How should you set stop loss

[radex78]

Certain trader they can trade without stop loss, but they will use cut loss if likely already trend move on certain point and wait until they have signal to cut loss, but many trader use stop loss especially oif they leaving order it will prevent from big loss if the trend against their order

[uncle gober]

In forex trading, as in life, it is common for people to make the same mistakes over and over again. It’s one thing deciding that we need to learn from our mistakes. In order to know what you should do differently in future, you need to know where exactly you are going wrong. For example, many traders stick with the same stop loss every time, regardless of whether they are trading a 15 minute chart or a 4 hour chart. As a rule, stop losses should be decided on a case-by-case basis, being placed at a strategic point rather than just a fixed number of pips away from your entry point, but not everyone is aware of this rule. For example, if a 20 pip stop loss is working for you on a short time frame, it probably won’t work so well on a chart with a longer time frame.

 

[novarisa]

 

In forex trading, as in life, it is common for people to make the same mistakes over and over again. It’s one thing deciding that we need to learn from our mistakes. In order to know what you should do differently in future, you need to know where exactly you are going wrong. For example, many traders stick with the same stop loss every time, regardless of whether they are trading a 15 minute chart or a 4 hour chart. As a rule, stop losses should be decided on a case-by-case basis, being placed at a strategic point rather than just a fixed number of pips away from your entry point, but not everyone is aware of this rule. For example, if a 20 pip stop loss is working for you on a short time frame, it probably won’t work so well on a chart with a longer time frame.

 

 

 

It's better to consider our mistakes as part of our trading career. Evaluate it well and we will always fixing ourselves to be a better forex trader and gather much more profits in the future trades.

[radex78]

It's better to consider our mistakes as part of our trading career. Evaluate it well and we will always fixing ourselves to be a better forex trader and gather much more profits in the future trades.

Yes making evaluation our trading it will help to improve our strategy, if we maybe often hit stop loss hence we can trying use different strategy  to put our stop loss, if we can making good analysis hence profit will more easy but if still often making bad anlaysis will often loss also

[myregister]

Evaluation ? Do we discuss about controlling loss, setting our stop loss in very good way so it would avoid much more problem in future?, anyway should we set SL? Yes, it's a good feature to use many people would prefer it for sure especially if you don't hvae much time to see the chart.

[hansonudo2]

Not doubt I accept with you that forex is a life changing asset but you must know how to configure it otherwise you get wrong alert which is never that too helpful and its the best step towards making more money in the field of forex

[Godsent2]

Stoploss is a life server not doubt but if you dont know how to use it properly then you may even turn to be a nusance for your trade and this may cause nothing but failure and make yourself a failure trader this is never simple at all

[myregister]

Stoploss is a life server not doubt but if you dont know how to use it properly then you may even turn to be a nusance for your trade and this may cause nothing but failure and make yourself a failure trader this is never simple at all

Stop Loss is just a tool to make your trading feels more automatic, i always said something like this that controlling your risk management would be so much good if you have stop loss, with stop loss a trader don't have to worry about watch the position over and over again.

[tray22]

Stoploss and take profit are the two different thing here so now you need to follow your mind and plans to success.

Stoploss is good and take profit is as well ok its just need us to modify our skills before anything good can comeout from here

[aliforex]

Stoploss and take profit are the two different thing here so now you need to follow your mind and plans to success.

Stoploss is good and take profit is as well ok its just need us to modify our skills before anything good can comeout from here

Both will help us when trading to minimize the risk in forex. Do not forget to more understand market movement then set SL and TP properly. So it will works to help us minimize the risk.

[radex78]

Both will help us when trading to minimize the risk in forex. Do not forget to more understand market movement then set SL and TP properly. So it will works to help us minimize the risk.

Stop loss and target profit still used many trader to manage their risk and money in their account and for learning might will good if we also use risk reward ratio and trying to learn set reasonable target because if having too large target will hard to achieved

[tray22]

Traders know where to place stoploss so it is not a new thing we must place stoploss where it is convinient to us and where we see that it wont affect our profit level at all.

So stoploss is most important asset to us which is good enough but our ability to use it wise is what make us

[myregister]

Traders know where to place stoploss so it is not a new thing we must place stoploss where it is convinient to us and where we see that it wont affect our profit level at all.

So stoploss is most important asset to us which is good enough but our ability to use it wise is what make us

If we want to search it throughly then trader still has some effect when they set SL, it is either good or bad. With cut loss you have total control while with SL you don't. What i want to emphasize in here is there is a time when the market acts like it is so volatile, so when you put SL and it hits SL but few minutes the market slowly turn back and even reach you previous TP then it would be so much hurtful, this is actually the downside of using SL.

[aliforex]

Traders know where to place stoploss so it is not a new thing we must place stoploss where it is convinient to us and where we see that it wont affect our profit level at all.

So stoploss is most important asset to us which is good enough but our ability to use it wise is what make us

It will help us to minimize the risk. and SL is also part of management technique. Demo account should be maximized if we want to earn more profit. Try to discipline our selves when trading because it is the key for us to get more profit in forex.

[uncle gober]

It will help us to minimize the risk. and SL is also part of management technique. Demo account should be maximized if we want to earn more profit. Try to discipline our selves when trading because it is the key for us to get more profit in forex.

 

we must discipline to use Sl on every trade. Having a predetermined point of exiting a losing trade not only provides the benefit of cutting losses so that you may move on to new opportunities, but it also eliminates the anxiety caused by being in a losing trade without a plan.

[tray22]

Yes I like the term decipline we must decipline our self to ensure that we use stoploss as this will help me to get what I want and ensure that my trade is well secure and nice.

Yes such is the right thing which we need to do and even the newbie traders need it as well

[bearhugs]

Stop Loss and its proper position is the question that I am always asked. Stop loss is a must. You have to set a reasonable stop loss even if you are an forex trader. Stop loss should be placed in a position that gets triggered only when the direction you have chosen is absolutely wrong.

[novarisa]

Stop Loss and its proper position is the question that I am always asked. Stop loss is a must. You have to set a reasonable stop loss even if you are an forex trader. Stop loss should be placed in a position that gets triggered only when the direction you have chosen is absolutely wrong.

 

It's a good tool to prevent any big loss that would be happen to your trading position. Use your analysis so you can put your stop loss order properly.

[skyrock]

Stoploss are some of the best and good asset for us but to be sincere I can say that setting stoploss will ultimately depend on the trader and the feeling such trader have but we can say our analysis is what that determine where we can place our stoploss

[tray22]

Stoploss is a good way for any trader to get his or her trade well protected yes that is what happen here when you see that you can trade well then you can move on.

 

Dont forget analys your trade and know the type of loss you want to incure before we start placing the stoploss and tp

[pepy]

Stoploss is a good way for any trader to get his or her trade well protected yes that is what happen here when you see that you can trade well then you can move on.

 

Dont forget analys your trade and know the type of loss you want to incure before we start placing the stoploss and tp

Anyway you should be careful too when want to set stop loss for your trading, because if you set it too low, you may miss chance for turning back. But this kind of situation which also make traders to abandon their previous SL so the result is they prolong their negative floating position and lose more.

[bearhugs]

Actually I set stop loss after understanding the market condition and support and resistance. setting stop loss is very sensitive issue so we must need more careful regarding this issue.

[Levie]

Long term traders too should have the equity to take care of that wide spread. Stop loss is an important tool as it helps the trader minimize huge losses but If he knows it will be pretty difficult for him to implement, lest, he suffers losses instead of loss. 

[kalex76]

Stop loss been set because to protect the trading accounts because no one knows how the market will behave and how the trend will come ,for that to combat the  effect of volatility we have to use some protective tool and that is the stop loss factor .

[kalex76]

Actually stop loss is different for different traders as that depends upon the trading strategy and plan we adopt but yes the main aim of such tools are same and that is the protection of accounts and managing the risk factor.