I think its depend on your balance or capital. also depend on your trading strategy and plan. if you trade long term then 200 pips maybe safe or more. but on short term trade 100 pipes is very big for set stop loss.
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I think its depend on your balance or capital. also depend on your trading strategy and plan. if you trade long term then 200 pips maybe safe or more. but on short term trade 100 pipes is very big for set stop loss.
You cant make a standard TP and SL pips beforehand. Since all depend on two factors : the first one is market situation and the second one is Currency pairs itself .
SL is actually a good idea to use to avoid huge losses but SL also sometimes backfire, we use the SL and when prices are already touching the SL movement back then that makes us regret. I have done so far was when I kept playing and stayed in front of the computer so I do not put SL anmun when I lived for a long time so I put SLQuote:
Originally Posted by Anytime
The number of pips depends on the traders trading style that they are applying in their trades. Scalpers set no sl, day traders set about 50 pips sl and the long term traders set hundreds of pips as sl in their trades.Quote:
Originally Posted by Anytime
i think 100 pip or 200 pip is safe for stop loss because the market price move up and move down for all the time and we can make good profit before tha price hit stop loss for the first time.
It is depend of the support and resistance level that where we have to place the stop loss. Stop loss may be place according to the leverage and volume used by you. Proper analysis and money management is very essential for setting proper stop loss.
50 pip is too large distance between open trading point and stop loss point and it take a lot of time to make another deal i think that 25 is more than enough for stop loss .
the lower the profit we make the target I have confidence that it will get better in our of commerce so that way we will have the opportunity to make better of commerce and we also do not have the risk of major trade
I think it is fitting for us to put our stop loss in of commerce with stop loss 40 pips if we are on target 20 pips as this will make you not easy to hit your stop loss a pair, but of course you also need an accurate analysis
You can set based on the money you're willing to lose, example you are willing to lose $2. So $2 divided by the quantity (example 0.1) = 20. If you have gained some pips, you can set your SL in +pips.