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45656

Member Since Jun 29, 2019  62 posts 45656 Oct 27 at 06:51
Some believe in mental stop loss placement. meaning that when they feel that a trade is not going their way, they will then cut it off. That is so terribly wrong. Stop loss placement is one of the most crucial keys if you want to make forex trading profitable. Another mistake traders make is that they shift their stop loss. They shift it backwards, thinking that the trade will just go back a little more and will come back their way.

AniLorak

Member Since Apr 18, 2017  813 posts AniLorak Oct 27 at 14:48
45656 posted:
Some believe in mental stop loss placement. meaning that when they feel that a trade is not going their way, they will then cut it off. That is so terribly wrong. Stop loss placement is one of the most crucial keys if you want to make forex trading profitable. Another mistake traders make is that they shift their stop loss. They shift it backwards, thinking that the trade will just go back a little more and will come back their way.


Basically, I always wait for the final result; don’t close my trade in the middle path! That’s my trading rule!

peter_fx

Member Since Oct 19, 2019  11 posts peter_fx Nov 05 at 10:22
45656 posted:
Some believe in mental stop loss placement. meaning that when they feel that a trade is not going their way, they will then cut it off. That is so terribly wrong. Stop loss placement is one of the most crucial keys if you want to make forex trading profitable. Another mistake traders make is that they shift their stop loss. They shift it backwards, thinking that the trade will just go back a little more and will come back their way.

This shouldn’t be done. The basic motive of setting a SL is to cut out the emotional interference in trading, but if a trader does all this, he definitely is getting affected by his emotions, that is why they doing all this. So the main motive of setting a SL is gone.

Baazex

Member Since Oct 24, 2019  43 posts Baazex Nov 28 at 12:00
Trading should be done with proper technical knowledge , demo account trading experience , good capital on hand ,good risk management skills and trading goals should be very clear trader should cut off on the basis of market conditions.

AniLorak

Member Since Apr 18, 2017  813 posts AniLorak Nov 29 at 07:05
45656 posted:
Some believe in mental stop loss placement. meaning that when they feel that a trade is not going their way, they will then cut it off. That is so terribly wrong. Stop loss placement is one of the most crucial keys if you want to make forex trading profitable. Another mistake traders make is that they shift their stop loss. They shift it backwards, thinking that the trade will just go back a little more and will come back their way.


I don’t close any trade position randomly; in my trading I use stop loss trading tool & always wait to face the TP/SL after opening any trade position; that’s it!

Imamul

Member Since Aug 09, 2017  393 posts Imamul Nov 29 at 07:08
practice can make you perfect , but in Fx we practice at random in demo and got nothing ultimately. si, i recommend micro account for practicing.

Adribaasmet

Member Since Aug 27, 2017  739 posts Adribaasmet Dec 01 at 14:31
Imamul posted:
practice can make you perfect , but in Fx we practice at random in demo and got nothing ultimately. si, i recommend micro account for practicing.


Whatever is it; traders need have a long-term plan on practice. It’s a long term process! There is no shortcut way of learning!

Marraby

Member Since Feb 18, 2019  11 posts Marraby Dec 02 at 17:33
For newbies I can agree that, but experienced and professional traders really can predict stop loss and such stop loss changes is the key for their profit. It just depends on whether trader is skilled enough to be guided not by emotions, but mind and analytical thinking.

Anayallador

Member Since May 10, 2019  7 posts Anayallador Dec 02 at 18:38
Every trader has his own approach. I know a lot of people who have done just that. If the day is not yours, it is better to stop. And I saw the stories of those who fought to the last and were not going to let their luck out of their hands. I can't say that one of these approaches is good and the other is bad. Everyone chooses what suits him. Each of us has one goal - to earn money. It is not a big deal that the generally accepted rules do not bring you success if you have found the approach that suits you and helps you to get a positive result.

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