Believes.

If a trader trades emotionally, he will never succeed in trading. Stop Loss is an important part of trading. If a trader cannot set the stop loss properly, he will never be able to make a profit. If you give less stop loss in the Volatile market, it is more likely to hit. And in the impulsive market situation, if the stop loss is less, there is no problem and it is better to give the stop loss on the swing point.

AliaDare posted:
If a trader trades emotionally, he will never succeed in trading. Stop Loss is an important part of trading. If a trader cannot set the stop loss properly, he will never be able to make a profit. If you give less stop loss in the Volatile market, it is more likely to hit. And in the impulsive market situation, if the stop loss is less, there is no problem and it is better to give the stop loss on the swing point.

Stop Loss is important to survive in the market. No one know when market will take your whole capital. So, it is better to be safe.

SofieAndreasen posted:

AliaDare posted:
If a trader trades emotionally, he will never succeed in trading. Stop Loss is an important part of trading. If a trader cannot set the stop loss properly, he will never be able to make a profit. If you give less stop loss in the Volatile market, it is more likely to hit. And in the impulsive market situation, if the stop loss is less, there is no problem and it is better to give the stop loss on the swing point.

Stop Loss is important to survive in the market. No one know when market will take your whole capital. So, it is better to be safe.

When you are going to use stop loss, you need to have proper knowledge about it.

Stop Loss is a great tool to lessen the probabilities of loss.

yes is good, but for this moment most of my positions is closed via stop loss:/

Every trader needs to be emotionally strong. It has happened to me that after placing a stop loss if the price moves closer to that stop-loss, the stop loss shifts, and the number of my loss increases.

Which is why it is important for them to realize the importance of being a disciplined trader.

Discipline is indeed very important. It keeps you organised and away from panic and stress as well.

I think that a trading plan really helps with discipline. Get a plan and it will give you a frame work to stick to and be discipined

@opportunitycalls Yes you are right. Plan with discipline is very important in forex trading. After making a plan, sticking to the plan is important. Most people can not do it.

BrantleyC posted:
Discipline is indeed very important. It keeps you organised and away from panic and stress as well.

I also agree. Traders can manage the trade with true discipline.

opportunitycalls posted:
I think that a trading plan really helps with discipline. Get a plan and it will give you a frame work to stick to and be discipined

Yes. You are right.

Discipline is very important and it always helps you to be a successful trader.

Yes, this is usually done by beginner traders. However, in many cases, many experienced traders do it. We need to control our mindset. If psychology is not maintained properly, it will be very difficult to make a profit.

The concept of a 'mental stop loss' isn't used by big institutions or banks, I can be sure of that! Greed leads to doing that and a complete lack of understanding of risk management.

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.

You cant trade like a pro trader if you are not getting how to place the stop loss and where to place it.

Trading without stop-loss is possible for professional traders. But it is quite tough to trade without stop loss for the new traders.

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