My way of placing stop and take profit!

[realman]

Hello Indian, I want to share with you, Wrong placement means wrong profit or lose. You have no right to take it. Because this you could not go ahead. I hope your best day. So I suggest you to take a right placement for real Forex man. It's have right to take. Also it may not give you all time profit. I can confirm you that All good trader can not earn from all trade. For that you need select a trading psychology. Which kind trade you will play. Scalping or day trading. Than you will select pair, than you will select time frame than you will select overbought and oversold market, than you will select support and resistance market, than you will select you right stop lose and take profit area. Yes take your profit or lose confidentially. I hope your best day. Again I request you Please make plan and modify day by day. You will gain sure.

[edison]

yes it is good to put stop loss level 10 or 20 pips below or over oo level it is a good strategy yes i try your strategy in my coming trading session and
tell you in this thread how it works

[alam]

Nice tips, especially the one about the psychological level. It is very effective because most traders put their take profits at major levels like 00 and minor psychological levels like 50. This means that they will ensure push the price to reach this level before taking profit. However your take profit and stop loss should naturally border on your entry and risk to reward allowance.

[ishvara]

Yes, our psychology that we have in forex currency trading can affect us to trade successfully. The placing of stop losses in our trades brings up making of more mistakes if we are taking the wrong trading decisions. We must be careful if we are setting up our TP in our trades.

[norix]

Hi everyone, I just want to discuss about how placement of stop in one's trading play an important role in your profitability as a trader. Some traders want tight stop in order to limit their loses, and some newbies position their stop at the wrong place, making it vulnerable of getting hit. Placement of stop should not be looked as negative thing, its our ally in protecting our capital.Setting proper stop in one'strade will give our trade enough room to make it profitable.One technique in stop loss placement I use is the 00 level, most traders view a 00 level as psychological point where most traders, banks and big institutions considers closing or opening a positions. So my advice to newbies, if your stop falls near or at the 00 level don't put it there, chances are it will get hit easily; sofor example your stop falls at 1.2200, place it 1.2190 for buy or 1.2210 for sell positions, the reason for this is to avoid the 00 level that will likely be reached, and I have experienced it a lot before. I use 10 pips allowance to give enough space from spikes, if you can do above 10 pips then its better but not below it.In the opposite place your target at 00 level because it will most likely be hit.

good opinion, than some traders must also have a difficulty in determining when to take profits stoploos how and how much. to note in my opinion is the distance do not get too close or far away

[ashwini]

00 level means open price of the day...
i am placing my stop and take profit .. with tight **** 30-35... and also follow the resistance, and support level ...

[naik]

The way of placing trades correctly is very important for we traders to learn. This now means that we must learn it. If we are unable to do it, then we will not make the profits that you desired in the business of forex.

[atif58]

Very good information you gave us brother. I have never listen about it.
Recently i entered a sell position whose stop loss is falling on 00 level according to my analysis ( EUR/USD SL 1.3200). But now I am going to put it on 1.3210 to check the reality of your point.

[dog]

hai friends i want to know the method of using stop loss.how to put it and where shall i put it?putting the stop loss in correct position is very important.and some forum members told that it give loss to them and another member told that it will give profit to you.which is correct?am little confused

[da2ng1]

its depend to pair what i choose to trading in that day, for USD/JPY i always make stop loss its 20 pips from target and make target is 15 pips, because USD/JPY movement not realy extreem.