What is your perfect stop loss plan and take profit plan while trading?

[sachin]

This is very small trading plan my friend. How can you do it well? I think your stop loss will be hit first then your take profit. Am i right my friend?

[chirayu]

Well it should depend on what type of trader you are, and you should set your stop loss according to your trade plan. If you trade in a range better to set stop loss just outside the range instead of counting it in pips. Even for other strategies you should not set a very big stop loss as this may result into big losses if a single trade goes wrong.

[xiaotanghao]

Before I make an order in forex,I will analysis the forex trend first.After that,I will make orders with stop loss and target there.Then I can leave the market for a while.

[netra]

may to apna stop loss nearest support ye resistance points say kuch pips kay faaslay per rakhta hoon or isi tarah take profit bhi. phir agar may screen per mojood hoon to apnay stop loss ko or take profit ko next point per bhi set ker dia kerta hoon.

[chetan]

me is plan se bilkul bhi agre nahi karta aur aise plans ki wajah se hi traders loss me jate ai
forex me sl aur tp set karne ke liye traders ko achi tarah se pair ko analyse karna hota hai aur fir uske support aur resistance ki jankari leni padti hai fir uske baad jake trader stop loss aur take profit set karta hai

[iwan]

if you're comfortable and fit with the strategy you are doing and have proven to always make a profit, then get on with it and not have to look for another consideration. because everyone has their own strategy is not necessarily the same.

[krishan]

for scalping there is no perfect stop loss.infact its not advisable to put stop loss for scalping.
because scalping has very low SL value like 10 or 5 pips which can get triggered easily.

[theboy2226]

actually i think it depends on how much capital do i have on my account and the size of the lots i trade with .but when i have like 50$ i set stop loss after 50 pips (1 pip = 0.20) but i never set take profit because some times i take it and i find out later that i would have made much more profit than i took and i regret taking the profit too early
but i think after 50 pips take profit and after 50 pips stop loss is perfect

[ishvara]

I use scalping and long trade sometime but I always have time to watch the trade, so I do not place SL in my order. Actually, I use SL before but the price go back on its trend after hit SL The power of stop loss is a double edge sword.

I mix scalping trading and the long term trading sometimes depending on the volatility and modes of the forex trading markets. I use no SL in the trades that i scalp since i use small appropriate lot sizes.

[faruq]

I use scalping and long trade sometime but I always have time to watch the trade, so I do not place SL in my order. Actually, I use SL before but the price go back on its trend after hit SL The power of stop loss is a double edge sword.