I also agree with that so it's hard to make money forex, but not impossible or difficult it can be called the second-worst losing job.I use and profit with every time I trade. The level of support and resistance is very important to take advantage, but when it is set to halt the loss of a merchant, trader then you have to add some technical problems with support and resistance levels.
this is fully depends on our equity and our strategy even our money management or risk management basis..there is no rules or way to set a fixed SL always ..i think yes we should us higher TP than SL always which can give us the winning percentage more and save our equity
yes you are absolutely sure, you need to use the stop loss and take profit on every trade . I usually use a stop loss of 30 pips when am not sure from the market direction and set the take profit the same.Quote:
Originally Posted by Jazpa
when i do scalping i use 20 pips take profit and 10 pips stop loss .but when i trade in a long time frame i use 30 pips stop loss and 60 pips take profit ,it is better to me ,and i do not take over 9% risk on my capital , because at first i want to stay Forex then i want to earn money from Forex market .
hello friends it totally depend market condition some i set stop lose 50 pips and meximum time set 35pips also set take profit 25 pips
while trading if the market is trending i prefer a trailing stop to manage my profit factor, but if the market is ranging then i prefer my gut feeling to tell me where to put stops..also sometimes i use fibonacci channel for tp and sl..thanks..
i make some of the good planing for my take profit and stop loss i just put it on the pivot point level, support and also the resistance level too i think that is also can helping me really much on make the trading on the forex business so that can being the great thing
A bit of a hard stop loss 25 pips. Than the value of this distance is not returned, but if you are lucky you can get the best results. I always set SL and TP support or resistance level, and ofter to change it from the closest, not including the price.
25 pips is a bit of very limited stop-loss. Cost mostly goes in long varies than that, but you are fortunate if you are getting great outcomes from it. I always set the SL and TP closest to the assistance or stage of stage of resistance and ofter modify it as the cost goes on.
for me i not use a certain stop loss or take profit points and i depend on each deal separated and depend on the analysis to expect the perfect value of them according to this analysis and then put them and wait to see the result of my planning to improve it to be better .