placing sl at a distance is just because we don't want to lose our money and we think that the price will hit us tp instead of sl but that is a bad attitude if the trend is reversed not keeping your position open and close it and concentrate on your next trade.
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do you know why maximum experts are not using this ? cause no need to use it if you have good strategy.suppose you place sl and market will touch it.then tell me who will take responsibility ? ofcourse you.but if you trade with patient then you can take profits.Originally Posted by bhai
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
If you have good knowledge about forex analytical matters as well as risk and money management then I think a trader should be take 2% risk of a particular trade. But if you have good analytical knowledge then you have no need to use stop loss use only take profit. This tips only applicable for expert forex trader not for beginner.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Yes, it depends on the market volatility , some says that 2:1 profit and stop loss ratio is good, but I saw in my personal experience that 1:1 is best , by using i cannot make big loss, it should be also depend on your trading strategy which time frame you are trading.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Actually it depends on the present and future situation of forex market. Generally, you can set 100 pips for stop loss. But market seems to goes down, then make it 200 pips from 100 pips. And hop that it will be safe for you.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
yes we can use support or resistance for stop loss or even SAR also.
mostly i will use pivot lines for determining the Stop loss and Profit levels. they are really useful.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
yes,you are right.SL should be decided with Support or resistance and they act as good one to determine.Even pivot points are also good in determining.so one can put SL based on this or specified values like ratio of TP :SL as 2:1 like that.It depends on traders need.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
i think some where about 20-30 pips. but of course it shall be decided according to your MM an plans. risking our money for much extend is always some what stupid .we shall make an appropriate place for SL's in our strategy.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
i don't know but there are many expert and great traders who don't use stop loss in their strategy . may be it depends upon everyone's plan in Forex. and also on MM .
but i do prefer to use a stop loss in my strategy .as i have encountered many situations where i got into deep trouble without a stop loss.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
The SL shall be decided by the traders according to what fit them best. Personally I use a 30 pip SL . I think that is the best thing working on my strategy . i wont want to get a lot of these pips to see in SL.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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