yogeshwartyagi Posted December 2, 2011 Share Posted December 2, 2011 If you are getting 1-2% profit on your position is it easy for you to control yourself to run to book the profit, and when you close your trade for minor profit why you let your trade go in big losses... is'nt it wise to decide your target and stop loss first... suppose you book profit at 2% you should not let your trade fall more than 2% rather have stop loss at 1%, a wise decision. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted December 4, 2011 Share Posted December 4, 2011 Well we can still modify our position right. So which means that we are busy and edit or modify the stop loss. Well i have tried stop loss with take profit. Well it is more profitable if i have put that always. Quote Link to comment Share on other sites More sharing options...
budado Posted December 7, 2011 Share Posted December 7, 2011 If you are getting 1-2% profit on your position is it easy for you to control yourself to run to book the profit, and when you close your trade for minor profit why you let your trade go in big losses... is'nt it wise to decide your target and stop loss first... suppose you book profit at 2% you should not let your trade fall more than 2% rather have stop loss at 1%, a wise decision. Its sound good. But in forex trading you don't count percentage you count pips. Now since theirs always a pips differential your idea can't be apply in forex trading. In short in money management you don't count percentage you count pips. stop loss at 1% and earning at 2% does not mean you are in profit. First theirs a limit on stop loss. You can't just say that I will going to put 1% stop loss. Theirs a minimum stop loss also. like minimum 12 pips of current price. take note current price. You can't put stop loss base on your entry point. But in current price. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted December 10, 2011 Share Posted December 10, 2011 Seems that is good learning for me to have the stop loss in the current price not in the entry point. This is also i dont know since i just put stop loss which i think 10-20 pips depends on the movement. So far, i study many things like applying stop loss correctly. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted December 24, 2011 Share Posted December 24, 2011 I have not been a fan of putting a stop loss. I know this maybe a bad strategy but based from my experience, if you are patient enough, the market will go back to where you placed your trade. There are times when I place a stop loss and lose a trade only to find out the next day that the market went back. Quote Link to comment Share on other sites More sharing options...
omostar Posted December 25, 2011 Share Posted December 25, 2011 I have not been a fan of putting a stop loss. I know this maybe a bad strategy but based from my experience, if you are patient enough, the market will go back to where you placed your trade. There are times when I place a stop loss and lose a trade only to find out the next day that the market went back. That is the way most new traders feel. Some times it may even seems like your stop loss was targeted deliberately as the candle will just simply touch and pick your stop loss then retrace. Hey, it is still better to use stop loss because yes most trades will eventually retrace but what if it retraces after all your capital is finished and you are forced to stop completely. What is important is not to risk too much for a particular trade. We can't win all the time. Quote Link to comment Share on other sites More sharing options...
budado Posted December 26, 2011 Share Posted December 26, 2011 If you are getting 1-2% profit on your position is it easy for you to control yourself to run to book the profit, and when you close your trade for minor profit why you let your trade go in big losses... is'nt it wise to decide your target and stop loss first... suppose you book profit at 2% you should not let your trade fall more than 2% rather have stop loss at 1%, a wise decision. That's why strategy is always important. Yes you can loss all of your week earnings in one big loss in trade if you don't know or don't put stop loss. Me I don't put stop loss also. I trade with my indicators. If theirs a reversal and I'm at the wrong side and two of the three indicators I'm using its genuine reversal I will going to close the trade or do hedging. Anyway a loss happens when your trade is close. But even if you are in negative if your trade is still active its still not at loss. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted January 13, 2012 Share Posted January 13, 2012 That is the way most new traders feel. Some times it may even seems like your stop loss was targeted deliberately as the candle will just simply touch and pick your stop loss then retrace. Hey, it is still better to use stop loss because yes most trades will eventually retrace but what if it retraces after all your capital is finished and you are forced to stop completely. What is important is not to risk too much for a particular trade. We can't win all the time. Â I agree and I know I have to start re-thinking this strategy of not putting a stop loss. But I am still trying this tact via a demo account but you are right, the line might go back and go with you but it might eat up all the money in your account before this happens. Quote Link to comment Share on other sites More sharing options...
budado Posted January 14, 2012 Share Posted January 14, 2012 Â I agree and I know I have to start re-thinking this strategy of not putting a stop loss. But I am still trying this tact via a demo account but you are right, the line might go back and go with you but it might eat up all the money in your account before this happens. My strategy is simple. Use daily pair pips volatility chart. For example. pair usd/cad check how much pips movement or volatility its has each day monday to friday. now when you get the average then you will know that on average its has lets say 80 pips movements a day on average. since I have a strategy when to jump in. I make sure if its down trend or up trend I'm always enter the trade with I'm in 20% level on high if its on down trend and 20% level on low if its on down trend and make 20% pips stop loss in this case if the pips volatility is 80 pips I put 18 pips. if its 100 pips I put 20 pips and so on. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted January 16, 2012 Share Posted January 16, 2012 Quite exciting to have that strategy really. As we need to give first a week to have observation for the movement of a pair we want to trade and then we can get the estimate which will be good to have sl or tp we want. Gonna try it in demo account hopefully to find time. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted January 17, 2012 Share Posted January 17, 2012 Excuse me for being a beginner but I think, a 20-pip stop loss is too low for me. I am now trading and I am trying out an SL which is more than that. But maybe, I can do this because I am just trading via a demo account. Quote Link to comment Share on other sites More sharing options...
omostar Posted January 17, 2012 Share Posted January 17, 2012 Each individual do have strategies that works best for them and that is fine. As for me i prefer to look for a strong support or resistancelevel and then put my stop loss just afew pips away from that point. Of course one can combine other tools like the fibonacci retracement to be more certain of the point to place the SL. Quote Link to comment Share on other sites More sharing options...
budado Posted January 24, 2012 Share Posted January 24, 2012 Excuse me for being a beginner but I think, a 20-pip stop loss is too low for me. I am now trading and I am trying out an SL which is more than that. But maybe, I can do this because I am just trading via a demo account. Demo account has high deposits and you can do naked trade and not be afraid to get MC in here. Usually demo account has 50,000 dollars deposits. Right now my strategy I only need 30,000 dollars to have my scalping, hedging and naked trade to work. But I guess its not going to happen. As even have a hard time reaching 300 dollars to trade. But my target price right now is to have 300 dollars using lite account with .01 lot size as minimum. but my target is real account that has .1 lot size minimum but has no swap. Quote Link to comment Share on other sites More sharing options...
luke1 Posted January 28, 2012 Share Posted January 28, 2012 If we have huge amount in our margin, it is fine not to use the Stop Loss here, because we have the strength here. But, if we only have a little money to trade, we better use the Stop Loss. It is much safer for us Quote Link to comment Share on other sites More sharing options...
rexway Posted February 3, 2012 Share Posted February 3, 2012 20dollars stop loos is profit is not too low ,instead of alowing greed to wipe away your profit its beter to take your profit befor it disapear to thin air. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 4, 2012 Share Posted February 4, 2012 But we can trade using little money so that even if we will not put stop loss, we will not end up losing much. But we will not earn much too, should the market agrees with us. Quote Link to comment Share on other sites More sharing options...
ayushsrk Posted February 4, 2012 Share Posted February 4, 2012 The agreement of the market is essential I think.And anyways 20dollars stop is not taht low as you have said.But anyways we can also trade with minimum amount of money. Quote Link to comment Share on other sites More sharing options...
rexway Posted February 5, 2012 Share Posted February 5, 2012 Even when we are trading with small amount of money stop loos should be set,practicing this will always save us time of watching over trade and tears of runing into loses Quote Link to comment Share on other sites More sharing options...
budado Posted February 11, 2012 Share Posted February 11, 2012 Even when we are trading with small amount of money stop loos should be set,practicing this will always save us time of watching over trade and tears of runing into loses Its not even its given if you trade with small amount of funds. Because if you don't put SL you will end up getting MC anyway. So if you have small funds its not a choice to put SL its a must unless you just want to have MC. Problem with small amount of funds is your tolerance to market volatility. So sometimes we put less SL lewey and get SL right away. Quote Link to comment Share on other sites More sharing options...
omostar Posted February 18, 2012 Share Posted February 18, 2012 That is why it is always advisable to use the least amount of lot size when trading especially with small capital. It will give us the freedom to set and appropriate stop loss that ia not too tight. It is better for us to delay trading till wehave enough capital that will give us this freedom than rushing into trading with ridiculous amounts. Quote Link to comment Share on other sites More sharing options...
yenney611 Posted February 19, 2012 Share Posted February 19, 2012 in every position there are certain different rating value that you can apply and that stop loss may be used so as not to loose your accumulated bonus or your capital. in that sense the amount you specified in your stop loss will also be the amount that you will be able to draw your profit. Quote Link to comment Share on other sites More sharing options...
rexway Posted February 19, 2012 Share Posted February 19, 2012 No its not a most that we should have enough money befor starting trading ,consider what is haping now I mean the new thing that just come into existing that is free money to start trade with which so many broker are offering now and leverag thing too, so the answer should be how experience we are in trading in other to trade safely, Quote Link to comment Share on other sites More sharing options...
adnan007 Posted March 21, 2012 Share Posted March 21, 2012 I had suffered huge losses especially while trading commodities and the main reason was the fact that I don't fell important to place a stop loss. Let me tell you that SL is a very important tool that helps a trader quite extensively if used properly. Losses does come every now and then and we should make sure is not far more then what we can afford to loose. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted March 21, 2012 Share Posted March 21, 2012 It is really also good management to use the stop loss as if we dont use it correctly then we might also have losses or margin call easily for not putting the SL in good position. But then I still not think Im going to use it in my scalping or my trades for small funds. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted March 26, 2012 Share Posted March 26, 2012 It is really also good management to use the stop loss as if we dont use it correctly then we might also have losses or margin call easily for not putting the SL in good position. But then I still not think Im going to use it in my scalping or my trades for small funds. Â Even the scalping requires placing a SL or else a trader might loose on all the profits which he earned throughout his trading career within a single trade as scalp trader can't afford to loose more than 20 or so pips per trade. As per my views, SL is necessity when it comes to trading in Forex... Quote Link to comment Share on other sites More sharing options...
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