I always get confused with setting the perfect stop loss. I know how important is to set SL when we trade but I am always in dilemma about how to calculate SL. Can anyone help me out with this issue?
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I always get confused with setting the perfect stop loss. I know how important is to set SL when we trade but I am always in dilemma about how to calculate SL. Can anyone help me out with this issue?
Theoreticly, SL have to be there where is reversal.
So if you are bullish and market start to going agains you, stop is there where you can see
top confirmation.
Long term trading main SL ka tu idea nhi hy but agr ap short term trading krty hen tu support and resistance k hisab sy SL apply krna perfect hy, kiun k hm janty hen k jb price support level ko break krti hy tu wo resistance bn jati hy aur jb resistance ko break krti hy tu wo support bn jati hy ici lye ye levels apko help krty hen SL apply krny main.
You use the profit and loss ratio to calculate how many pips that you are going to set as your SL and even TP. In every case, it is wise that if you are using a target of 100pips, then you will also use a SL of 50pips. I hope you are cleared.
there is no such thing as perfect stop loss. a trader sets it as per his analysis and there is no specific tool which can give a perfect sl target.
generally the reasons around s&r are good resons to set the sl target. and many trader use this method
SL is importance thing in forex ..but its should be set at right point...well for perfect stopp loss order ,,i use PIVOT point because it has more accuracy and easy to use ....
I am still learning the candle sticks and it will take some time but i am sure that it gives good signals and far more better than the line charts.
As far as stop loss is concerned we have to use it in all the trades as we do not want to be in any bad trade that will take away the profits from the good ones.