How many pips do you think is safe for SL ?

[pinpin]

how many pips do you think is safe for SL ?

Many newbies ask me how many pips is safe for stop loss? I think its all depend on how much you afford to lose and we have to put stop loss by checking resistance and support levels, we should not put stop loss just by numbers.

Share your views...

I guess it depends on what time frame that we use
for I usually use a stop loss and take profit 20 20 on the timeframe 15m

[mayengbam]

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.

In my opinion stop loss is a necessary evil for the newbies, its very important to stop the amount of loses using the stop loss because generally newbies learn with a small deposit. And you are right some big traders can do without stop loss because they have sufficient balance in their trading account to manage without stop loss. thats the only difference.

[shibilyt]

I do not agree with you,
I think SL should be set since the beginning of the analysis, since the beginning of open positions.
so we do not need to be confused when the price floting loss.
because if not, cut loss will be strongly influenced by the opinion.

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.

[arjun]

Still now, i used only take profit. Stop loss is unnecessary thing for those whose follow money management. If you found reversal movement, wait for the movement to touch the take profit.
You hedging to make profit. I used 4 stop loss in the trade. market does not my take profit, it always touch stop loss only. So only, i decide this method and following this.

also good if you do not use stop loss but you emphasize on the use or setting money management and it is better according to my friend too

I do not agree with you,
I think SL should be set since the beginning of the analysis, since the beginning of open positions.
so we do not need to be confused when the price floting loss.
because if not, cut loss will be strongly influenced by the opinion.

[blackprince4u]

I think, its better to close the position if we found reversal direction. If we set stop loss in long distance means, we risk more money. Currently i am waiting for the market to touch my take profit. I am not able to trade. So only i mention better to close.

You are right putting sl on long distances is just because we don't want to lose our money and we think that price will hit our tp rather than sl but that is a bad attitude if the trend is reversed don't keep your position open and close it and concentrate on your next trade.

[shibilyt]

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.

[venkiaries61]

if indeed you are often touched stop loss you may need to widen the longer distance of your stop loss price running and this may provide opportunities for the hard hit stop loss

I think, its better to close the position if we found reversal direction. If we set stop loss in long distance means, we risk more money. Currently i am waiting for the market to touch my take profit. I am not able to trade. So only i mention better to close.

[dead]

Still now, i used only take profit. Stop loss is unnecessary thing for those whose follow money management. If you found reversal movement, wait for the movement to touch the take profit.
You hedging to make profit. I used 4 stop loss in the trade. market does not my take profit, it always touch stop loss only. So only, i decide this method and following this.

if indeed you are often touched stop loss you may need to widen the longer distance of your stop loss price running and this may provide opportunities for the hard hit stop loss

[alwi]

also good if you do not use stop loss but you emphasize on the use or setting money management and it is better according to my friend too

oww that so you think if I personally prefer to conduct the installation of SL even though I've set money management is good in my opinion

[denira]

Still now, i used only take profit. Stop loss is unnecessary thing for those whose follow money management. If you found reversal movement, wait for the movement to touch the take profit.
You hedging to make profit. I used 4 stop loss in the trade. market does not my take profit, it always touch stop loss only. So only, i decide this method and following this.

also good if you do not use stop loss but you emphasize on the use or setting money management and it is better according to my friend too