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When to stop.

AniLorak
Nov 29 2019 at 06:36
posts 920
Shalidor posted:
I think it's all relative. There are a lot of strategies now that simply won't work with such an approach. Of course, if you remember about the reserve and the amount of capital in general, if it allows, and you do not let the situation go on its own, and constantly analyze what is happening on the market, then even a narrow stop will not limit you from the profit. Again, everything depends on how each trader is used to trading. I always have some disputes with my friends in the sphere, because absolutely everyone has their own opinion. Everyone already has some experience and copes with these or those situations in different ways. Therefore, it is impossible to say that this approach can become universal and help in any situation without exception. Just try what will suit to you.


Basically, traders need to set their stop loss trading tool according to the market situation; anything like fixed stop loss is meaningless here; that’s the point!

LyudmilLukanov
Aug 31 2020 at 16:07
posts 793
I determine my SL according support and resistance level. I always set 5-10pips lower than my determine level. That’s the way I can reduce loss of slippage.

AliaDare
Sep 01 2020 at 00:40
posts 788
Setting a stop level in trading also falls into the trading skill. Stop levels are sometimes seen to be very narrow due to which frequent stop levels hit. The stop-level is used to protect the account from the unexpected moves of the market. To have success in trading, it is essential to use stop level if you want to focus on money management and risk management.

Michihito
Sep 01 2020 at 14:28
posts 298
Yes placing stop loss is an art. Where to place stop loss depends on your strategy. But one thing you need to consider while placing a stop loss which is support and resistance. You also need to consider spike.

Honest_Fx (Curtid33)
Sep 01 2020 at 14:44
posts 49
I always set stop loss, but very rarely do I let them hit. By the time a trade approaches that point, you should spot those signs of reversal early on and cut your loss short. The sl for me is used in the case of a sudden news event that causes a spike out of my control. Then it serves as the maximum I was willing to lose with that trade.

jonny99
Sep 02 2020 at 07:13
posts 32
Many people hesitate to use a Stop-loss. When in reality stop loss is a great way to keep your losses restricted.

inspirenez
Oct 09 2020 at 11:06
posts 59
The market situation plays an important role when a trader is setting a stop/loss to limit losses.

philipsimmions
Oct 23 2020 at 05:12
posts 42
If you want to have good money management and sufficient risk management, it is better to see when to stop. Placing a stop loss will also depend upon the strategy you are using. It is a good way to manage risk.

UweMoench
Oct 24 2020 at 11:39
posts 751
Money management is the key for trading success. Stop loss is also important if you do not able to predict the for long term. But the placement of stop loss is very crucial. You need to have good idea about support and resistance level to place an effective SL.

antonyhollinwooe
Oct 26 2020 at 07:47
posts 34
Yes, that’s true. Every trader must learn to set their stop-losses according to the market conditions.

Landakus
Oct 30 2020 at 10:31
posts 24
There are those who never know when they should stop trading because the have their emotion out of check. They therefore want to make more trades and gain more money faster which is a sure way to make a lot of losses in a very short while. If you want to make it then you need to know when to stop. That is very important.

Wittonlord
Oct 30 2020 at 12:36
posts 12
You know that you should stop when all you are doing is making losses. As much as everyone can join forex. It does not mean that anyone should join. If it is not working out for you then you need to know when to quit instead of taking a lot of time trading only for you to fail in the end.

Tony Pipsy (Kingace)
Oct 30 2020 at 13:41
posts 43
TheGreatRecycler posted:
I set my stop loss at 20% of my equity. This is working really well for me, haven't had a losing trade all month


This can be achieved when you 'KNOW' the trend and you make sure you always trade with the trend

Tony Pipsy (Kingace)
Oct 30 2020 at 13:43
posts 43
AmDiab posted:
fancydandy posted:
I have seen some comments stating that some random stop loss is a way. Never ever do a random stop loss because it is like randomly study a part of topic thinking it will surely coming in the exam while ignoring other, as a result, you get a poor grade. That is like with random SL. Randomly setting SL leads to potential loss.
So for me, I always put the SL based on the market conditions and risk management.


Good choice; same from me! I always set my SL & TP according to the position of nearest support & resistant levels;


This can also prove to be a wrong trading strategy these days, i mean take a look at Gold, price takes out any recent swing high or swing low before changing direction again

lovefortrading (perryjohn765)
Oct 31 2020 at 07:49
posts 238
Stop loss is most important in order to save your account from getting blown out.

SteveHanks
Oct 18 2021 at 11:25
posts 536
Wittonlord posted:
You know that you should stop when all you are doing is making losses. As much as everyone can join forex. It does not mean that anyone should join. If it is not working out for you then you need to know when to quit instead of taking a lot of time trading only for you to fail in the end.

Yes. you are right.

reggae
Oct 19 2021 at 07:58
posts 70
Stop loss is an essential when it comes to forex trading, well generally all trading apply well.

ForexViking69 (ForexViking69)
Oct 19 2021 at 10:01
posts 40
It took me a while to stop chasing the losses. Now I have a set and forget mentality when executing trades. As long as I plan ahead set AL and TP I have no reason to be constantly eyeballing trades and worrying about making back the losses.

Seb King (sebking1986)
Oct 19 2021 at 10:16
posts 364
Aim for high probability trades based on your backtesting and forward testing and place the stop accordingly. Ensure the risk taken with this stop is always in line with your stategy (1-2% is normal). If everything is in line with your strategy which I assume turns a profit in theory then you have sufficient win rate and RR that the potential for a 1-2% loss won't impact you long term. Trading without a stop loss however is kamikaze.

If you can't spot the liquidity then you are the liquidity.
LarssonWilliams
Oct 19 2021 at 11:14
posts 15
I believe, there is nothing bad in taking a break or stop trading if you are facing continuous losses. If you don’t really enjoy the challenge of trading it may not be for you.

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