri hai. stop loss set kar ke aap tay karte hai ki ham kitna loss le sakte hai.
hamara analysis sahi ho liekn ho sakta hai kisi news se market main opposite movement ho or jis ke kaarn hame badaa loss ho sakta hai.esi condition main stop loss hi hame bacha skata hai.
People say that trader can't be successful without using stop loss. I think it is wrong. I would rather not to use Stop loss then use it in wrong way. Many newbies place SL in wrong way- this is reason of many looses. I prefer another type of Money & Risk Managment.
With position opened my account always have 1000 pips to hold on floating minus- this is 1000 pips as a defence. There is small risk of loosing position
using stop loss have a good and bad effect. bad effect is we lose our chance to recover our money. price may be pull back after touching our target. the good side is we can safe from losing huge money. personally i do not support to put stop loss. if we have proper money management system then we did not to put any stop loss.