I never use stop loss from trading any market .To control the risk and protect my forex account , the leverage is reduced to 1:5 , the stop loss not using during trading does not mean I don't accept any loss . One of the main advantage of not using the stop loss is that the account will survive any spike if any unexpected events occur . Most of the forex brokers advise their clients to use the stop loss but not the low leverage because the more leverage the traders use , the more commission the brokers make .
Sarjohn posted: Stop loss is very important as a newbie I have never traded without stop loss so that I can’t make any large losses. Even I would suggest that if you don’t have much experience then always trade with a stop loss.
Yes, stop loss is quite important for beginners as well as for advanced traders. It is an effective tool for knowing the amount of money you are about to risk in advance. You can plan your risk reward ratio accordingly.
Yes that is true.. You get to know about the risk also.
Loss is a part of trading. If you have good winning percentage and better risk reward ratio, loss should not bother you. Loss bothers so much to clueless traders who have no idea what's they are doing.