What is your perfect stop loss plan and take profit plan while trading?

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Originally Posted by tweaker031

I'm using the method of hedging right now. But its not a traditional hedging style. Its just like an alternative of sl using. I'm placing opposite orders just avoiding losses of the existing orders.

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mere khayal se ye strategy itni zada sucesful nahi hogi..fir bhi aap apna result batana ki aisa karke aap profit nikal paye ya nahi
me hamesha stop loss aur take profit hi prefer karta hon apne trading me kyunki ye mujeh sabse zada safe tarike lagte hai aur money management ka bhi bahut zaruri hissa hai ye

I am always use stoploss and perfect stoploss plan.I will set 30 point stoploss and 40 to 50 point profit.Sometimes I am tern my position and take small profit.

I mostly choose my oder only after analyzing the trends. 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 enough for me.

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Originally Posted by nikam

I mostly choose my oder only after analyzing the trends. 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 enough for me.

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its good that you are atleast fixing a stop loss to your positions. trading without a target is not advisable, take profit and stop loss should be well defined if possible using a tool like fibo or snr

A trader should set stop loss and take profit according to their trading style and profit target.It depends on the ratio they trade in.I trade in ratio of 3:1 so if I trade for profits of 60 pips then i set stop loss at 20 pips.

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Originally Posted by shinde

A trader should set stop loss and take profit according to their trading style and profit target.It depends on the ratio they trade in.I trade in ratio of 3:1 so if I trade for profits of 60 pips then i set stop loss at 20 pips.

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me is strategy se bilkul bhi khush nahi hon bhai aur mujhe lagat hai ki aapko bhi isse change karna chahiye
stop loss aur take profit ka aisak oi bhi fixed ya pre planned ratio nahi ho sakta..aapko hamesha support aur resistence ya pivot value dekh ke stop loss aur take profit set karna chahaiye ..agar ap is ratio ko leke trading karenge to aapke liye forexrisky ho jayega

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Originally Posted by shinde

A trader should set stop loss and take profit according to their trading style and profit target.It depends on the ratio they trade in.I trade in ratio of 3:1 so if I trade for profits of 60 pips then i set stop loss at 20 pips.

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I think, you mostly get stop loss only. How can you able to trade with 3:1, i am scared with this. I used take profit 30 and stop loss 20, even this also not possible for me. Are you having any strategy or analyzing. share here please.

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Originally Posted by Jazpa

I always settle for take profit as 50 pips and stop loss at 25 pips. So far I am successful in making good trades. What are your orders?

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A 70 pips stop loss is a much better option. This is because I have a feeling that if price pulls past 70 pips, it may never come back. From experience, I have seen price run up 66 pips twice and then reverse back in the direction of the prevailing trend. A 50 pip stop loss would have been taken out in such a situation.

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Originally Posted by aadrika

A 70 pips stop loss is a much better option. This is because I have a feeling that if price pulls past 70 pips, it may never come back. From experience, I have seen price run up 66 pips twice and then reverse back in the direction of the prevailing trend. A 50 pip stop loss would have been taken out in such a situation.

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mainme bhi yahi baat bolio bhai jo aapne boli hai..aise koi bhi value leke stop loss ya take profit lagana thik nahi hai forex me
stop loss aur take profit set karne ka poora tarika hota hai jise thik se follow karna chahaiye uske baad hi lagana chahaiye..market ke support aur resistence ki ache se study karni chahaiye .. uske bad jake stop loss aur take profit set karna chahaiye

Well it should depend on what type of trader you are, and you should set your stop loss according to your trade plan. If you trade in a range better to set stop loss just outside the range instead of counting it in pips. Even for other strategies you should not set a very big stop loss as this may result into big losses if a single trade goes wrong.