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skihav
Dec 17 2021 at 19:43
801 inlägg
robindude posted:
Which is why it is important for them to realize the importance of being a disciplined trader.

And what is the discipline of a trader?

Peirameter
Dec 27 2021 at 05:54
28 inlägg
The primary purpose of stop loss is to cut the losses from getting bigger but there’s also another benefit of using it. Stop loss helps traders to exit the trade at the right time without letting their decisions be controlled by their emotions. If you’ve placed the stop loss very strategically then you shouldn’t not adjust it. Let the price move in whatever direction. There’s no use of putting a stop loss if you are going to change it every time according to your feelings.

RobertFerrari
Dec 27 2021 at 09:29
371 inlägg
Peirameter posted:
The primary purpose of stop loss is to cut the losses from getting bigger but there’s also another benefit of using it. Stop loss helps traders to exit the trade at the right time without letting their decisions be controlled by their emotions. If you’ve placed the stop loss very strategically then you shouldn’t not adjust it. Let the price move in whatever direction. There’s no use of putting a stop loss if you are going to change it every time according to your feelings.

Stop loss is very useful for every traders especially new traders.

Alexthetrader
Dec 27 2021 at 09:57
60 inlägg
You cant trade like a pro trader if you are not getting how to place the stop loss and where to place it.

UweMoench
Dec 28 2021 at 03:33
751 inlägg
Trading without stop-loss is possible for professional traders. But it is quite tough to trade without stop loss for the new traders.

Cordardred (Cordardred)
Jan 12 at 09:19
23 inlägg
Stop loss should be used by all traders I guess. It doesn't matter whether you're skilled enough in trading or you just joined trading community. Those ones who trade without stop loss will definitely once face unpleasant consequences of their neglection of using stop loss. As for take profit, then here every trader has to decided by himself, because take profit restricts your potential income, while stop loss is much more important. In my opinion, the very first thing in risk management is the ability to set stop loss correctly. The perfect ratio is 3:1, tp/sl respectively. Complying with this ratio might restrict potential losses.

Iceglove
Jan 12 at 10:15
9 inlägg
Cordardred posted:
Stop loss should be used by all traders I guess. It doesn't matter whether you're skilled enough in trading or you just joined trading community. Those ones who trade without stop loss will definitely once face unpleasant consequences of their neglection of using stop loss. As for take profit, then here every trader has to decided by himself, because take profit restricts your potential income, while stop loss is much more important. In my opinion, the very first thing in risk management is the ability to set stop loss correctly. The perfect ratio is 3:1, tp/sl respectively. Complying with this ratio might restrict potential losses.



I am of the same opinion for stop loss usage but I do not think that there is a perfect ratio. The target and stop loss will depend on what the market provide. No point aiming for 200pips if the ATR is only 50pips

Stel386
Jan 12 at 10:51
15 inlägg
Cordardred posted:
Stop loss should be used by all traders I guess. It doesn't matter whether you're skilled enough in trading or you just joined trading community. Those ones who trade without stop loss will definitely once face unpleasant consequences of their neglection of using stop loss. As for take profit, then here every trader has to decided by himself, because take profit restricts your potential income, while stop loss is much more important. In my opinion, the very first thing in risk management is the ability to set stop loss correctly. The perfect ratio is 3:1, tp/sl respectively. Complying with this ratio might restrict potential losses.

Yes, stoploss is the key to safe and successful trades.

Suradi (FXOday)
Jan 12 at 23:20
284 inlägg
UweMoench posted:
Trading without stop-loss is possible for professional traders. But it is quite tough to trade without stopping loss for the new traders.

The professional trader has long years of experience and also a good understanding of the market, but I think they also will keep trading based on risk management maybe they trade without stop loss but will cut loss if the trading en^danger all trades, except they already don't care about the money, big trader also get big loss but never exposed

billysnyder
Jan 13 at 04:58
91 inlägg
Stop-loss can save you from a major loss. It is one of the most used techniques in trading, especially among Forex traders.

Marcel Durham (MarcellusLux)
Jan 13 at 13:47
144 inlägg
Trader can do what seems to be right, even to trade from another room, not looking at the monitor. If it is profitable, then OK, do it.
Because the problem of those who suffer losses is not that they make irreparable mistakes, but that these mistakes are caused by the absence of the correct trading plan and trading system.

Draggyr
Jan 13 at 19:22
25 inlägg
Well, I notice that lots of traders rely on luck and their beliefs in trading activity, while I can't claim that it's okay for a trader. Trader in my opinion should rely only on his/her personal experience, knowledge and take into consideration previous deals or mistakes which were made by him/her. Of course, people are tend to believe in something that doesn't relate to rational side, for example, luck. Luck has no rational traits, it's all about fiction, that's why it's easier to rely o it, rather than on your personal skills.
Anyway, for example, it's better to set stop loss, rather than thinking that everything will be oay and the price will go the same direction as the analysis showed you.

Salore
Jan 13 at 20:20
17 inlägg
Well, mental stop loss can actually work if a trader has strong discipline and self-control.
Technical stop loss has some drwbacks which get on my nerves and I am sure that I am not the only one here. I mean that the market can just occasionaly go beyond the borders of your stop loss and them immediately bounce back according to your expectations but it is too late because your deal was closed with a loss. That is why I met many traders who avoid using mechanical stop loss and they just follow their own plan. That is what I wanted to talk about. If you have a trading plan and you are ready to follow it without any compromises, you can do without stop loss in the traditional sense, i.e. the one which is present in trading platform. However, the vast majority of traders, especially new ones, are not disciplined enough to do so. They are full of beliefs which are affected by emotions and there is no room for common sense and logic. In this situation it is a must for a trader to use mechanical stop loss despite its main drawback which I mentioned before.

Furbelows
Jan 19 at 07:01
21 inlägg
Yes, using stop losses and limits is a good way to manage risk when trading currencies. In simple terms, a stop-loss order is used as a method to cut your losses when your trade is not going according to plan.

cardigan
Jan 19 at 07:27
102 inlägg
Cordardred posted:
Stop loss should be used by all traders I guess. It doesn't matter whether you're skilled enough in trading or you just joined trading community. Those ones who trade without stop loss will definitely once face unpleasant consequences of their neglection of using stop loss. As for take profit, then here every trader has to decided by himself, because take profit restricts your potential income, while stop loss is much more important. In my opinion, the very first thing in risk management is the ability to set stop loss correctly. The perfect ratio is 3:1, tp/sl respectively. Complying with this ratio might restrict potential losses.

Could not have said it better. It is very important to include stop loss in your trading

pipham
Jan 24 at 05:34
53 inlägg
Mental stop loss doesn’t work in this highly dynamic market. You can’t monitor the market every minute of the day. You may leave your trading desk with everything in your favour but when you return there’s a possibility that a sharp market turn has happened and you have not only lost the unrealized profits but it has also wiped out your entire account. Moreover, another purpose of using a stop loss is to separate the emotions, if you are not going to automate it, you can never exit the positions at the right time.

ddarko3
Jan 24 at 09:33
70 inlägg
pipham posted:
Mental stop loss doesn’t work in this highly dynamic market. You can’t monitor the market every minute of the day. You may leave your trading desk with everything in your favour but when you return there’s a possibility that a sharp market turn has happened and you have not only lost the unrealized profits but it has also wiped out your entire account. Moreover, another purpose of using a stop loss is to separate the emotions, if you are not going to automate it, you can never exit the positions at the right time.

It may not, but it will minimize the losses you could potentially face.

Vicenox
Jan 24 at 11:36
16 inlägg
Forex market is not that easy to predict. So , it's always better to trade using stop loss to be on safer side by minimizing the associated risk.

skihav
Jan 24 at 16:34
801 inlägg
You can only rely on yourself in this niche. As for me, this is the best choice, which should be considered correct.

Williamfreed
Feb 02 at 12:00
171 inlägg
Taking part in Forex treading is a very easy way to earn and Forex treading can be done at home without any pains, so I think Forex treading can make a very easy and simple life. So I believe that forex can make life easier for everyone to work from home.

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