am trading in demo account from last months.
i am trading without using stop loss but initially i got big loss.
so i decide for setting stop loss in scalping trading also.
i set stop loss high and low of last three candle.
am trading in demo account from last months.
i am trading without using stop loss but initially i got big loss.
so i decide for setting stop loss in scalping trading also.
i set stop loss high and low of last three candle.
I am ever use stoploss in forex activity.I am endure get at 40 pips and stoploss 25 pips.some dimension disposition were not angelical for me or against me then I am winning hastening decision and see minuscule earn.
setting the stop loss and the take profit may varies from the strategies to strategies and i never use stop loss in my trading because i set the stop loss manually means i ama always in the front of the terminal when my positions are opened
I usually determine takeprofit and stoploss based on technical analysis because I think that we can not set our fixed and the market is always moving without rules
If you are long term trader then its not good SL and TP. In long term trading SL and TP is select on base our trading system or analyses. According to my money management and trading system my stop loss is 250pips and TP is not fixed.
For me my risk reward ratio is 1:2 so i look h4 time frame CCI indicator and decide how much pips i can gain ( CCI is trend identifying indicator and very usefull for my trading methode ) and then i put half of that as stop loss and look 15 min chart and wait for retracement then enter to markets !!
i also think that reward to risk ratio must be like 2:1 or 3:1. so that you can make more than half mistakes and still end up getting profited. its really a good technique, but one thing is that its not applicable in scalping.
Using stop-loss orders for every transaction, automatic stop-loss exits from the open position profit or close to you depending on the point identified
My perfect stop loss and take profit plans are the major Fibonacci levels that re 60.8 and 38.2 levels, i like them and the 60.8 level is much stronger then the 38.2 levels, here the chance of retracement may be much higher..Quote:
Originally Posted by Jazpa
it completely depends on our method and analysis way ..if our strategy works for 50 sl then we should it ...but all depends on the current market research and technical analysis..i will try to set sl 40 and tp 90 most of the time and using 15 sl and 7 tp for scalping