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

[vickymughal]

Take profit option is given the Forex to us for our good. So we have to understand and use this option. It is so tough to control our emotion while trading. Though Forex is the most volatile market so it is so difficult to control our greed and emotion. Stop loss help us to control our emotion and greed while trading.

[mehrab70]

IN my view of trade, i do it only my strategy and it is= i always try to make profit only 26 pips and stop loss only 7 pips ,and that's why i become more and more experienced in Forex market.

[kuddusali]

support and resistance levels are too high then i follow my money management rules. i use 2:1 risk & reward ratio i've already put the stop loss in each open position and a cut loss order if my total capital is reaching the limit that i setups.

[horibol1]

I am always trade with stoploss and the stoploss is about 30 pips and profit is 50 to 60 point.I am always buy at ovesold zone and sell at overought. I mostly choose my oder only after analyzing the trends. I trade with 50 pips stop loss and unlimited pips of take profits. I don't usually place take profit as I keep constant eyes upon the trade and close the position soon as I think the profits are enough for me. good job.....................................

[hakim555]

Here come the non-glamorous hard working nuts and bolts of trading, trade money management but none the less important.How to manage your risk.You see it does not matter how perfect you think your strategy is at some point in time it is going to go wrong.

[fxcare]

i think the stop loss is very low and if you are scalper then it will good for you and if you are day trader then it is very small .it should be minimum 80 to 100 pip and if you are using short stop then the trade is very risky.

[aihuem]

I set the take profit and stop loss based on level of support resistance, because in my opinion to use support resistance as the determination of target take profit and stop loss is wise, because prices ever move or touch that area

[amidon1]

We open any trade than first we search next support and resistance. we put my stop loss near to these levels. If we support and resistance levels are too high then we follow our money management rules.

[habibsyl]

I always settle for take profit as 50 pips and stop loss at 25 pips. So far I am successful in making good trades. What are your orders?

A fact of Forex trading is that most traders take their profits as a result of an emotional impulse instead of exiting the market at a pre-determined target or from a pre-planned exit strategy. As a result, traders who exit a trade on emotion typically take much smaller profits than they would like, while traders who exit a trade based on logic and discipline typically are very happy with the profits they take.

[reham]

deal with stop loss and stop loss is around 25 or pips profit is 50-60points, all of it, select only my after analysis of the trends, receives or is generally not place profit when staring at the shop and closed position after I think the benefits are enough for me.