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Before, i trade , i do set my stoploss in such a way that it will be two times smaller than my taker profit. So that is why most of the time, i used to be on the profit side. So having a risk to reward ratio is very important.
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whereas trading in case the market is trending i like a trailing stop out to manage my profit issue, other then in case the market is ranging then i like my gut feeling out to tell me places to place stops out to get out associated with a wrong trade, mostly this can be 15 out to 30 pips at most
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to actually succeed with this journey you can not afford to actually lose far too much. manage risk simply settle for the things you get and relish the ride. this manner you'll trade a lot of freely and creatively. dont live life in denial.
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i continually create concerning 30 pips stop loss and endless pips of take earnings. i dont sometimes position take profit as i keep continuous face upon the business and close to the positioning soon as i feel the earnings are enough for myself. i take advantage of maximum 3% risk from my capital.
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the proper take profit for myself depends inside the time frame i'm using. being a rule, what i do is on daily, i target 250 pips, 120 on 4hr and 50 pips on 1 hr. as for stop loss, i take advantage of either resistance and support ares and even the trendline to work out places to place it rather than using numbers.
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me ne abi tk stop loss and take profit ka koi b plan apny mind me nai banaya me forex trding me new hon aur abi tak me stop loss and take profit k begair trading kr raha hon aur me achy profits bi earn kr ra hon to is liye me abi complexity me parana ne chahta.
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Profit is important to use the plan should be good and there is an alternative plan in case of failure of the first is used
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i don't really like forex very much because it takes a lot of money from me.i think that forex steals much more money than it gains in the end unless you are an expert trader that means having a good plan and good discipline,and strategy
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Most of the time i try to look for the technicals charts as they show one of the good levels on which we can place the stop loss and take profit so it is one of the best way to place stop loss and take profit and follow proper money management.
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i think it will depend on condition of market , if the condition is trending we can set big TP and
big stoploss but if the condition of market is sideways we dont have to set big stoploss and big take profit.
