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WE know that Forex is a very good online business all over the world. In Forex they plan a trading strategy, they follow the market, and they divide, track, and decide which currency pair best matches your trading strategy, before you take a position you must set your exit strategy, if the position is a loser, at the level how much are you going to cut your losses, good luck with your Forex trading, and I feel if you are trying for your scalp then you should take a more reasonable prize for risk ratio like 2: 3 or maybe normal: 3, because you have the ability to need to realize additional deployments. so a big reward for risk ratio only makes sense for long trades.
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Stop loss and take profit are very useful for traders. I use stop loss and make profit every time I trade. Support and resistance levels are very important levels for take profit, but when a trader sets a stop loss the trader must add a few pips with support and I try to stick with TP but change my SL when prices will fight me but never set more than 90 SL pips. but there are no rules for using LS and tp in desire pips .. we have to analyze our market or charts using technical or fundamental methods .. this way we can manage our TP and SL
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You don't make any plans while trading, my friend. Planning time is before you start any trade. During trading all you do is follow the rules of your strategy to the letter. If not, you will definitely lose every time. and of course experience is very important for all businesses and especially in this business, when traders have a lot of experience then it is their guarantee to deal with the market well,
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My administrator's loss stop program creates an ideal and balanced strategy that shows you the right way and determines the route someone will use to maneuver, a UN agency that does not follow any strategy is clearly wrong, as a result this often becomes a business of mercantilism while not regulating and no decent approach can succeed in any business king. Forex may be a good business but it requires a number of efforts to improve it.
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in my point of view, I place my stop loss close to this level. if the support and resistance levels are too high then I follow my money management rules. I use 2: 1 risk & reward ratio.stop loss is 200 pips then my tp is 100 pips and I think the perfect stop loss and take profit to trade on the Forex market depends on the account balance and the lot size of the trade, but usually according to my money management take a maximum risk of 3% on each of my trades and with this process I trade in this market.
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I mostly choose my orders only after analyzing the trends I trade with a stop loss of 50 pips and taking limited profits, I usually don't enter take profit even though I use a robot so I mostly choose my orders only after analyzing the trends. and A piece of trade if the industry is trending I raise a place behind to win my income integer, but if the market ranges then I go up **** e my perception to state where I should stop to get out of the despicable craft, mostly this is 15 up to 30 pips at most.
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I also agree with that so it is difficult to make forex money, but it is not impossible or difficult it can be called the second worst job loss. I use and profit every time I trade. Support and resistance levels are very important to take profit, but when it is set to stop a trader from losing, you must add some technical issues to the support and resistance levels. and this is entirely dependent on our equity and our strategy even our money management or risk management basis .. there are no rules or ways to set SL always always .. I think yes we have our TP higher than SL always which can give us winning percentage more and save our equity
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I also agree with that so it is difficult to make forex money, but it is not impossible or difficult it can be called the second worst job loss. I use and profit every time I trade. Support and resistance levels are very important to take profit, but when it is set to stop a trader from losing, you must add some technical issues to the support and resistance levels. and this is entirely dependent on our equity and our strategy even our money management or risk management basis .. there are no rules or ways to set SL always always .. I think yes we have our TP higher than SL always which can give us winning percentage more and save our equity
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Finding the right ETF to buy or sell is only half the battle; having a disciplined exit strategy is what separates the average trader from the profitable one consistently. Most traders focus all their energy on entry, trying to find the right time to buy right before the ETF takes off. While the entry is important, the exit is where money is made or deposited. Failing to have a healthy exit strategy means you are likely to profit too early or too late. Learning to get out of a profitable and losing position is one of the greatest skills you can gain as a trader
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Of course, the use of a stop loss and take profit strategy for me is very effective at Forex for profit and avoid losses. as a beginner, the use of stop loss and take profit is safer to use and also more profitable, especially if our capital is not too large and I have been trading on the FX market for more than 6 months. But now I never use the stop loss option because I open trading transactions with small lots so I get strong support from my capital and I open offers when the good time can come. I use the take profit option most of the time and every time I set 50 pips.
