Newcomers don’t like to use Stop Loss which is the inevitable part of trading; they have to ensure more about proper using Stop loss. And they should practice demo account for all time besides live account.
An expert FX trader will always place a stop loss order when making a trade. Some traders dare not comfortable to use stop loss order. If the price trend goes in an unexpected direction, one may lose his/her whole capital.
Some traders use stop loss some don't. It depends on what strategy and system you are using. For scalping and short term trading stop loss is important. Otherwise you may get margin call if you don't use srop loss.
If you are a short term trader stop loss is very important. You can place a stop loss or you can put a stop in your mind but you have to use it. Otherwise in case market goes against you you will get a huge loss. Many new traders get margin call just by not putting any stop loss.
Stop loss is very important for many trades. Stop-Loss protects the trader from unexpected moves. It is never possible to manage risk rewards without using a stop loss. Stop Loss must be used to follow Money Management. All in all, it is not possible to follow the trading discipline without stop loss.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.