i do not use fixed caculation for stop loss like you. To me, i like to set stop loss with swing. 4 pips under or above break ovens are ther best choice for me. In most time it is rather safe for my trades.
i do not use fixed caculation for stop loss like you. To me, i like to set stop loss with swing. 4 pips under or above break ovens are ther best choice for me. In most time it is rather safe for my trades.
Of course the stop loss is not fixed, rather it is money management and risk reward ratio that a trader should use in calculating it. Nothing is ever fixed in forex trading, i have experienced that.Quote:
Originally Posted by vandexe
i use take profit and stop loss oftenly and altering them with time sometimes proove to be benficial so i start with 20 pips for both but if i see its still rising i alter tp more till 50 pips , and stop loss can be altered to 35.
when you have to place the stop loss and take profit then you must have to look for the major levels on the charts as per view of the trading and you can place the stop loss at that place so that if that broken then you will not lose more than that or you can book your profit at good place.
I think forex is a good job.25 pips is a bit of very tight stop loss. Price mostly moves in long ranges than that, but you are lucky if you are getting good results from it. I always set the SL and TP nearest to the support or resistance level and ofter alter it as the price moves on.best of luck......................
I am forever trade by means of stoploss is concerning 30 pips and earnings is 50 to 60 point.I am forever buy at ovesold zone and put on the market at overought. Its not a high-quality thought to don't post discontinue loss if you contain small assets because you can lose your complete investment in immediately few minutes consequently forever put stop loss to reduce your risk.
for now I still looking the best setting for my trading account, but for now I using 25 pips as the take profit and 50 pips as the averaging point, I did not using any stop loss on my strategy and money management
i dont use stop loss, but use take profit only. i use support and resistent or fibonacci level to place my take profit. i like to use these level to determine my take profit because many times the price hit my TP at that level
no my friend this stop loss is not good in forex because this stop loss may be hit in forex so it is better for us that we should use the more tight stop loss in forex so that we should get the relax money in the market and the stop loss should be at least 70 pips.Quote:
Originally Posted by kumarkhali01
when i open any trade than 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. thanks............