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Admoni
Oct 19 2017 at 06:22
95 posts
There is no specific set up for your stop loss as it will be entirely differ or vary in your trading plan and in your target pips. we need indeed to know how to volatile the market we are trading before , we can set what will be our T/P and S/L/ and we always suggest that every trade will need to use this method as part of their risk management.

TiffanyK (TiffanyK)
Oct 19 2017 at 12:14
427 posts
You are right. Stop loss is very important for controlling your risk. I think it is a must when building your trading plan.

Accept the loss as experience
AmDiab
Oct 19 2017 at 14:29
718 posts
I set my SL and TP position according to the placement of support resistance area! This method helps me a lot to avoid SL in my trading as well as get my TP so smoothly.

Snorre
Oct 19 2017 at 14:31
11 posts
I use ATR to determine stop loss. Seems to work for me and takes into account volatility

Capitalinvestfx
Oct 20 2017 at 08:56
64 posts
Snorre posted:
I use ATR to determine stop loss. Seems to work for me and takes into account volatility


atr is one o the best way to get out ,

lubu
Oct 20 2017 at 09:07
2 posts
what i HATE about stop losses is that they tend to be market orders with almost every broker i've looked at. this means that sometimes you're stopped out not because the market has moved in any direction but because there's no liquidity (e.g. the bid-ask spread has exploded), which is usually THE WORST TIME to execute a trade! you'll save a crapload of pips if you just wait a few hours before you do anything.

right now, i'm sitting on an EURCHF position - not the most liquid pair around. i watched the spread jump to 20 pips during the sydney session even though the mid barely moved around that time. if i had a 20 pip stop loss, i would have been stopped out simply because of the time of day. the spread on my screen is 2.4 pips right now with the mid moving only slightly -- it creates the illusion that the market has suddenly moved 17.6 pips against me and then came back even though nothing really happened.

my algorithms remove stop losses and switch to bids and offers (or buy/sell limits depending on what your platform calls them) during illiquid times - a simple tweak that definitely saves pips.

mlawson71
Oct 20 2017 at 11:53
1487 posts
I have two rules when it comes to using SL - one is to have a broker where the spreads to don't widen randomly and the second is to avoid trading during news events altogether, because in that case spreads do widen a lot, even if your broker is good.

AniLorak
Oct 22 2017 at 06:31
920 posts
AmDiab posted:
I set my SL and TP position according to the placement of support resistance area! This method helps me a lot to avoid SL in my trading as well as get my TP so smoothly.


What’s your opinion about intraday support/resistance level? Do you use both long-term and short-term time frames for drawing S/R levels?

NyNFinancial
Oct 22 2017 at 06:32
20 posts
The stop loss is one of the best tools of the big players of the interbank market, to transfer capital from retail traders to them. Or do you think that they can not move the price, breaking the stop loss levels, buy positions at a low price, and then break buy stop levels, to sell those positions, but at a more expensive price?
Come on ... wake up guys.

Ganando dinero en el mercado FX. Earning money in the FX market.
AniLorak
Oct 22 2017 at 06:45
920 posts
Snorre posted:
I use ATR to determine stop loss. Seems to work for me and takes into account volatility


Do you use default parameter or any particular sittings?

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