Stop Loss & Take Profit

[CahCuncun]

Yeah, I agree with you statement that you mentioned, S/L and T/P are great tools for the profitable trading and S/L can help us to manage our portfolios, so the best thing we need to do is to apply these tools at right time.

Yes, SL will minimize the risk because it will limit risk. I also use SL when trading, not everytime. I use it when i'm not ready to monitor my orders in TenkoFx every time.

 

[Johnson]

I think it also depends on the way you trade and an individual trader, what is your strategy and how you wanna make profits from your trades, Some events and the volatility makes it really difficult for traders to trade with out S/L.

 

[sindarin]

Yes, SL will minimize the risk because it will limit risk. I also use SL when trading, not everytime. I use it when i'm not ready to monitor my orders in TenkoFx every time.

Why? I see that SL must be used everytime to limit the risk. All the risk that i bear here already accounted and planned according to the plan, to me it is favourable to use SL compared to cut loss. Since i don't have much time to sit in front of computer.

 

[sindarin]

I also keep using SL when trading in freshforex. It help me to minimize the risk. Because as we know that forex can not be predicted with certainty and we must be ready with this possibility

In my broker i keep using it, the reason also same like you, to keep minimize the risk. If i don't use it then i must monitoring my trading over and over again, it is wasting my time a lot especially if my position cannot touch TP or SL for couple days or more than 8 hours? It is more effective and efficient to use SL.

 

[budado]

In my broker i keep using it, the reason also same like you, to keep minimize the risk. If i don't use it then i must monitoring my trading over and over again, it is wasting my time a lot especially if my position cannot touch TP or SL for couple days or more than 8 hours? It is more effective and efficient to use SL.

First question we need to ask ourselves is this. Do we want to do day trading or weekly trading or monthly trading? Or much longer? If we want to do day trading then our SL and our TP must be computed base on daily volatility. If we are trading for longer term then our SL and TP must be computed on the duration of our holding target.

 

[sindarin]

S/L and take profit are definitely most important factors for trading and trading platform these day have them in their structure and most of brokers also encourage these things, FBS is the one broker which do these things.

S/L is important for limiting the risk that you would get later, but it does not mean you cannot loss your trading. I prefer SL and TP because it means that i will make my trading more automatic rather than before, with this concept i don't have to oversee my trading over and over again.

 

[sindarin]

As far as i know loss management like S/L or the other features are exist in all brokers that we are choosing, i never see a single broker that never offer any S/L feature to its clients, and the same thing also applied to T/P.

 

[Arafat sani]

Stop loss, and take profit are two important part of money management. Actually, no one becomes successful, if he does not know how to manage money. I always try to maintain proper money management that is very supportive to keep survive in this market place. By the way, in my trading platform MxTrade I can trade spot metal and CFDs besides almost 50 up major currency pair. So, my trading capability is growing increasingly.

 

[CahCuncun]

In my broker i keep using it, the reason also same like you, to keep minimize the risk. If i don't use it then i must monitoring my trading over and over again, it is wasting my time a lot especially if my position cannot touch TP or SL for couple days or more than 8 hours? It is more effective and efficient to use SL.

yeah, even if we are always in front of chart, it will make us can't control emotion, and we will be tempted to make order while it's not the right time. I think forex analytic like we got from TenkoFx also can be maximized

 

[sindarin]

In this context, i think S/L and T/P is something that you should applied to your trading. It is clear that waiting in front of chart could played our emotion very well, and i think that the execution of SL and TP is faster than human.

 

[TenkoFX]

Take Profit and Stop Loss Orders are crucial tools in enabling you to professionally manage your trades. Where you set these orders depends on your level of risk, but it is good practice to use them with every trade you make. Management of positions and your investment is key to successful Forex trading.

 

[budado]

Take Profit and Stop Loss Orders are crucial tools in enabling you to professionally manage your trades. Where you set these orders depends on your level of risk, but it is good practice to use them with every trade you make. Management of positions and your investment is key to successful Forex trading.

Its really good earnings for all of us here in forex trading. We can make good income in here without any worries. I am sure that we can guarantee ourselves some good and successful trade once we learn how to trade properly and the basic most important thing to learn is how to use SL and TP properly.

 

[Avka]

To my mind, you should not use the Stop Loss. You had better use locking positions, it is a good tool if you learn how to work with it.

 

[magerro]

Locking position does give a slight advantage in the form of stop loss. But, it is very difficult to close these positions without any loss.. Personally, I have not been working with locking for about two years, since I began to use FreshForex. In general, I have good results without it.

 

[gabanda]

Sl and Tp is the important thing in this forex trading. Trading by always using Sl and Tp properly it will benefit us, and therefore we should always use SL and TP to minimize the risk well

 

[kupz]

trading with out SL or TP is semi suicide, unless you are on screen and trust your connection thoroughly, but there are times that i trade with out SL with a very contained controlled environment, its not advisable, but lets just say it has its advantages at one point. but on the other hand i tend to put SL and TP on certain trades especially gold when im swinging on my hotforex account.

 

[gabanda]

Forex risk is very high and therefore we need to be able to have good risk management that will allow us to minimize the risk properly. Trading by always using the SL and TP will make our account can be minimized of loss

 

[sininfinity]

trading with out SL or TP is semi suicide, unless you are on screen and trust your connection thoroughly, but there are times that i trade with out SL with a very contained controlled environment, its not advisable, but lets just say it has its advantages at one point. but on the other hand i tend to put SL and TP on certain trades especially gold when im swinging on my hotforex account.

There are times when market makes a very big move and you have no idea why it happened. A few minutes later you may know why it happened. If your trade suffers a loss from that kind of move then it may wipe out entire account.

 

[Timothy ForexMart]

Its one of the great tool in Forex trading that help save your Capital from the Trades that goes against our expectations . as well TAKE PROFIT gives your freedom to set so that your trades automatically closed when reached to the give price set by you even when you are not at your desktop.

 

[sininfinity]

Whether one sets take profit or not but one must always set a stop loss. Anything unexpected in this market might happen and traders must have protection against those all the time.