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Do you use stoploss?

  • #521
  • Jan 4, 2022 5:04am Jan 4, 2022 5:04am
Stoploss is a must for me personally, because forex is probability, and SL is needed to limit your loss. You cant win always, and you also wont loss anytime. And for my SL is around 2 or 3 Flip SnR which had SnD area to protect my position.
  • #522
  • Jan 5, 2022 1:02am Jan 5, 2022 1:02am
using stop loss smartly is a very good skill and to be experienced about this skill of course is a long time issue , should practice it more and more in a demo account as for practice perfectly.
  • #523
  • Jan 6, 2022 12:10am Jan 6, 2022 12:10am
Technically, I reckon that every traders should use stop losses because it may seems like you will be missing out of the profit in case it rebounds, but when there is drawdown, that's where stop losses come in and help you out the most.
  • #524
  • Jan 6, 2022 7:44am Jan 6, 2022 7:44am
I always use stop loss and I can't imagine my trading day without using stop loss. It reduces the risks and it must be included in any trading strategy of every trader, otherwise it won't be a trading it will bejust a procss of losing money. Stop loss helps traders to stay in trading for a very long time. I personally stay much calmer when I set the stop loss, as I'm fond of scalping, I do it per every position and I'm glad that my broker offers such an opportunity for me. Of course, there are plenty of rivals of stop loss, I mean some traders allege that it reduces the potential income because when it works, the price perhaps can be reversed.
  • #525
  • Jan 11, 2022 7:20am Jan 11, 2022 7:20am
Not any more. My SL is my account balance these days.........
  • #526
  • Jan 11, 2022 8:34am Jan 11, 2022 8:34am
1. Do you use stoploss or not?
Always. Learned my lesson the hard way. It was late at night years ago, I had just bought a YM, I got in, turned away for a second to do something before putting my stop loss, the market went down about 800pts. I was able to break out even because it went down n back up....but after that, that's the 1st thing I do. If it stops you out, you can always get back in if your edge permits, if not, there is always another opportunity that will come along.
2. Why do you use stoploss and why you don't?
I use it to control risk/how much I'm willing to lose per trade.
3. How many pips do you use your stoploss?
It depends. It varies, but I do have a max amount though.
  • #527
  • Jan 14, 2022 3:58am Jan 14, 2022 3:58am
Quoting Cheverel
Yes, and I believe everybody should. One can close a position manually but sometimes the volatility is so high that the position doesn't close on time and causes slippage.
Must be part of the practice of every trader
  • #528
  • Jan 15, 2022 12:29pm Jan 15, 2022 12:29pm
Quoting ronald_fsm
Dear traders, I want to ask you questions about trading: 1. Do you use stoploss or not? 2. Why do you use stoploss and why you don't? 3. How many pips do you use your stoploss? thanks anyway
1. yes
2. it’s the only thing u can control when trading the markets….. i stick to a old management sayin” controller what u can control”
3. i feel the most effective way to use a stop loss isn’t based on pips but when ur trade idea is no longer valid. I.e if ur a trend trader who trades the 15m and ur in a long position. All of a sudden the 15m makes a lower low. Ur trade idea is no longer valid
  • #529
  • Jan 15, 2022 7:34pm Jan 15, 2022 7:34pm
Definitely. It's important to manage as many factors as possible when trading the markets. One of the most common and important of these would be the killer of any trader. Greed and emotions. Set lot sizes that are proportionate to your account size. Strict 0.5-1% risk to make a return of 3%-5%. It's more comfortable knowing the most you can lose on a trade is $15-$30 to make a return of $80-$150, if your account was say $3000. I'd say 10 pip loss. Target 60-100pips. Have set rules. Master 1-2 pairs. Have set trading days. Buy in uptrends. Sell in downtrends. Trade COMFORTABLY. According to what suits your lifestyle. Be conscious of what you did wrong in your losing trades. The market is not your #####. You cant control it, if you lose you're at fault, read why and adapt. How quickly you apply everything together cohesively and humble yourself, the faster it will fall into your lap. Here's an example of my plan for the upcoming week. NZDUSD and USDCAD pairs.
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  • #530
  • Jan 18, 2022 2:33am Jan 18, 2022 2:33am
I always use a SL because Control is too bad，so this is important。
  • #531
  • Jan 30, 2022 11:21am Jan 30, 2022 11:21am
Quoting nat3camp
Definitely. It's important to manage as many factors as possible when trading the markets. One of the most common and important of these would be the killer of any trader. Greed and emotions. Set lot sizes that are proportionate to your account size. Strict 0.5-1% risk to make a return of 3%-5%. It's more comfortable knowing the most you can lose on a trade is $15-$30 to make a return of $80-$150, if your account was say $3000. I'd say 10 pip loss. Target 60-100pips. Have set rules. Master 1-2 pairs. Have set trading days. Buy in uptrends. Sell...
Solid advice. I just don`t like the complication of your charts.
  • #532
  • Feb 10, 2022 12:22am Feb 10, 2022 12:22am
Quoting katienotcat
I always use a SL because Control is too bad，so this is important。
self control is the foremost power in real and real life. we should work on it
  • #533
  • Feb 11, 2022 3:23am Feb 11, 2022 3:23am
Always! You may never know how volatile the forex market can turn out to be. A stop loss prevents big losses, and traders don’t have to monitor screens all time because if the market doesn’t move in the expected direction, the trade will automatically close.
  • #534
  • Feb 20, 2022 6:24am Feb 20, 2022 6:24am
Quoting TerenceDavi
Always! You may never know how volatile the forex market can turn out to be. A stop loss prevents big losses, and traders don’t have to monitor screens all time because if the market doesn’t move in the expected direction, the trade will automatically close.
True. And never risk what you can`t afford to lose.
  • #535
  • Feb 24, 2022 11:08pm Feb 24, 2022 11:08pm
Quoting katienotcat
I always use a SL because Control is too bad，so this is important。
Absolutely, controlling own emotions during the running trade position is sop challenging! That’s why we traders need to work with SL and TP! On the other hand, money management is another important consideration!
  • #536
  • Mar 1, 2022 8:25am Mar 1, 2022 8:25am
Quoting nat3camp
Definitely. It's important to manage as many factors as possible when trading the markets. One of the most common and important of these would be the killer of any trader. Greed and emotions. Set lot sizes that are proportionate to your account size. Strict 0.5-1% risk to make a return of 3%-5%. It's more comfortable knowing the most you can lose on a trade is $15-$30 to make a return of $80-$150, if your account was say $3000. I'd say 10 pip loss. Target 60-100pips. Have set rules. Master 1-2 pairs. Have set trading days. Buy in uptrends. Sell...
Nice to see your analysis! I basically use horizontal & dynamic support/resistant levels to identify my TP & SL area! In my trading the size of my TP/SL depends on the type of trading style; when I do scalping I use 10-12 pips as like SL; but during my long term trading I use high SL like 50-70 pips!
  • #537
  • Mar 2, 2022 12:17am Mar 2, 2022 12:17am
Quoting ErikSendi
I am a newbie, so I always use stop loss, which allows me to have a judgment on the unknown market.

I highly appreciate that you are using stop loss as a newbie because this practice is absent in many traders. It means that you are using the clay in the right way for developing a structure. And if you go ahead this way, you can a make a huge improvement. So, keep going ahead following this structure and try to make improvements where necessary.
  • #538
  • Mar 3, 2022 12:33am Mar 3, 2022 12:33am
Definitely using. Stop losses are the main working tool for me.
  • #539
  • Mar 3, 2022 11:19pm Mar 3, 2022 11:19pm
you die by a thousand cuts or by a swift sudden forceful hit. Which one would you rather take a chance on?
  • #540
  • Mar 6, 2022 12:33pm Mar 6, 2022 12:33pm
I always use stop loss at all time..No matters what. There is no exception because stop loss is a risk management. If I don't use stop loss then I don't have risk management that means I am a gambler (not professional trader). Unless I am an investor for long term position, I don't think forex is good for investors.
Yoda Lee
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