in this volatile trading place devoid of stop loss you trading condition can be as like a ship in an ocean without a rudder. So it’s an inevitable part of trading. We have to set stop loss according to previous support and resistance level. However, any form of strategy has different rules in point out stop loss level. Even some traders choose to use manual cut loss. and does not use stop loss tool. Since they are implement scalping technique and always monitoring the trade.
Just reduce your risk and use Stop Loss. Thank you.
Accept the loss as experience
You can protect your loss percentage by using stop loss trading tool! I use SL positions in my trading so willingly!
When I was a new trader, then I didn’t use SL; as a result I faced huge losses in my early stage of trading! But now, I am not facing this kind of problem because of using SL’s in my trading! That’s the real difference.
Always use a stop loss. Price can move a 1000 pips in a second if there is some crazy news. Look at CHF a couple of years back
CarlFooty posted:That was the memorable crash! Many traders even brokers crash their balance during that news session!
Always use a stop loss. Price can move a 1000 pips in a second if there is some crazy news. Look at CHF a couple of years back
Price doesn't just move that much during such news, spreads often get incredibly wide too, which adds to the problem.
AniLorak posted:CarlFooty posted:That was the memorable crash! Many traders even brokers crash their balance during that news session!
Always use a stop loss. Price can move a 1000 pips in a second if there is some crazy news. Look at CHF a couple of years back
Such movements of 1000 and + pips may occurs when a Central Bank is intervening on the market - not just regular or usual news. In this case the stop loss does not help, because the trade will be filled on the first possible price :)
I am strictly for the stop loss using and to avoid such movements and bad fills stay away when banks intervene :)
Nov 16 2017 at 15:30
AniLorak posted:Same experience! I was also tried to avoid SL and trail stop in my beginning trading sessions! But right now I am not! Because, now I am very much sure about the importance of SL position.
When I was a new trader, then I didn’t use SL; as a result I faced huge losses in my early stage of trading! But now, I am not facing this kind of problem because of using SL’s in my trading! That’s the real difference.
Nov 29 2017 at 15:44
Hey. Be honest with yourself and stick to the strategy. If you know how to control yourself and stop trading on time, then you do not need a stop-loss. I'll tell you more, your stop-orders are your psychological levels, which usually come true. Just follow your strategy.
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