Using SL

[Max Trade]

Setting a stop loss is an integral part of successful trading. However I think it is ridiculous to set a stop loss of 10 pips because minor fluctuations can close our order. if we place a stop loss very near like 10 pips or 15 then a good order can be closed with a loss. I prefer to place a stop loss at least 30 pips away and usually place it from 30 to 80 pips depending upon the trading strategy.

 

[Fx Master]

Stop loss can make us earn good amount of money if we know how to use it. Some people thing that if we get SL we end up losing. But proper way to use SL can also make us earn money still. For example if you have gain 50 pips profit already and your analysis say that it can go up 100 pips. You put your TP to 100 pips and you put your SL 40 pips. In this way you can still end up earning 40 pips and 100 pips if you get TP.

 

[Max Trade]

Stop loss an inevitable part of successful trading , without Stop Loss you trading condition like a ship an ocean without a rudder. No one become successful from this trading place at all , if he does not know how to use Stop Loss.

 

[winchent13]

Loss isn't always needed) For example, when scalping no one sets the losses. yes, many strategies don't include stops.

 

[raniya]

Stop loss is tool which can be used to minimize the risk. But some traders thinks that Stop Loss will only make us lose our money. In fact it happen because we still not be able to analyze market forex. with FXB, i use forex analysis for trading.

 

[Lee Mark]

Trading without stop loss trading too means, you are offering the market to kill your equity! You can’t take here 100% risk ratio in your every trade! Using a fixed risk reward ratio is very important here!

 

[Faal]

There is no successful Forex trader who avoids SL, basically lose is a general part of every business! By the way, traders have to use SL and TP according to their strategy’s requirement! Like I use fixed 35 pips SL in my trading because of my trading system.

 

[LorrainMor]

Forex is short for foreign exchange. How about we utilize a natural guide to all the more likely comprehend what traders are doing. Ever utilized those stands and exchange windows at the airplane terminal? For instance, British sightseers will buy euros with their pounds to spend while on their Spanish excursion. In the event that they have something left toward the end, they go to an exchange and buy Sterling. This is a foreign exchange in the physical.

 

[Lee Mark]

Forex is short for foreign exchange. How about we utilize a natural guide to all the more likely comprehend what traders are doing. Ever utilized those stands and exchange windows at the airplane terminal? For instance, British sightseers will buy euros with their pounds to spend while on their Spanish excursion. In the event that they have something left toward the end, they go to an exchange and buy Sterling. This is a foreign exchange in the physical.

Buddy maybe you missing something! Here we all are talking about SL; not the description on Forex!

 

[Svetlana Loboda]

On the whole; gamblers try to make quick money without any loss; which is impossible in reality! And mostly they avoid this useful tool; but; good traders are familiar with the reality of Forex!

 

[Anderson]

Stop loss urges us to close a trade when we are running at loss. It is generally used by traders who are not willing to close a trade at any given minute. It shield us from losing more than we can stand to lose. Tenderfoots makes use of it since the trade is distinctive to them and in light of the way that they don't understand the market or couldn't make usage of the analysis. I generally utilize stop loss for my trading. I really take after set and overlook run the show.

 

[Tom Latham]

Hello; how many months you have been doing the live trading? Do you have any specific choice on session?

 

[lioneld]

The advantage of using SL is; we can easily avoid any unrealistic loss; so SL plays the main role of account protection!

 

[Chionao]

To use stoploss or not to use stoploss? That is the question! I think it’s better if you use a 1000 pip stoploss than not using it at all. However using a small stoploss is not wise if you want to catch the trend. For scalpers it’s a different matter. They must use small stoploss because their target is small too. Normally if you want to stay away from market whiplashes you must use stoploss of higher than average true range. If ATR is 50 pips, your stoploss can be 1.5 times ATR which is 75 pips and it seems logical.

 

[Lee Mark]

My average SL ratio is (20-26); but when I do long term trading for swing or positional trading; them I need to use a wider choice; so there is no fixed rule for me!

 

[Mark Dahl]

SL is very important in any trading strategy. It reduces loss. Knowing perfect SL position is also important. So learning about that, you can minimize your loss

 

[Kazumu Fukunaga]

Stop loss should be placed based on support and resistance not based on pips. We just can't put sl like 30 pips or 20 pips. If you want to put small SL find trade that requires small SL.

 

[Gito Dinev]

Stop loss should be placed based on support and resistance not based on pips. We just can't put sl like 30 pips or 20 pips. If you want to put small SL find trade that requires small SL.

Yeah. SL should be place base on support and resistance level. However, Tp should be place on pips according to Risk reward ratio.

 

[Alicia Lynch]

A successful trading style is to use a stop loss. Stop loss is not to be underestimated. Keep in mind that it is not possible to maintain risk without stop loss.

 

[Alexander Hudson]

SL will help a trader to control his losses. He can limit his losses with the help of SL. But if any trader doesn't have any knowledge about SL, he can face problems of using it.