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Stoploss is to safe a trader from a big loss. To set a stoploss level it depend various things. First things is the lot size when i follow market trend and put a big lot i set the stoploss closer but in normal trading i set my stop loss 30-40 pips from my executed price. But the resistance and support level are important to know before set a stoploss.
stoploss setting will depend on the market movement and target profit at that time you open position. some traders who will pay attention to areas of support and resistant to be able to determine how many pips stop lose the amount they use
me to 40 pips tak tp lagata hun apni trade me and 70 pips ja iske upar ka stop lose use karta hun ,abhi tik to je mere lie asha profitable hi raha he lekin age ka pata nhi kya hoga :D
Most of the people use 40 Pips SL and 10 to 20 Pips for TP i don't understand why people take more risk about SL in my view SL or TP will b same and if some one never know's about trading then why he trade into this market first learn trading then came into real world. but people are crazy about money making
yes friends you are right and i am telling you that the pip is price in percentage and the minimum value you want to select fo the pip is the smallest amount of value change in the currency of one thing like if the price of dollar change from 1 dollar to 1.1 then there is a change of .1 in value
without SL in my opinion not a problem because of the small target, but must remain cautious with regard to the trend in length and OP
when the market is not influenced by the news.
If I apply a stop loss that very relatip depends what kind of market situation and it will be loaded on a system's so money doesn't always stick to the managemant of the lot I adjust to a new risk first I determine mm because I wear a strategy then it could be dynamic BBMA stop loss but mostly I wore 30 pips
I used to put Stoploss in the range of 30-50 pips, while the price opposite direction, then I prepare a stoploss or if the movement of the rapid and uncontrolled, then I will do cutloss and exit from the forex market
not any number of pips can save you stop loss untill unless you dont set your stop loss on tehcnical basis, so do not really on number of pips for stop loss setting. always use support and resistance for your stop loss
basically it is true that the market will swing up and down and when there is an increase then one day there will be decreased but the one thing that sometimes limit us why we can not apply the limitations of trading without a stop loss of capital .. when we open the position and at the prices then turned and led us minus endlessly then there will be the name of our funds are not sufficient to sustain our trading position and the system will automatically close our position because of the limited funds we have. it is the limit why stop loss is so important for us that have the funds / deposits are limited ..