Are you using stop loss or take profit?

[ali200]

I can never trade without using my stop loss and take profits, even if i trades the longer term that i might leave the trader for days, i will still place these essential rules that will help me to manage my account better in case of unexpected trading. To say the truth, you can not have them absent and thinks you are a better trader.Are you using stop loss or take profit?

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[Gaban]

Stop loss and take profit is part of good risk management. With the SL and TP at greater risk to have minimal so well that we can be successful in forex. for that we need to use the SL and TP

[nurfakih]

Don't ever not to take Stop Loss and Take Profit in your order..!!!

IT's very important than anything.

[Gaban]

of course, the SL and TP are very important in the SL and TP forex.karena then we can trade calmly and greater risks can be minimized with good so that we will get the maximum trading

[⭐ kaito kid]

Dear traders stop loss and take profit there are very important for the forex trading. If you want to success in the forex market so you must usage money management. I think without money management are not possible to earn money in the forex market

[hattairon]

stoploss and take profit is parameter that must be set before trade.

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[⭐ kaito kid]

Here are some methodologies how to set target and stop-loss,

1. Based on strategy
a. No worry about margin call as having enough capital
b. As per strategy suggests target will be at where current trend ends and stop-loss at trend might get reverse.

2. Based on money management
a. Even strategy suggest one SL, but putting different SL to keep loss smaller. May market re-enter as per call and may hit target.
b. Used this methodology to keep in race and cut loss shorter

3. Stop-loss pips = target pips
a. Even opened position based on strategy, luck plays a role here.
b. In long term, might give better results...

4. Stop-loss pips > target pips
a. Having less confident on strategy but more confident on target that is achievable easily
b. Better suits for scalping

5. Stop-loss pips < target pips
a. Having more confident on strategy
b. In long term, might give better results

discipline and planning is required by a trader to minimize risk. However, traders also need an FBS Deposit Insurance that could save the trader when the error oc

Edited July 16, 2014 by kaito kid

[uncle gober]

i think you can open a position either to sell or buy without using a take profit if you are in a strong trend and probably trading from the daily time frame but i strongly advise without using a stop loss, reason being that s single spike can wipe out your account leaving you with regrets. in forex, its better to fight and run and fight another day.

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[Gaban]

SL and TP is mandatory for traders. because forex is difficult to predict, so we need the SL and TP to minimize risk. With SL and Tp greater risks could have minimal so we can benefit from forex.

[deadman]

yes. we need use it. because we can protect our money in balance.

[Gaban]

forex fraught with risks because to be successful in this business we need a lot to manage our accounts with forex baik.karena very high risk. with good risk management then we do not need to worry about the forex. our account will be protected

[Gaban]

SL and TP becomes very important, because with Sl and Tp then we can get maximum results. therefore we need to learn and practice trading well. because then we could try to trade with maximum

[Diaz]

Sure, stop loss and take profit is a part of money management. We have to discipline, Plan your goals, Stick to your plan.

[Gaban]

each trader should use SL when trading. because in forex we can minimize losses with good forex if we use SL when trading. Therefore always use SL to successful in forex

[forexpic]

I think stop loss is requirement, because your risk can be very high without stop loss. Take profit is choice of the trader.

[Gaban]

every trade I always use the SL and TP, because the SL and TP is then I can comfortably because of the risk of trading can be minimized with good so that we are able to trade comfortably

[fxapex]

Stoploss is very good toll for traders , its very important specially in cases when prices drop sharply. You have to be a good trader to use stoploss effectively.

[Gaban]

forex risk is difficult to guess, therefore we need to minimize the risk of forex by trying to use the SL and TP. By trading using the SL and TP at greater risk can be minimized by good

[Tanzil Al Banna]

I am a retail trader! That’s way, I can’t avoid stop loss trading tool actually. On the other hand, I need to use take profit also because this useful trading tool brings best profit for me during my absence. I get NDD technology facility into my live chart from TradingBanks broker, so I have a fresh live trading chart without any technical error.

[uncle gober]

Trading with real money should be viewed as a serious business. As such, you should take the time to ensure that you thoroughly understand the most basic tools of the business. The use of Stop Loss providing security to traders on price movements due to the unstable, especially when there is the news release. I am now trying to use it often through the ECN account in TICKMILL
 

[Gaban]

Forex requires security and therefore, we need to be able to always use SL and Tp when trading, to secure our account of the risk of loss. By always using Sl and Tp then we will be able to able to minimize the risks well and our account will be unavoidable of MC

[bluemac]

I am sure those who neglects the forex market rules and don't try stop losses are merely committing a suicide in forex trading. May be some of them have already blown their account due to this issue.

[Gaban]

On 6/28/2016 at 6:09 PM, bluemac said:

I am sure those who neglects the forex market rules and don't try stop losses are merely committing a suicide in forex trading. May be some of them have already blown their account due to this issue.

In forex trading then we should not ignore the rules because we ignore the rules of forex it will allow us to trade with the maximum. Forex is a business that has a high risk and therefore, let us not ignore forex because forex have a profitable

[ahmadvipro]

I always prefer to use stop loss and even if not, I will often close it myself, Forex is a sort of business where we will never win until we don’t learn to lose, but of course we must not lose on purpose since that will be silly.

[uncle gober]

Discipline is something that must be owned by a trader. Without discipline, we will not be able to maximize MM, trading strategy and trading plan that we have. The key to discipline is to control your emotions, do not easily tempted by the temptations that come.