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

[kitt]

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?

i think that you are right this is a great stop loss and take profit is the best trading way that make you win more than what you loss if you chose the right direction i use this way too.

[lgarhboularbah]

well right now i try the plan of the management that the make 20point at the take profit and the good signal of course because from my experiement i have seen that even the 10 points are very hard to make it and the stop loss by 40points i know its bad plan i am trying it and i will watch you the result

[kampung]

i seldom used stop loss, i just used take profit for my trading , and all can be happen with automatically and it means that i have to see the real condition of the market and then i can adjust my setting and make it relevant..
and besides it if iwant to put stop loss, i have to use the same way with using TP...cut loss is good too and also hedging can lock some losing and we still have chances to make losing become profit

If indeed you are able to discipline the use of cut loss in your trades then I think it's good because the cut loss biasan we will not hesitate in doing it because I was always hoping the price will go in my opinion is wrong

[newentry]

i seldom used stop loss, i just used take profit for my trading , and all can be happen with automatically and it means that i have to see the real condition of the market and then i can adjust my setting and make it relevant..
and besides it if iwant to put stop loss, i have to use the same way with using TP...cut loss is good too and also hedging can lock some losing and we still have chances to make losing become profit

[ishvara]

I think no SL or TP is for sure, because of the nature of such a dynamic market every day, do not forget we are also against the stop hunter, so sl and tp every trader's subjectives

No single number of stop loss or take profits is for sure in forex exchange trading. But it is the risk reward ratio that decides which number of pips that we are to risk/target in the business of forex trading.

[mhiblaa]

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?

for me i use the stop loss always as an order but with hedging i mean that when i open position i put an order that they inverse with the deal and wit the same lot size and i put it wit the pivot point from 20 to 30points and when the order start i wait till the calme of the market and close the order that i have think that the market go against it

[greentrader]

I think no SL or TP is for sure, because of the nature of such a dynamic market every day, do not forget we are also against the stop hunter, so sl and tp every trader's subjectives

[forexprophet]

There is no perfect stop loss or take profit in forex market unless You are an aggressive scalper. The stop loss often varies for all positions. Mostly the stop loss and the take profits are set in the suppoet and the resistance area which increases the trade to be an efficient one.

[samuelkanu]

It depends on your trading strategy and what you expect to gain from the trade you entered.E.g you cannot enter a trade of 10 pips and put a stop loss of 100 pips ,so it depend on reward to risk calculation and generally stop loss are put at areas where there are possible reversal points to safeguard your account incase.

[nilesh]

in a plan to create a stop loss and profit targets will vary the actual rules and systems that will be used every trader or system, although using a strategy that is used in case of finding the OP and cut losses or determine the stop loss and profit targets will vary and will be adjusted to conditions and different situations.