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Rosstaylorr
Jan 22 at 09:28
24 posts
philipsimmions posted:
Stop loss is a little bit complicated but I don’t think we should completely ignore it, rather it should be studied first than saying it is good or bad.

There are various types of stop losses which are offered by the broker. My broker Fxview has provided me with the trailing stop loss. In this condition no absolute value for the stop loss is set, it is a percentage of the value of the asset. In the long run, I have also invested in the cryptocurrency through XTB, stop loss becoming irrelevant. So stop loss is a very situational tool.

philipsimmions
Jan 22 at 09:55
25 posts
Rosstaylorr posted:
philipsimmions posted:
Stop loss is a little bit complicated but I don’t think we should completely ignore it, rather it should be studied first than saying it is good or bad.

There are various types of stop losses which are offered by the broker. My broker Fxview has provided me with the trailing stop loss. In this condition no absolute value for the stop loss is set, it is a percentage of the value of the asset. In the long run, I have also invested in the cryptocurrency through XTB, stop loss becoming irrelevant. So stop loss is a very situational tool.

Markets are so unpredictable that I would say they are an asset across all situations.

niceGLer
Jan 22 at 10:32
164 posts
Stop loss is a safety net or a backstop so to say, it should be put far enough for preventing a catstrophic event, such as the black swan of unpegging of the EURO and the CHF. Otherwise, everything should be implemented programmably or by constant monitoring of the trade.

niceGLer
Jan 22 at 10:55
164 posts
philipsimmions posted:
Rosstaylorr posted:
philipsimmions posted:
Stop loss is a little bit complicated but I don’t think we should completely ignore it, rather it should be studied first than saying it is good or bad.

There are various types of stop losses which are offered by the broker. My broker Fxview has provided me with the trailing stop loss. In this condition no absolute value for the stop loss is set, it is a percentage of the value of the asset. In the long run, I have also invested in the cryptocurrency through XTB, stop loss becoming irrelevant. So stop loss is a very situational tool.

Markets are so unpredictable that I would say they are an asset across all situations.

I immediately realized that there was in any way no stop loss that could have prevented losses arising from unpegging of Swiss Franc. Money management could have been one.

momo3HC
Jan 26 at 21:02
164 posts
In short - SL is a must but you must know how to use it properly.

lanayates
Feb 20 at 04:50
14 posts
That is right. But in the right situation, it can actually save a trader from any higher loss. Quite an effective tool, I’d say.

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