This is the most important thing of Forex trading

Oct 15, 2023 at 05:51
Przeglądane 262
4 Replies
Uczestnik z Oct 21, 2012   5 postów
Oct 15, 2023 at 05:51
A good Stop Loss setting is the most important thing of trading system. Why ?

Let's say you have init balance 1000USD , you entry a order and lost -50% , then you left 500usd only , which mean you have to make your account increase 100% to recover to 1000USD ( 500 * 200% = 1000) .
This is harder then you lost -50% , the piont is that you should stop your lose as good as possible, the balance you lost more , the much harder you recover.

It's not saying that a small range's StopLoss setting is the best, if the stop loss level set to too small, your position will be easily hit by the market move , especially when the data/news come out.

So, how to set the best stop loss level ? There're some base ideas:
1. use recent Support level or Resistance level
2. By Boll band up/down edges.
3. By trading volume peak
4. By AI model (we will show next article how to)
Uczestnik z Aug 02, 2017   18 postów
Oct 17, 2023 at 15:36
When you day AI model, do you mean an EA?
Uczestnik z Aug 19, 2021   222 postów
Oct 17, 2023 at 18:51
Oh it will be fun to see that the AI model is chat gpt. Lol.
Uczestnik z Oct 13, 2023   2 postów
Oct 25, 2023 at 07:25
Would like to add that all traders want to make as much money as possible trading forex, but focusing on monetary goals alone can make it more challenging to become a profitable trader.
Uczestnik z Jan 11, 2019   11 postów
Oct 26, 2023 at 19:20
Stop loss is important but so if choosing the Lot size. You can still lose you account if you use a small stop loss but a large Lot size
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