If you are long trader then put your SL minimum 80 pips, If you are short time trader then put in less then 80 pips. I am a trader who don't like to open trade in risky position, So i put 20 pips my SL.
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If you are long trader then put your SL minimum 80 pips, If you are short time trader then put in less then 80 pips. I am a trader who don't like to open trade in risky position, So i put 20 pips my SL.
it is better to not put only stop loss. you should put stop loss along with trailing stop. so, if you wanted to put 50 pips stop loss, then you could put the stop loss to 30-40 pips and put trailing stop of 20-10 pips. i think good SL is about 20 pips for intra day trader along with 10 pips trailing stop.
main pahle ye kahunga ki agar wo scalping kar raha hai, to stop loss bhi utna hi hona chahiye jitna ki wo take profit lagata hai, agar koi long term trader hoga, to wo long term ke hisaab se hi stop loss rakhtega, ye sab trading par hi depend hota hai.:)
If you feel the price will go up, it can be directly
do order "Buy" and the anticipation you can take
pending order "Stop loss" about 30-50 pips below your Buy order.
If your prediction is correct, then you will immediately profit and could close
(Do not Forget to Cancel "Sell Stop" her). but if any of the pending
Your order will be active and locked position so that your losses can be
minimize
happy trading guyss :)
i am new in forex trade so that my experienced is not so long.that reason i have no idea about this subject
Don't forget to put your SL, using SL is very important to manage the risk and security to our account, I also use it since the beginning of trading, but there is also a trader who is comfortable with no using SL because according to them the price will turn around and in accordance with the strategy and their risk management
reasonable value for my SL is 30 to 50 pips, depending on how the value of your TP too. If you have set TP of 100 pips let say, you can set the logical distance like taking half of the value of the TP like 50 pips. But always depend on yourself, which one you like and you thinks very reasonable.Quote:
Originally Posted by fx king sylhet
Actually it depends on the capital balance. I think that we should have more capital if we trade in this market. But we should use stop loss to exist in the market. The stop loss select which amount you can agree to loss per day.
there are many pips which is safe for stop loss as long as trader is acceptable to take the loss..the main thing is to keep on trading well and keep on learning..learning is always the key
I think that the determiner of stoploss and take profit is not what we can fix with number but with market movement. I prefer using the support and resistance level to fix my stoploss because that is what can end a negative trend that cause loss