perfect, i agree with this. if we trade short term then we can use SL with a few pips, but if we don longterm trading, we can use SL more than 100 pips. SL depend on our trading systemQuote:
Originally Posted by angaper
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perfect, i agree with this. if we trade short term then we can use SL with a few pips, but if we don longterm trading, we can use SL more than 100 pips. SL depend on our trading systemQuote:
Originally Posted by angaper
With good money management, trader can measure maximum loss which could happen in every transaction but it must be combined with good risk management strategy too so trader can use proper lot size in each condition of market.
If the forex market is something in which you want long-term financial success then you must treat it as such. This means that you must stay informed of international events that can affect the price fluctuations of a specific currency, as well as any new strategies or flaws found in an existing trading system
Stop loss helps a trader to avoid much loss.It closes the trade when the price of the currency hits the stop loss point.For that a trader should set stop loss point in that point where the loss can be accepted easily by the trader.I set my stop loss most of the times at 50 although I close the orders before the price hits stop loss point.
I think we can analyze and predict market movements on that day, so we will be easier to use a stop loss, when the market is experiencing turbulence, then it is better to place a stop loss of more than 50pips, so there is likely to be difficult untouched by the price.
yes thats rights much will you use to stop loss you can know by the time you come analysis some technical market after moving a few pips loss but some times it is not some that must be considered before we enter the market should do technical analysis and fundamental advance that aim to determine the certainty in the open position to take actionQuote:
Originally Posted by JuraganGrowol
but most traders suggest it would be wise if we are using SL,
I almost never use SL, MM because I also really tight.
well it depends upon the need.But always its not wise to have like this TP=SL.
For beginners i recommend 2:1 ratio.
if TP is 100pips have SL as 50pips.So that if you lose a trade also,atleast the last trade's half profit will remain.
yes i think you are correct because before i faced such due to net connection . i just see my position and dont put sl that time thinking that i am infront of pc and that time i lost net connection and that was newyork session and due to heavy movement of market i lost good number of pips . so i think its always better to put sl first then observe the open position.
i agree that stop loss is very important in our trading.Quote:
Originally Posted by sahuri
friend you must use the stop loss. if you did not using the stop loss then one day you will blow you account.