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Importance of Stop Loss
Nov 08, 2018 at 13:20
Medlem sedan Nov 08, 2018
12 inlägg
Yeah only newbies and trade without a stop loss. Using a stop loss is trading 101
Nov 12, 2018 at 13:42
Medlem sedan Nov 07, 2018
17 inlägg
Moreover, using stop losses depends on the trading system you use. If your trading system without stop losses works, do not start to use stop losses just because the forum says.
Medlem sedan Feb 22, 2011
4862 inlägg
Nov 14, 2018 at 14:51
Medlem sedan Feb 22, 2011
4862 inlägg
There are different kind of SL
Used wisely it can save your account. Otherwise you can suffer unnecessary loss or big loss.
1. SL per position - most common understanding os SL. Where each trade has SL defined in pips. Often result in closing position prematurely when in loss before it become profitable.
2. SL per equity. I prefer this one. You define level - e.g. 10% at which all your positions get closed and trading is halted.
3. Leverage. I often hear that low leverage serves as stop loss. Well it is side effect no primary purpose.
Used wisely it can save your account. Otherwise you can suffer unnecessary loss or big loss.
1. SL per position - most common understanding os SL. Where each trade has SL defined in pips. Often result in closing position prematurely when in loss before it become profitable.
2. SL per equity. I prefer this one. You define level - e.g. 10% at which all your positions get closed and trading is halted.
3. Leverage. I often hear that low leverage serves as stop loss. Well it is side effect no primary purpose.
Medlem sedan Aug 09, 2017
785 inlägg
Nov 15, 2018 at 07:17
Medlem sedan Aug 09, 2017
785 inlägg
in Fx Failure rate doesn’t matter. Matter is why traders have been failing. According to me, beginners trader fail after passing sometimes in live account because they have no trading discipline and always trade with emotions as well try to take revenge after having a loss. And some experience traders lose due to their overconfident. Practically there is nothing 100% in Forex .
Medlem sedan Apr 18, 2017
920 inlägg
Nov 15, 2018 at 07:39
Medlem sedan Apr 18, 2017
920 inlägg
togr posted:
There are different kind of SL
Used wisely it can save your account. Otherwise you can suffer unnecessary loss or big loss.
1. SL per position - most common understanding os SL. Where each trade has SL defined in pips. Often result in closing position prematurely when in loss before it become profitable.
2. SL per equity. I prefer this one. You define level - e.g. 10% at which all your positions get closed and trading is halted.
3. Leverage. I often hear that low leverage serves as stop loss. Well it is side effect no primary purpose.
Well said! By the way, I always set my SL acceding to the position of support/resistant levels! I don’t take this decision based on my own choice.
Nov 15, 2018 at 11:18
Medlem sedan Nov 15, 2018
11 inlägg
Me to. S/R is a better way to set SL. everything else is arbitrary. Let the market define the SL
Medlem sedan Feb 22, 2011
4862 inlägg
Nov 15, 2018 at 14:36
Medlem sedan Feb 22, 2011
4862 inlägg
Well there are more way how to calculate stop loss. one of the popular is ATR
Medlem sedan Apr 18, 2017
718 inlägg
Nov 19, 2018 at 13:47
Medlem sedan Apr 18, 2017
718 inlägg
Astronautica posted:
I like the idea of using ATR to get SL and combining it with identifying TP. ATR is an under rated indicator.
Default settings of ATR? Or do you have any personal choice! Thanks in advance.
Medlem sedan Feb 22, 2011
4862 inlägg
Nov 20, 2018 at 09:01
Medlem sedan Feb 22, 2011
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AmDiab posted:Astronautica posted:
I like the idea of using ATR to get SL and combining it with identifying TP. ATR is an under rated indicator.
Default settings of ATR? Or do you have any personal choice! Thanks in advance.
I have specifics setting, it can be used to calculate sl as well as tp.
100 sl one day is completely different than 100 sl other day.
100 pips movement can take 5 secs, min, hours :)
Medlem sedan Apr 18, 2017
920 inlägg
Nov 27, 2018 at 08:11
Medlem sedan Apr 18, 2017
920 inlägg
togr posted:AmDiab posted:Astronautica posted:
I like the idea of using ATR to get SL and combining it with identifying TP. ATR is an under rated indicator.
Default settings of ATR? Or do you have any personal choice! Thanks in advance.
I have specifics setting, it can be used to calculate sl as well as tp.
100 sl one day is completely different than 100 sl other day.
100 pips movement can take 5 secs, min, hours :)
I always set my SL based on intraday support and resistant level; if my trade setup is very far from intraday support/resistant level; then I avoid this trade opportunity.
Medlem sedan Aug 09, 2017
785 inlägg
Feb 20, 2019 at 07:10
Medlem sedan Aug 09, 2017
785 inlägg
Reasons why most traders lose in my opinion is emotional making decision. You have to follow a trading plan or system with discipline, otherwise you aren’t allowing your edge to work for you. Without this then any form of trading in this regard is simply gambling. Since it can’t be reproduced reliability.
Feb 24, 2019 at 13:20
Medlem sedan Feb 07, 2019
47 inlägg
i will never trade without one again, i got stupid with my trading last year and thought i could manage a trade without one, quickly found out i couldn't, the mental game was insane i just couldn't bring myself to pull the plug on a loosing trade! ended up loosing the majority of my account.
Medlem sedan Feb 08, 2019
213 inlägg
Feb 24, 2019 at 13:50
Medlem sedan Feb 08, 2019
213 inlägg
Some pro traders claim they don't use a stop loss. I find this unbelievable.
Medlem sedan Jan 05, 2016
1189 inlägg
Feb 24, 2019 at 21:55
Medlem sedan Jan 05, 2016
1189 inlägg
Treeny posted:
Some pro traders claim they don't use a stop loss. I find this unbelievable.
It depends on what the strategy is actually. I say this, because there are some strategies where a trade stays open regardless of the loss or profit.
For example, if a trader opens multiple trades for EUR/USD, they might just hold the bad trades until the aggregate value of the trade basket indicates a profitability, and then close out the entire position of EUR/USD or whatever they happen to be trading.
In general however, real pro traders know the importance of money management, and the value of using a reasonable SL.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Medlem sedan Aug 27, 2017
994 inlägg
Feb 25, 2019 at 07:21
Medlem sedan Aug 27, 2017
994 inlägg
Professional4X posted:You are right; and it’s not common scenario actually; as I see maximum pro traders are interested on SL since, they know the value of if.Treeny posted:
Some pro traders claim they don't use a stop loss. I find this unbelievable.
It depends on what the strategy is actually. I say this, because there are some strategies where a trade stays open regardless of the loss or profit.
For example, if a trader opens multiple trades for EUR/USD, they might just hold the bad trades until the aggregate value of the trade basket indicates a profitability, and then close out the entire position of EUR/USD or whatever they happen to be trading.
In general however, real pro traders know the importance of money management, and the value of using a reasonable SL.
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