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i open any trade than first i search next support and resistance. i put my stop loss near to these levels.if support and resistance levels are too high then i follow my money management rules. i use 2:1 risk & reward ratio.stop loss is 200pips
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Take profit has many advantages. If the market is in a strong movement, take profit is able to deftly put out a transaction, so the profit is obtained directly enjoyed. Thus the take profit will be prioritized to help your trading. Then how consumer take profit right? Let us discuss below.
Definition of Take Profit is almost the same as the stop loss. If the stop loss is used to determine the loss limit, the take profit is the opposite, namely to define the limits of the profit targets we want to achieve. In determining the take profit, we should not be too greedy, set realistic profit targets according to the analysis that we did.
Take profit is the highest price limits or benefits will be. Wherein if the order is affected by these limits then the position will be closed automatically and profit.
Why profit should be restricted? The aim is that profit can be reached easily. Low Target Profit equal to a small profit but is easily achieved. For example, we do open a buy position at the price 1.5640 GBPUSD, then put take profit at 1.5690-1.5700 price, or between 40-50 pips from the open price. Then the price moves upwards according to predictions, but only up to 1.5685 and then abruptly turned away downward. What happened? Profit not be obtained, and it becomes minus.
You can use the TP and SL levels as a strategy. Examples can determine when to close the position has reached so many pips profit, and sell when the price has dropped so pips.
The amount of the target points mentioned above is not absolute, depending on your own as a trader. The question is why should set a target trading. The answer is that we never know what will happen tomorrow, the day after tomorrow, or next week. Perhaps today we profit. Tomorrow we can also lose. Thus it is very important for us to set a target trading. The advantage of using Take Profit are:
1. You do not have to always be in front of the computer to close the transaction.
2. Getting profit big as you want
So, do not get too far in determining Take Profit. Better profit a little bit but consistent, than no profit at all. We have to think realistic and prudent in determining Take Profit, and do the analysis in order to obtain clarity on the price movement. When can we get a big profit, and when we could only get a small profit, and when we must willingly accept the loss.
From the above, it appears that the probability of profit and loss that are at least moderate gains seen. Certainly should be more careful and more skillfully use a variety of analysis to trading. so the result will be much greater. Disty
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I am using the support and resistance area to detect the stop loss and take profit area, I think trading with using the proper stop loss and take profit we can easily get success in every trades, traders need to be skilled and have to get good understanding of the market sentiments.
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dear friend.....i'm continually trade with stoploss and also the stoploss is concerning 30 pips and profit is 50 to firmly 60 purpose. i'm continually buy at ovesold zone and sell at overought..........thanks
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yeah my dear friendsssss...................I usually have different strategy from others I usually use scalping I look for 5 to 8 pips take profit and around 15 to 20 pips stop loss it may seem werred but it works good for me..
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Foreign exchange represents an essential role to find out rates plus the world-wide swap.
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I think the best thing to do in your plan is to work with a positive ratio , I mean that you should always set a target equal to the loss or bigger than the loss , you should always filter the opportunities with this calculations and ignore the opportunities that gives you a negative ratio to guarantee that you will make a profit in the end.
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wakt ki munasibaat say he me trade karta hn aur us ko samjhta hn aur sub ko he yehi mashwara deta hn k yaha pay anay k bad aesay he apnay experience ko grow uo kare aur jitna mumkin ho sake is business me kam kare aur behter stoploss aur take profit ka intekhab kare.tab ja kar he kuch faida mile ga.
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I never look for perfection as it really don't exist. If you really want to trade successfully then really look for different market conditions and stay conscious with different stops and target everytime because this market never use same approach as it turns with scenarios and different market conditions.
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Foreign exchange represents an essential role to find out rates plus the world-wide swap.
