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7 Benefits of using stoplosses

Steve B (stevetrade)
Apr 29 at 08:05
posts 1415
You know I was taught to set a stop loss by many 'pro' traders on courses.

But over the years and with thousands and thousands of hours of testing I've discovered that a stop loss is actually a pretty poor way to exit trades for many reasons.

Exiting on indicators is a far more effective way and clearer signal to exit a position than an arbitrary point on the chart defined by a stop loss.

That's my experience anyway.
11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Crotchet
May 02 at 06:03
posts 24
Very well written! There are a lot of benefits to them, and I'm glad someone is talking about them.
Harshelgibbs
May 05 at 06:46
posts 18
Nicely pointed out. Stop loss is indeed very important for successful trading. Stop loss helps in the protection of your money from losses.
trading8man
May 23 at 02:17
posts 8
thats very important
Zootaxy
May 25 at 07:07
posts 20
1. It enables you to effectively manage your finances.
2. There are no spikes to be concerned about.
3. It enables you to increase your profit.
4. Allows you to keep track of and regulate your drawdown.
5. It allows you to plan ahead and estimate how much money you'll lose.
6. It allows you to take fewer risks while gaining more.
7. It gives you the ability to manage your emotions.
Briosody
Jun 30 at 09:44
posts 48
A stop loss is a lifejacket. They not only prevent you from losing trades, but help you cultivate good risk management strategies, which are an important part of being a trader. All traders, especially new ones, should use stop losses to minimise their losses and maximise profits. .
Furbelows
Jul 29 at 09:15
posts 40
Briosody posted:
A stop loss is a lifejacket. They not only prevent you from losing trades, but help you cultivate good risk management strategies, which are an important part of being a trader. All traders, especially new ones, should use stop losses to minimise their losses and maximise profits. .
I couldn’t agree more. Stop-loss prevents unnecessary losses. And if the right money management strategy is used along with stop loss it can also help in maximising the profits.
Yiannis_trader
Aug 03 at 06:45
posts 49
Zootaxy posted:
1. It enables you to effectively manage your finances.
2. There are no spikes to be concerned about.
3. It enables you to increase your profit.
4. Allows you to keep track of and regulate your drawdown.
5. It allows you to plan ahead and estimate how much money you'll lose.
6. It allows you to take fewer risks while gaining more.
7. It gives you the ability to manage your emotions.

Thanks for this info. Well said mate.
Gancy
Aug 17 at 04:34
posts 29
These are great pointers. I’d also like to add a few more:
 
 1. it can help to lock in profits if the market moves in your favor.
2. It can help to provide discipline in your trading.
3. It can help to save you time and money.
venlamoe
Aug 18 at 12:14
posts 32
I can share some of the advantages that have helped me personally. First, I am able to control and make good profits. I can develop appropriate strategies.

Fopdoodle
Oct 05 at 08:07
posts 25
Stop losses are essential for trading perfectly. Many advanced traders don’t use it in their strategy, so it becomes optional but recommended. Using stop loss orders prevents emotions from playing with us the wrong way.
LabuyaChicay
Oct 06 at 11:45
posts 93
Maximum traders trade haphazardly without following any risk management and money management policy and it’s not a good thing for trading they should know.
SteveFx11
Oct 09 at 11:00
posts 145
Making a strategy is the result of persistence, perseverance and hard work. At last, try to select a good trading broker for better trading environment.
Juggerrnaut
Oct 11 at 09:44
posts 18
Stop loss is an important tool for every trader. A stop-loss is intended to restrict a trader's loss on an unfavourable move in a pair position. One significant advantage of employing a stop-loss order is that you do not have to constantly check your holdings. A drawback is that a short-term price change could trigger the stop and cause a wasteful sale, when you could have manually monitored and held the pair for a profit.
WhiteWitcher
Oct 12 at 10:56
posts 71
Oh I would say some other information.

1 disadvantage of using stop loss:

1. It almost always catches losses, even if they are insignificant lol. 😄😄
Wigout
Oct 14 at 09:29
posts 18
One of the biggest benefits of stop loss in forex trading is that it allows you to avoid losing your entire investment. You can only risk the amount you put into your account. By placing a limit on how much you are willing to lose, you ensure that you won't lose everything in one trade.
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