Every successful Forex traders are set up their Take profit and Stop loss point according to, their trading strategy. Your policy is also good but, I always set 15 pips as my Take profit and 50 pips for my Stop loss. Because, price is always ups and down in the Forex market. I am also making successful trades in Forex by this policy.
I always place a stop loss at 30 pips and take profit at 70 pips, I do it when I have high impact on the news early Friday
You must understand how you'll find equities to trade and what are the right locations to look; how to refine your hot list of stocks; the price you are willing to pay for them; how to interpret market indicators and how to read technical stock market reports to help you in trading future equities .
I always settle for take profit as 50 pips and stop loss at 25 pips. So far I am successful in making good trades. I always settle for take profit as 50 pips and stop loss at 25 pips. So far I am successful in making good trades.
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 mostly choose my oder only after analyzing the trends. I trade with 50 pips stop loss maximal 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.
I think it is totally depend on the trader how much pips he use stop loss plan and take profit plan while trading but my opinion and my analysis i use all the time only 85 pips stop loss and 25 pips take profit because i see it is the perfect stop loss and take profit plan for me.
good strategy but i think we should use 50 pips profit with 50 pips loss that is very good strategy i use this and i think we must try to lose at this ratio may be someone disagree with me but i use this for me
I mostly choose my oder only after analyzing the trend. I trade with 50 pips stop loss and take profit limited pips. I usually do not put take profit because I keep a constant eye on the trade and close positions as soon as I think the benefits are enough for me.
Yes we could analyse trends in the forex forex markets before we traders are able to set our stop loss and take profits in forex currency trading business. These SL and TP are too important for a forex exchange trader.Quote:
Originally Posted by mandaufx
When i largely pick this oder primarily just after considering the particular tastes. When i business together with 50 pips prevent the loss plus infinite pips regarding receive proceeds. I actually tend not to typically space require revenue as i hold persistent vision about any business and additionally in close proximity the position rapidly as i believe that the gains really are an adequate amount of for my situation.