My way of placing stop and take profit!

[twinkling star]

you have a great strategy on that but as a strategy all of us develop our own. for me the most effective take profit and stiop lose is using support and resistant level, with the confirmation of some handdy indicator stoplose take profit is very effective on support and resistant level.

no doubt you have very good strategy, but I thing sl should be in support and resistance levels because these levels are most importand in tradig, if we able to understand these levels then we can easily maximize ours profit soon and loss ratio will be minimum.

[ericnyamu]

One rule for placing stops and take profit is place then where its logical and not where its convenient for you what does i mean i mean place them where you know it will allow the trade to breath and where market volatility willnot get your stop . for take profit it really depends on your trading style for scalpers its different from for swing traders

[yogesh]

for me to use 50 pip stop loss is too big brother, I use the SL is 30 pips in value, on average barengi system and also in adding more if we open a new position will add a lot bigger

Well i dont think it will make lot difference if you have 30 pips stop or it is 50 pips but what matters is what is the reason behind setting the stop loss and why you think prices will not go beyond that. If you feel there is a good support below 10 pips there is no harm in setting at stop at 15 pips then.

[norix]

10 pips is too risky to be a point to stop loss or cut loss, even if it is a sideway. Usually I use 50 pips to cut loss or stop loss, according to my experience, 50 pips is safe because I use a small lot

for me to use 50 pip stop loss is too big brother, I use the SL is 30 pips in value, on average barengi system and also in adding more if we open a new position will add a lot bigger

[lights]

10 pips is too risky to be a point to stop loss or cut loss, even if it is a sideway. Usually I use 50 pips to cut loss or stop loss, according to my experience, 50 pips is safe because I use a small lot

[ericnyamu]

there are all sorts of methods to use to place stop los and take profit but one thing is that we have kto use them so that we remain objectionable to the trade . making or using them after a trade has been running might cause you to be greedy and this will kill your a/c as you will want to/or hope that rice will rally more just for the price to fall taking your profits

[twinkling star]

I think 10 pips for stop loss can be easily hit, as new bie has no experience for trading usually open the wrong position then 10 pips stop loss can be easily hit soon, I think stop loss should be avoided, if you can see yours position after few minutes.

[Protech]

Positioning a SL to be able to possibility less funds is a superb item nevertheless aim of SL is actually no case of mind its needs to be based about technical analysis, you need to consider support plus resistance for your individual position than choose your own point of SL.

[sasmita11]

Succesful traders know that no trader is 100% of the time over the long term,so they always have not only an entry price
and profit target for there trade but a also a price at which they will close out there trade should the market move against them.

[sasmita11]

Very good information you have .i have never listion about it.
recently i entered a sell psition whose stop loss is falling on 00 level according to my analysis ,but now i am going to put it on 1.3210 to check the reality of your point