You don't make any plan while trading, my friend. Planning time is before you start any trade. During trading all you do is following your strategy rules to the letter. Otherwise you'll be bound to loose every time.
You don't make any plan while trading, my friend. Planning time is before you start any trade. During trading all you do is following your strategy rules to the letter. Otherwise you'll be bound to loose every time.
As a new trader I have no perfect stop loss plan and take profit plan. I am searching for a experienced trader who can help me to make a plan and I will make a plan and by applying those I will be a good trader.
I dont have fix stop loss and take profit..
because nowadays i learn ichimonku,,i put the stop loss and take profit based on it..
of course experiences are very important for all business and especially at this business, when the trader have much experiences then it become their garranty to face the market with good,
experiences is the best teacher for the next forward
i dont prefer from my experience to use a fixes stop loss and the value of my stop loss changes with the strategy i use and with the condition of the market day by day.
i never use stoploss in my trading because i know every broker have stoploss hunter,,,
i just close my position base on the condition of market that i trade...
I am trading since long term so in my long term trading my first and last stop loss is 60 pips. now day i am trading and learning scalping but i am really can not find out what is the right stop loss.. i test in demo i find if i trade near to support and resistance then there is no need to set stop loss trade will close with 10-15 pips take profit.
for me
I settle for take profit as 60 pips and stop loss at 40 pips
So far, I consider a good trader
But in general I have not had the desired profit
Quote:
Originally Posted by Jazpa
hi traders,
i think it's necessary to post stop loss if you have small capital because you can't lose your whole investment in just few minutes so always put stop loss to minimize your risk
well my stop loss is set at 5 pips and take profit is set at 15pips. i do scalping and open fairly large lots. so i cant afford to let the market fluctuate too much since my tradin capital is also low. that's the reason for the very small stop loss and the relatively small take profit margin of pips.