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Yes, i am also put stop loss with 50-60 pips and it is choice for my short term trading plan. Traders can choose stop loss level as per market situation, sometime i make stop loss as per market support level and my analysis. When i opened trade for long time, my stop loss is always set for 800 to 1000 pips.Quote:
Originally Posted by Bangla Forex Rider
If you thinking for long time then you need to use long pips for stop loss. Because if you use short stop loss then market easily can touch your stop loss point on short time.Quote:
Originally Posted by Bangla Forex Rider
me to trading kerte time always 20 pipis hi chahta hun, isliye me ye kehna chahunga ki mere khyal se 20pips safe he stope loss ke liye, jisse hume jada loss nahi ho, aur ek acha profit mil jaye.
Using trailing stop and fixed sl has each advantage and disadvantage, in my opinion of use trailing stop with setting 15pips, possibility will hit sl is higher, because if look in 15min timeframe price movement up and down around 20pip, but its good if in trading market to lock profit.
all actually will depend on the market condition and our analysis perfection ...but i used 15 pips of sl for scalping maximum time obviously TP will set for 7 pips and for long term trade i use 40-90 pips for making 50-120 pips TP ..all depends on my perfectionQuote:
Originally Posted by Anytime
mere hisaab se 15 pips tak stop loss set karna thik hai agar aap short term trading kar rahe hai toh.mai toh hamesha 15 pips ko hi safe samjhta hun kyunki isse jyada loss mujhe achha nahi lagta.
It is true that spending more time on trading or monitoring the trades does not ensure best results as a trader should spend more time on doing the analysis and study and learn about the markets which will get better results for a trader .
It is true that when a trader is able to make consistent and regular profits in demo account and have learned his trading style and different indicators and is confident about his trading that is a signal that he is ready to trade in real account .
Is it 0.05 or 0.50 lot size you are talking about and now you are talking about trading a standard lot which means 10 $ a pip and if you have the right experience then it is a good thing to do .
To avoid margin call or blowing off your account a trader must choose his lot size very carefully based on the leverage and amount of equity in the account and should place all the tools of money management to reduce their losses and increase their profits .