My way of placing stop and take profit!

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Originally Posted by norix

for me to use 50 pip stop loss is too big brother, I use the SL is 30 pips in value, on average barengi system and also in adding more if we open a new position will add a lot bigger

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Well i dont think it will make lot difference if you have 30 pips stop or it is 50 pips but what matters is what is the reason behind setting the stop loss and why you think prices will not go beyond that. If you feel there is a good support below 10 pips there is no harm in setting at stop at 15 pips then.

One rule for placing stops and take profit is place then where its logical and not where its convenient for you what does i mean i mean place them where you know it will allow the trade to breath and where market volatility willnot get your stop . for take profit it really depends on your trading style for scalpers its different from for swing traders

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Originally Posted by liam3

you have a great strategy on that but as a strategy all of us develop our own. for me the most effective take profit and stiop lose is using support and resistant level, with the confirmation of some handdy indicator stoplose take profit is very effective on support and resistant level.

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no doubt you have very good strategy, but I thing sl should be in support and resistance levels because these levels are most importand in tradig, if we able to understand these levels then we can easily maximize ours profit soon and loss ratio will be minimum.

i think, i want to know the method of using stop loss. how to put it and where shall i put it? and some forum members told that it give loss to them and another member told that it will give profit to you. which is correct ? am i little confused

using stop loose is one of the most important tool with trading.if you will place your stoploose in a wrong point then it will be useless and it will work against you.traders have to study about how to place stoploos.there are always some points that as long as we will watch carefully then we can reall gain big profit.but it is a long case we really cant explain all at here.

Yes your system is good. Every time is set my trade with stop lose and take profit. I think it is very good think to set stop lose and take profit. I set my stop lose and take profit with support and resistance level. But most of time is use take profit 50pips and stop lose 30pips it depend on market conditional.

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Originally Posted by narendra

Yes your system is good. Every time is set my trade with stop lose and take profit. I think it is very good think to set stop lose and take profit. I set my stop lose and take profit with support and resistance level. But most of time is use take profit 50pips and stop lose 30pips it depend on market conditional.

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we are always reminded that we was given the freedom by the broker to make a decision between the cut and cover, from there it should be fine because we use stop losses and takeproft is a strategy we reduce the risk of a major

entry is as important as exit ans exit is as important as entry .when you are in a profitable trade those profits are just paper profits until you close the trade . but we cannot capture each and every point so its best to try as much as possible to put our tp at somewhere reasonable

PLease explain your strategy of placing sl and tp by pictures. I think this is not too hard for posters. And for newbies like us will get a good idea from them so please post with pictures. Hoping that you will answer soon.

good opinion, than some traders must also have a difficulty in determining when to take profits stoploos how and how much. to note in my opinion is the distance do not get too close or far away