What you think about 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.

 

[raniya]

Most of us think that SL is the cause we get loss. In fact, we still not be able to put it in right place. BEside that because our analyzing skill still need to improve. I also try to discipline myself when trading with FXB, try to be more discipline with SL and TP

 

[June Moon]

Stop loss is very important for trading in the market. Some traders try to avoid stop loss but i think stop loss is the most crucial part of trading. if you do not use SL you cannot calculate your Risk to Reward ratio. Without risk to reward ratio you cannot proceed further with trading and if anything goes wrong or if market becomes very volatile you can lose all your money in the account with just one go. Stop loss is very important for a trader to trade well. Market is always unpredictable. World's best analyst cannot provide you 100% confirmation about a trading decision.
Some brokers sometimes violate the stop loss orders by providing slippage to their clients. I once faced it with few brokers but currently i have no issues in trading as i am currently trading with FreshForex. They are so far the best broker to ever trade with.

 

[Tauf]

Always use stop loss was mandatory for traders who want to succeed, many traders are usually immense loss for not wearing the stop loss, overconfident against their trading systems and do not think that the price moves in the future no one knows for sure

 

[Tom Latham]

I think, Stop Loss trading tool is obvious here; but using a fixed trading lot size is not proper way of trading! I always set my SL and TP in order to the market context; so I face TP’s more than SL.

 

[Irina]

Wear a safety stop trading as loss capital, and also as an indicator that our analysis is no longer relevant with the price movement if the stop loss hit, it means we must re-analysis

 

[helodear123]

Not sure how those traders survive who never uses stop loss because it helps us in cutting our losses, i do recommend using stop loss so when we make money we may win more and when it comes to loosing money we still have the option to cut our losses before blowing up our entire account.

 

[Tauf]

The existing tools in forex trading platform as the seat of uncontrolled or loss as an indicator that if stop loss hit, then shows the analysis we've not relevant again with the price movement is going on

 

[helodear123]

I think even a professional trader with perfect trading strategy uses stop loss because they are cutting off their losses and wining more than they loose.

 

[lioneld]

Stop loss is the best protection! In my live trading, I always use stop loss position! For my scalping trading I use small stop loss, and for swing trading I use 40-70 pips SL; I don’t use so called tight stop loss.

 

[Tauf]

I think that stop loss to minimize loss or in other words automatically closes the transaction if price movements are not in accordance with the analysis

 

[Lee Mark]

I think that stop loss to minimize loss or in other words automatically closes the transaction if price movements are not in accordance with the analysis

Yes, that’s the terminology of stop loss! By the way, till now there have few traders who are noting using SL in their trading; actually they are losing more money by avoiding this important tool. We have to use the stop loss tool according to our trading plan.

 

[sininfinity]

I think that stop loss to minimize loss or in other words automatically closes the transaction if price movements are not in accordance with the analysis

Yes that is one the thing. Before entering a trade, a trader must determine that how much he is willing to lose in this trade if things go wrong.

 

[Svetlana Loboda]

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.

In my initial stage I used 20 pips SL on my scalping trading! but, right now I have increased the spreads on my SL, now it’s around 20-30 pips! Besides, TP’s are 30-35 pips.

 

[Derzi]

I think for the newbie to the trading world, stop loss is the mandatory tool as there is a larger chance of mistake in the beginning of the career. You know a single mistake can ruin your account in a flash on the risky Forex market. So, stop loss is a protection tool.

 

[lioneld]

I think for the newbie to the trading world, stop loss is the mandatory tool as there is a larger chance of mistake in the beginning of the career. You know a single mistake can ruin your account in a flash on the risky Forex market. So, stop loss is a protection tool.

Same option. SL is the best tool for protecting our trading equity from any kind of unexpected result. By the way, I use various kinds of SL’s based on my trading styles.

 

[sininfinity]

In my initial stage I used 20 pips SL on my scalping trading! but, right now I have increased the spreads on my SL, now it’s around 20-30 pips! Besides, TP’s are 30-35 pips.

Hmm nice. What is your winning ratio? If you don't mind telling.

 

[William]

My advice for all the new traders is to use the stop loss while trading as it is the best way to minimize the results of the mistakes. Stop loss is the security and it gives you idea of how much you are investing on a trade. So, never forget to use it!

 

[lioneld]

SL, now it’s around 20-30 pips! Besides, TP’s are 30-35 pips.

That means, you are trading with such an outstanding winning ratio; otherwise, it wouldn’t be possible!

 

[Lee Mark]

We should use stop loss if we want to save our money

Exactly, there is no guarantee here! Even, no one can predict this market with 100% accuracy! That means, using the SL is the best practice! In my trading, my average SL positions are: 25 to 80 pips (from scalping to swing trading).