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Posted

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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  • 6 months later...
  • 2 weeks later...
Posted

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

Posted (edited)

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 by kaito kid
Posted

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

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Posted

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.

  • 2 months later...
Posted

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
 

Posted

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

Posted

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.

  • 3 weeks later...
Posted
  On 6/28/2016 at 11:09 AM, 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.

Expand  

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

Posted

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.

  • 2 months later...

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