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Stop lose in an effective method to used because will do not know how far up or down the trade will go and this may wipe out your account on the other hand if your stop is not hit and the trade goes your way you will make a profit, How ever it is the matter of how much you are will to risk
There is always money that can be achieved in the Forex. And traders who have plans who help you in making profits, and you should start a successful trading strategy in place. Before you begin to read the tables and indulge in the basics, that is a solid plan is the secret of success in Forex.Quote:
Originally Posted by edison
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hai friend .... I think the strategy is only suitable for traders who have a great balance. but for a beginner like me, I prefer put the stop loss and look for other better opportunities. thanks
Yes, i agree with you. Stop is a tool which available in metatraders software and it is very helpful for traders to use, it can help traders to avoid big loss when there is news in market which is in opposite with trend traders chase for. traders should use stop loss in trading.
One of the best strategy to trade in this volatile market is that you have to use low risk for your trade and as it is your part time income you can trade for the long term as per the economic situation so that you have to keep your trade open for long time then you will get good profit from your trade.
the best strategy depends on your trading style, the one which suits you is the best strategy for you, you only need to know how to manage your trading with it and what pairs to be traded and when to avoid trading with it
When your analysis go true and you should test it on every opportunity in a day without increasing the risks and your lot sizes, you will be able to generate a handsome amount of pips in the end of day.
i think money management is the best strategy to make profit and minimize loss.strategy is needed to earn money doing forex job.if we do not use strategy,we can not earn easily from forex business.
the best trading strategy ever that will help you know the way forward is when you are doing a lot of good trading strategy. swing trading, buy low sell high is the best for me and has proved to be good in returns, but you have to be very careful in determining which is bets to buy low to avoid being cought up in a trend.
you are right but how to lower risk in forex trading, it is not easy for traders to do. We can use stop loss for preventing huge loss in trading but to lower risk, it needs us time for learning and practice for risk mangement skill.