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This is the most important thing of Forex trading
Oct 15, 2023 at 05:51
453Lượt xem
4 Replies
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)
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)
Tham gia từ Aug 02, 2017
16bài viết
Oct 17, 2023 at 15:36
When you day AI model, do you mean an EA?
Tham gia từ Aug 19, 2021
203bài viết
Oct 17, 2023 at 18:51
Oh it will be fun to see that the AI model is chat gpt. Lol.
Tham gia từ Oct 13, 2023
2bài viết
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.
Tham gia từ Jan 11, 2019
11bài viết
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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