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

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Originally Posted by s19

well when 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 then my tp is 100pips..

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Forex or foreign exchange market is one of the largest retail markets, as well as among the most unstable. Forex trading can be done either manually or buying and selling through a broker or financial brokerage firms. It can also be done using automated process software or expert also known as Forex robot.

my stop los plan is to buy 20 pips take profit, then protect it, 20pips stop loss, it really helps a lot and I always make some money out of it. and to tell the truith, I make more than that on trading.

i prefer to have fixed stop loss in all my trades and i like it to be very small, i make all my positions with 20 pips stop loss because i consider it losing position and wrong analysis when it floats more than 20 pips in minus

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Originally Posted by Chelsea91

i prefer to have fixed stop loss in all my trades and i like it to be very small, i make all my positions with 20 pips stop loss because i consider it losing position and wrong analysis when it floats more than 20 pips in minus

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that just depend on you to set it, i have also thinking that i do not want to use more stop loss on my trading because use too much stop loss it will possible to make me to loss more money, and some time that is not safe for us to use too much stop loss on the forex

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Originally Posted by Anand

I am always trade with stoploss and the stoploss is about 30 pips and profit is 50 to 60 point.I am always buy at ovesold zone and sell at overought.

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In my usual strategy i use exact 1:1 win to loss ration means i use same stop loss that i target in profit. But when i have to catch tops and bottom at that time i use big stop loss but use take profit more then that and usually 2 to 3 time of that stop loss.

I think you take long term trade, I set TP 20 pips and SL 15 pips. It does not take more times to hit my TP. My target is 60 pips daily, i am trading minimum three times in a day.

The first part is important because it shows that it wasn't some knee jerk move down (just to come back up again). There was a further continuation down, which would scare all the hysterical long traders even further.:)

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Originally Posted by lulu50

my stop los plan is to buy 20 pips take profit, then protect it, 20pips stop loss, it really helps a lot and I always make some money out of it. and to tell the truith, I make more than that on trading.

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we use the lower the risk and trade targets I think this is one part of a good plan in our trade as this will make you be more secure in this trade as well and I will try to use a much lower risk in this trade

Setting stop should be determine by your strategy, how many pips can your strategy give you, then you should know how many pips to risk.

i don't use stop loss trust me i use take profit if i am doing swing trading or position trading otherwise if i am not trading in my computer and we can give the perfect take profit if we have a good market analysis otherwise if we give th3e price which will not happen in life then we will not get it and the chances are losing the profit in hand.