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Mohammadi
Sep 03 2018 at 08:42
886 posts
Stop loss is very much important tool; but I don’t have any fixed number with this tool. In my live trading, I always set my SL based on the distance between support & resistant levels.
Voket EA (voketexpert)
Sep 03 2018 at 08:50
25 posts
so what is the matter. You did it good as well. There is no standard about good SL or bad SL. It depends technique you are using.
Pips are absolute aphrodisiac, so trade with your brain not your lust. Forex will always be the same.
Kel Freeman (TaloR_11)
Sep 05 2018 at 10:53
22 posts
SL standing based on the support/resistance levels is a nice option. The distance depends on the market volatility. Btw, my opinion: SL is using only for your patience. SL is a psyhological tool but is not a part of trading strategy.
AmDiab
Sep 25 2018 at 14:29
718 posts
Good plan mate, I don’t think; it’s a good idea to trade with a fixed SL! I am also following the same way! I always set my SL/TP according to the market’s requirements.
RichPort
Sep 26 2018 at 07:39
9 posts
But what if you use a lot size of say 0.1 Lot and the stop loss is like 50 pips? Do you take that or wait for another trade? I worry about risk reward and drawdown with big stop loss
Adribaasmet
Sep 27 2018 at 07:13
994 posts
RichPort posted:
But what if you use a lot size of say 0.1 Lot and the stop loss is like 50 pips? Do you take that or wait for another trade? I worry about risk reward and drawdown with big stop loss

I think, if your risk reward ratio is 2% then you can open 2-3 trades in a time so smoothly.
AmDiab
Sep 30 2018 at 07:01
718 posts
RichPort posted:
But what if you use a lot size of say 0.1 Lot and the stop loss is like 50 pips? Do you take that or wait for another trade? I worry about risk reward and drawdown with big stop loss

Mate if you trading capital is too narrow like below 100$ than 50 pips SL would be costly, in this case traders can use cent type trading account.
Adribaasmet
Oct 07 2018 at 05:55
994 posts
AmDiab posted:
RichPort posted:
But what if you use a lot size of say 0.1 Lot and the stop loss is like 50 pips? Do you take that or wait for another trade? I worry about risk reward and drawdown with big stop loss

Mate if you trading capital is too narrow like below 100$ than 50 pips SL would be costly, in this case traders can use cent type trading account.

Yes, this type of trading account is very useful for the newbie! On the other hand, 50 pips SL is for only long term trading like swing trading, it’s not for short term trading at all.
FX Ekspert EU (tforexx)
Mar 29 2019 at 11:06
6 posts
It's best to choose S/L according to the market, allowing it room to fluctuate.
CRPA9
Mar 31 2019 at 07:34
21 posts
You should look for risk reward and always make sure its atleast 1:2
AniLorak
Mar 31 2019 at 08:28
920 posts
Mohammadi posted:
Stop loss is very much important tool; but I don’t have any fixed number with this tool. In my live trading, I always set my SL based on the distance between support & resistant levels.

You are with a perfect plan; having a fixed SL target is meaningless since, we traders need to set the SL according to the market context; not anything else.
AniLorak
Mar 31 2019 at 10:07
920 posts
CRPA9 posted:
You should look for risk reward and always make sure its atleast 1:2

Exactly; it’s good consideration; in addition, traders shouldn't expect here any unrealistic profit.
AmDiab
Apr 28 2019 at 10:57
718 posts
AniLorak posted:
CRPA9 posted:
You should look for risk reward and always make sure its atleast 1:2

Exactly; it’s good consideration; in addition, traders shouldn't expect here any unrealistic profit.

Basically; greed traders expect unrealistic profit here! On the other hand, successful traders set their trading targets according to their real time experience.
AniLorak
Apr 29 2019 at 18:56
920 posts
AmDiab posted:
AniLorak posted:
CRPA9 posted:
You should look for risk reward and always make sure its atleast 1:2

Exactly; it’s good consideration; in addition, traders shouldn't expect here any unrealistic profit.

Basically; greed traders expect unrealistic profit here! On the other hand, successful traders set their trading targets according to their real time experience.

In addition; end of the day greedy traders lose their everything; since they have no plan here without money making.
Adribaasmet
Jun 29 2019 at 08:13
994 posts
Money management is the key; without proper money management there is no way to exist here in a long run.
Gabor33
Jun 30 2019 at 07:11
49 posts
Don not use leverage, that way stop loss become much less important.... So you can start focus on your actual trading strategy instead of worrying about losses.
AmDiab
Jun 30 2019 at 09:50
718 posts
Gabor33 posted:
Don not use leverage, that way stop loss become much less important.... So you can start focus on your actual trading strategy instead of worrying about losses.

So you are make dealing with 0 leverage? Or using the small amount?
Gabor33
Jun 30 2019 at 11:10
49 posts
AmDiab posted:
Gabor33 posted:
Don not use leverage, that way stop loss become much less important.... So you can start focus on your actual trading strategy instead of worrying about losses.

So you are make dealing with 0 leverage? Or using the small amount?

1:3 maximum
Frank Martin (frankmartin1)
Jul 01 2019 at 06:01
46 posts
A stop loss is very important for fund security. A stop-loss order is developed to reduce a trader's loss on a position in a security. A stop-loss order eliminates emotions that can impact trading decisions.
AmDiab
Jul 01 2019 at 06:53
718 posts
frankmartin1 posted:
A stop loss is very important for fund security. A stop-loss order is developed to reduce a trader's loss on a position in a security. A stop-loss order eliminates emotions that can impact trading decisions.

No doubt on the value of SL; but we traders need to set the SL according to the market’s situations instead of our own choice! That’s the Moto of SL.
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