I have always heard.Traders talk of moving their stops to break even. My question is shall we move the sl to the BE only or can we move it to the profit zone so that we can lock some profit. Which one is better??
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I have always heard.Traders talk of moving their stops to break even. My question is shall we move the sl to the BE only or can we move it to the profit zone so that we can lock some profit. Which one is better??
Meri jab bi koi trade 100 pips k profit ma jaye to ma apni trade ka 50% hisa close kr deta hn aur apne stop loss ko profit ma la ata hn kafi bar sirf woh stop loss hit ho jta ha aur kaie bar take profit ko b hit ho jata ha is ka matalb howa k har bar ma apni trades sa profit kamata hn isi liye sl and tp zeydha ahmeet k hamil nai lekin management kafi ahmeet ki hamil ha Forex market ma.
First of all we cant move the stop loss to profit without actually having a larger profit than the stop loss. If you have a good its advicable to lock some profit. It is up to you to decide whether you need to change the stop loss. As said before if you have a large profit it is always better to lock 50% of your profit.
yes of course you can do that, and if you can use trailing stop loss too, it will move with automatically when your order go at floating positive...and with this way the trader can lock their profit when the trend move back and against your order
I think it would be better if we move the stop loss in areas that already gives us an advantage. with it we will not have to worry about when prices will turn around, and we can benefit even if we hit a stop loss.
I think the best way is to stay patient for the whole time duration and be cool and not try to get the results quickly.
The best way to do this is to take the mind off from the trade and listen to songs and don't look at the trading screen.
Naturally the best option is to move the stop to a profitable level but only if market conditions permit this, if we are seeing that market is moving opposite to our expectation and trade and we expect further move it is better to cut the position at that level itself.