stop loss may different by different trder. some use half of the take profit or some use double of take profit or some use manual. but I use double of take profit. this is safe for me.
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stop loss may different by different trder. some use half of the take profit or some use double of take profit or some use manual. but I use double of take profit. this is safe for me.
yes i agree with you with the stop loss, we will reduce the risk of loss of your money I usually spend 20 to 10 to take profits and stop loss and I am comfortable with thisQuote:
Originally Posted by alvikfc
forex trading main ziyada profit na bhe ho to order close kar dena chahiye and daily 50 pips le leny chahiye agar mind sharp hain to par usky liye invest bhe achi honi chahiye, and experience ho na chahiye agar experience hoga to phir ye profit easily ho jaega hamen!
zaida ter long term trader hi sucessful hotay hain .es ki wajha ya hoti hai k wo patience sa kam kartay hain .aur hamain apna take profit hamesha stop loss sa jaida hi rakhna cahiyay.:)
It is more important to you that you have to place the stop loss at appropriate level so that you can not get hit the stop loss immediately and you may get profit from that trade. Just go for the charts and get the major support and resistance levels at that place you can place the stop loss.
The point I'm trying to bring out is that it's never exact. nothing in Forex is. But I want you t start to see how and why these are resistance areas. You could just envision all the nervous traders who were long before bar no. 2 collapsed.
Good stop loss should range from 20-50 or 50-10pips depending on the type of trader that you are. The best way to set stop loss is to look for the nearest resistance/support and place you stop loss 5-10 pips above/below it.Quote:
Originally Posted by hafiz00
Yes friend you are absolutely right..
stop loss depends on various conditions... it depend on individual's study, his account balance, his experience etc..
I like today because I can make pips very much than many days. .... While many trader keep the trade till their stop loss limit is hit, they are keeping .... I think it is good that you can get profit from demo account, 5-10 pips per day ..... in for a big pips like 100 to 150 pips daily. but it is not safe to do so. it is only .........
i do not think there is an exact level for stop loss we can take in forex trading. i only can make some caculations about SL base on Pivot daily indicator i use for my chart. i use surpport and resistance levels for set up SL and TP.