Believes.

A stop-loss order eliminates emotions that can impact trading decisions. This can be especially handy when one is not able to watch the position. Stop-loss in Forex is critical for a lot of reasons. However, there is one simple reason that stands out - no one can predict the exact future of the Forex market. It does not matter how strong a setup may be, or how much information might be pointing to a particular trend.

SofieAndreasen posted:
Stop loss is important factor in trading. Trader should have good understanding of support and resistance level to place good SL order.

I agree. Many traders dont use it at all. I believe its one of the most underestimated things but is a great way of keeping your losses limited.

Especially professional traders don't use a stop loss. Because they are confident with their strategy. But every new trader should use stop loss to control their losses as mc as they can.

Mental stop loss is okay for them who glue their eyes to trading platform until trade is closed. It's all about what you are comfortable. As long as you are making consistent money everything you do is best for you. We have to change what needs to change.

If a trader trades emotionally, he will never succeed in trading. Stop Loss is an important part of trading. If a trader cannot set the stop loss properly, he will never be able to make a profit. If you give less stop loss in the Volatile market, it is more likely to hit. And in the impulsive market situation, if the stop loss is less, there is no problem and it is better to give the stop loss on the swing point.

AliaDare posted:
If a trader trades emotionally, he will never succeed in trading. Stop Loss is an important part of trading. If a trader cannot set the stop loss properly, he will never be able to make a profit. If you give less stop loss in the Volatile market, it is more likely to hit. And in the impulsive market situation, if the stop loss is less, there is no problem and it is better to give the stop loss on the swing point.

Stop Loss is important to survive in the market. No one know when market will take your whole capital. So, it is better to be safe.

SofieAndreasen posted:

AliaDare posted:
If a trader trades emotionally, he will never succeed in trading. Stop Loss is an important part of trading. If a trader cannot set the stop loss properly, he will never be able to make a profit. If you give less stop loss in the Volatile market, it is more likely to hit. And in the impulsive market situation, if the stop loss is less, there is no problem and it is better to give the stop loss on the swing point.

Stop Loss is important to survive in the market. No one know when market will take your whole capital. So, it is better to be safe.

When you are going to use stop loss, you need to have proper knowledge about it.

Stop Loss is a great tool to lessen the probabilities of loss.

yes is good, but for this moment most of my positions is closed via stop loss:/

Every trader needs to be emotionally strong. It has happened to me that after placing a stop loss if the price moves closer to that stop-loss, the stop loss shifts, and the number of my loss increases.

Which is why it is important for them to realize the importance of being a disciplined trader.

Discipline is indeed very important. It keeps you organised and away from panic and stress as well.

I think that a trading plan really helps with discipline. Get a plan and it will give you a frame work to stick to and be discipined

@opportunitycalls Yes you are right. Plan with discipline is very important in forex trading. After making a plan, sticking to the plan is important. Most people can not do it.

BrantleyC posted:
Discipline is indeed very important. It keeps you organised and away from panic and stress as well.

I also agree. Traders can manage the trade with true discipline.

opportunitycalls posted:
I think that a trading plan really helps with discipline. Get a plan and it will give you a frame work to stick to and be discipined

Yes. You are right.

Discipline is very important and it always helps you to be a successful trader.

Yes, this is usually done by beginner traders. However, in many cases, many experienced traders do it. We need to control our mindset. If psychology is not maintained properly, it will be very difficult to make a profit.

AliaDare posted:
Yes, this is usually done by beginner traders. However, in many cases, many experienced traders do it. We need to control our mindset. If psychology is not maintained properly, it will be very difficult to make a profit.

Proper planning can help a trader to control his mindset.