Importance of Stop Loss

When I was a newbie; then I didn’t try SL so willingly; but now I am! Because, I see without SL the journey is so sticky!

Stop loss is very important for new traders to control their loss. If you don't have the proper knowledge and you want to trade with minimum risks, you should use stop loss to control your risks.

A lot of experience of trading is required to use Stop Loss. It is not possible to observe the market 24 hours a day so stop loss has to be used. Stop Loss must be used to target money management or risk management. Stop-loss is a part of good analysis. It is never possible to be a successful trader by trading without stop loss. Because risk cannot be managed without stop loss.

A trade plan MUST have stop loss. Stop-loss signify 2 things.

1) Acceptance to the market that is going against your idea
2) Proper risk management.

Unless you are 100% accurate, you need a stoploss.

AniLorak posted:
When I was a newbie; then I didn’t try SL so willingly; but now I am! Because, I see without SL the journey is so sticky!

That’s quite right. Still some traders don’t know how to place SL perfectly. SL is one of most essential part in trading. So, trader need to learn about it.

Stop loss is a MUST. You cannot afford to miss it, unless you are so sure when it comes to trading. Sto loss helps to protect you from loss if the market are going the way that you do not want it to go

Stop-loss is one of the most important things in forex trading especially for beginners and for those who do day trading.

SL is the tool to limit your risk. That is for novice traders
More experienced traders are using alos other tools to limit risk like
1 pair hedge
2 pair hedge
3 pairs hedge
equity protection

or trading with very low leverage which limits your profit/loss drastically

pegima posted:
Stop-loss is one of the most important things in forex trading especially for beginners and for those who do day trading.

I agree. I prefer trailing stop loss. If I see a potential trade then I go for trailing SL. Otherwise I use normal SL order.

Stop loss is very important for the new traders to deal with their losses.

Stop loss or Auto take out of Buy/Sell limits actually help you to have a good risk management and make you compound your profits very well, this is also one of my best strategies, and make my profits consistent.

Stop loss helps you to reduce the chances of loss and helps you to manage the risk.

So many BS Bla Bla responses. Yes we've all read the books. For me, I am a very profitable (trader of more than 40 years experience in stocks, commodities and forex) and I only became profitable when I stopped using a stop loss. Now I NEVER use a stop loss. NEVER, ever, ever. My account is my stop loss. I only fund the amount with the TOTAL amount that I am prepared to loose and don't make stupid trades. In other words if I fund an account I am prepared to loose 100% of that account without loosing sleep. Then I go all in on every trade I do make. Because I am all in on every trade I have to refund the account when I loose. I can't and wont add funds to move a Margin call at the last minute. This slows down the decision making process for me and ensures that I have conviction on every trade. You are less likely to make stupid decisions when everything is at stake. So when I'm wrong I'm just simply wrong and I have to accept that. When I'm right I'm leveraged up to the eye balls with all in and ...... KACHING!!$$$$$$$$$

Not the trading style for everyone and a long way from main stream BS that floats around but I'm working about three hours a day for an income that would make your eyes water.

PS... I haven't been a profitable trader all my life. I spent more than 10 years paying my dues and giving a LOT (the cost of a couple of houses worth to be honest) of money to the system before I became profitable. I've been there. Persistence, commitment and tenacity are a traders best qualities. It takes time to find your groove.

Amber_0302 posted:
Stop loss helps you to reduce the chances of loss and helps you to manage the risk.

Right, a good way for traders to limit their losses, however, not all traders use it.

Silverthorn posted:
PS... I haven't been a profitable trader all my life. I spent more than 10 years paying my dues and giving a LOT (the cost of a couple of houses worth to be honest) of money to the system before I became profitable. I've been there. Persistence, commitment and tenacity are a traders best qualities. It takes time to find your groove.

SO why dont you publish your results after such long struggle?

togr posted:

Silverthorn posted:
PS... I haven't been a profitable trader all my life. I spent more than 10 years paying my dues and giving a LOT (the cost of a couple of houses worth to be honest) of money to the system before I became profitable. I've been there. Persistence, commitment and tenacity are a traders best qualities. It takes time to find your groove.

SO why dont you publish your results after such long struggle?

You've always said the same thing and I'll always give you the same answer I've always given you Buddy.

Silverthorn posted:

togr posted:

Silverthorn posted:
PS... I haven't been a profitable trader all my life. I spent more than 10 years paying my dues and giving a LOT (the cost of a couple of houses worth to be honest) of money to the system before I became profitable. I've been there. Persistence, commitment and tenacity are a traders best qualities. It takes time to find your groove.

SO why dont you publish your results after such long struggle?

You've always said the same thing and I'll always give you the same answer I've always given you Buddy.

“Each time a person passes by you and you say 'hello', imagine that person turning into a candle. The more positivity, love and light you reflect, the more light is mirrored your way. Sharing beautiful hellos is the quickest way to earn spiritual brownie points. You should start seeing hellos as small declarations of faith. Every time you say hello to a stranger, your heart acknowledges over and over again that we are all family.”

Ima think if you don't wanna losess don't put sl at all. Ima put sl not often.
But Ima think sometimes they're really needfull.