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Importance of Stop Loss
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Mohammadi

Member Since Aug 11, 2017  787 posts Mohammadi Nov 03 2017 at 14:00
in this volatile trading place devoid of stop loss you trading condition can be as like a ship in an ocean without a rudder. So it’s an inevitable part of trading. We have to set stop loss according to previous support and resistance level. However, any form of strategy has different rules in point out stop loss level. Even some traders choose to use manual cut loss. and does not use stop loss tool. Since they are implement scalping technique and always monitoring the trade.

TiffanyK

Member Since Feb 12, 2016  427 posts Tiffany (TiffanyK) Nov 08 2017 at 09:14
Just reduce your risk and use Stop Loss. Thank you.

Accept the loss as experience
AmDiab

Member Since Apr 18, 2017  672 posts AmDiab Nov 08 2017 at 15:51
You can protect your loss percentage by using stop loss trading tool! I use SL positions in my trading so willingly!

AniLorak

Member Since Apr 18, 2017  883 posts AniLorak Nov 08 2017 at 15:53
When I was a new trader, then I didn’t use SL; as a result I faced huge losses in my early stage of trading! But now, I am not facing this kind of problem because of using SL’s in my trading! That’s the real difference.

CarlFooty

Member Since Nov 08, 2017  11 posts CarlFooty Nov 08 2017 at 15:53
Always use a stop loss. Price can move a 1000 pips in a second if there is some crazy news. Look at CHF a couple of years back

AniLorak

Member Since Apr 18, 2017  883 posts AniLorak Nov 12 2017 at 15:56
CarlFooty posted:
Always use a stop loss. Price can move a 1000 pips in a second if there is some crazy news. Look at CHF a couple of years back
That was the memorable crash! Many traders even brokers crash their balance during that news session!

mlawson71

Member Since Dec 11, 2015  1487 posts mlawson71 Nov 13 2017 at 15:17
Price doesn't just move that much during such news, spreads often get incredibly wide too, which adds to the problem.

BaldoN

Member Since Feb 12, 2016  522 posts Baldo (BaldoN) Nov 16 2017 at 10:53
AniLorak posted:
CarlFooty posted:
Always use a stop loss. Price can move a 1000 pips in a second if there is some crazy news. Look at CHF a couple of years back
That was the memorable crash! Many traders even brokers crash their balance during that news session!


Such movements of 1000 and + pips may occurs when a Central Bank is intervening on the market - not just regular or usual news. In this case the stop loss does not help, because the trade will be filled on the first possible price :)
I am strictly for the stop loss using and to avoid such movements and bad fills stay away when banks intervene :)

Adribaasmet

Member Since Aug 27, 2017  859 posts Adribaasmet Nov 16 2017 at 15:30
AniLorak posted:
When I was a new trader, then I didn’t use SL; as a result I faced huge losses in my early stage of trading! But now, I am not facing this kind of problem because of using SL’s in my trading! That’s the real difference.
Same experience! I was also tried to avoid SL and trail stop in my beginning trading sessions! But right now I am not! Because, now I am very much sure about the importance of SL position.

Klem

Member Since Nov 21, 2017  20 posts Klement Horacek (Klem) Nov 29 2017 at 15:44
Hey. Be honest with yourself and stick to the strategy. If you know how to control yourself and stop trading on time, then you do not need a stop-loss. I'll tell you more, your stop-orders are your psychological levels, which usually come true. Just follow your strategy.

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