I think there is nothing like perfect stop loos.Because Forex trading market is trending market,and here anything could be happened.Sometimes prediction and analysis do not favor. so take profit may be used but having good margin i do not suggest you to use stop loss.Quote:
Originally Posted by Jazpa
Stop loss is important factor than take profit i think so before losing a account in real forex life. i think profit one could gain its not a question just think first to alive the fund for next day trading. now i use stop loss near about 30 or 40 pips and tp in 50 pips.
In my orientation Trading moldiness be through in field. By money management all trades can be finished safely , i use 40 to pips in stop loss confine and 15 to 30 pips in swear profit with a business lot situation. that gives me enough pips.
I use a stop loss and take profit in the ratio 1:5. If I use a target of 10 points then I use a stop loss 50 pips. Perhaps many people are targeting the stop loss and take profit are balanced, but I still prefer to use 1:5.
My dear friend its exactly depend on the market condition.In cool condition its about 30/40 pips.But in volatile mood I set it in a wider space thats may be 100 ips or more.Its also depend on my trading style too.Means where is my desire trade is for short or long run.
I trade with 50 pips stop loss and unlimited pips of take profits. I don't usually place take profit as I keep constant eyes upon the trade and close the position soon as I think the profits are enoughQuote:
Originally Posted by Jazpa
listen my story my friends i am really confuse about that.because i can not determine about stop loss function in forex.I prefer my instincts tell me where I can to get out of a bad trade, mostly the n 'is only 15 to 30 pips at most because i lost 5 times for place stop loss.may be i need to learn about how to determine of balance or volume in instaforex
hi,Quote:
Originally Posted by Jazpa
sometimes i set my order by Target pips 20-30 and stop loss is 100.
i think currently i don't have such a confident to put a small stop loss.
i need a lot more practices to be a good trader like you.
in any trading that I do is use a stop loss and take profit.
and as a reference in determining the price of stop loss and profit ake is to use support and resistance price. is a very good thing to be done by each trader...........
Well it is totally depends upon the trade which we had if we are trading long than i think that the 100 pips stop loss is good enough for me but if we are trading for just few hours than 40 to 60 stop loss is good,Always try to trade according to trend of the market it will helps in making huge profit from the market.