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I myself have never put a stop loss, but I think it's very bad stop loss once, if we could not put right, so in order to put a stop loss that wasn't just a few pips, but with analysis and preferably placed 15 pips above the resistant and 15 pips below support.
I think instead of how many pips are safe to put a stop loss. but more important is that we find the right spots to place the stop loss, because in a way it would further reduce the possibility of price movements stop loss hit. Perhaps by identifying support and resistance points first, and then we can put a stop loss at that point, and I think it's safer.
Most of the time i do not prefer to use stop loss. I think it is not a good thing to use for every single trade. If you have strong back up, then you do not need to use this. Actually pips on stop loss depends on then market situation. On an average 100 pips will be good for stop loss.
This depends upon the volume you trade with and the profit you want to make because some time the trade goes from loss to profit. Stop loss can be put at 50 pips,40 pips or 10 pips if your lot size is the lowest. Using it is best then losing money.Quote:
Originally Posted by anubhavsingh
i favor to utilise 40 to 50 pips for stop loss. as a result of the majority of the time market move back once 25 to 30 pips. and in previous having been loss additional balance with small stop loss. therefore i probably will make sensible profit in that stop loss.
Pivot points are really good tools to use in setting stop loss and take profit targets
but the important thing about setting your stop
You should place stop loss on not more then 50 pips because if you are trading long then this is reasonable amount of pips but some make it longer because they think that the trade will go from loss to floating profit which is a good sign.Quote:
Originally Posted by anubhavsingh
if you are really good trader or not and if you had enough experience or you still need more practicing and working how you can determine take profits and stop loss very well and in the right way , this really the most important thing in tradingQuote:
Originally Posted by fxbrother
mere khyaal se sl 40 pip ka safe hota hai itna sl sai mana jata hia mai itna hi use karta hun yadi adhiktam use kai to 60 ka use kia isse jayda nhi use karta hun kyoki isse jayda phir galg ho jata hia
its all depends on your managing ability and your skills of running trade ..if you have proper knowledge about using of stop loss and know that at what time positions should be openand close then you can use pips for SL as you want according to your desire..it will be better to choose according to your desire not according to others..