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Do you use stoploss?

  • #101
  • Mar 12, 2015 3:55pm Mar 12, 2015 3:55pm
Of course I do. It is important to not burn all money
  • #102
  • Mar 13, 2015 7:35am Mar 13, 2015 7:35am
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
Trust me always use a stop loss.

They are your friend not your enemy!

If you do not use a stop you can easily get a margin call even if you are only risking a small amount. Large moves in the market can come at any time and they do not wait around for you to get to your platform and close the trade

My stops vary in size, anything from 30-150.

I have a 67% win percentage, I have learnt to love getting stopped out because I know when I get stopped out the probability of the next trade being succesful increases. Those traders who cannot handle being stopped out, often move their stop, not use a stop and their accounts blow up!
  • #103
  • Mar 16, 2015 9:42am Mar 16, 2015 9:42am
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
You should use a stop-loss because that defines your risk (possible loss), although as we saw in the aftermath of the EUR/CHF de-pegging havoc, some unscrupulous brokers executed stop-losses but later, hours later, went on to change the price of execution (making up a different price because they didn't have liquidity bla-bla). Case in point: SaxoBank.
  • #104
  • Mar 16, 2015 2:44pm Mar 16, 2015 2:44pm

Do you use stoploss?


YES and


everyone should.

Never chase the market
  • #105
  • Mar 19, 2015 3:19pm Mar 19, 2015 3:19pm
From what I have read the goal of a trade is to reduce risk as much as possible. I use a S/L as part of my money management rules to reduce risk.

For example:

 

  1. Use 1% of Capital = .01 x $5000 = $50 = Trade amount
  2. Place stop loss. (I usually like to place it either a little lower or higher than a resistance or support level respectively going long. Opposite going short if possible.)
  3. Take the difference between currency pair price and S/L. Say 100 pips
  4. Divide $50 by 100 pips = $0.50/pip
  5. To get lot amount=> $0.50/10 = 0.05 Lot or 5 micro lots (I don't know the rational to divide by 10. It just works. Any help would be appreciated)

My overall point is the S/L is an important element in my trading plan because it helps me reduce risk. Full disclosure I am a rookie with about a year of studying and only a few months of real trading.

  • #106
  • Mar 21, 2015 1:21pm Mar 21, 2015 1:21pm
Quoting westomarke
From what I have read the goal of a trade is to reduce risk as much as possible. I use a S/L as part of my money management rules to reduce risk. For example: Use 1% of Capital = .01 x $5000 = $50 = Trade amount Place stop loss. (I usually like to place it either a little lower or higher than a resistance or support level respectively going long. Opposite going short if possible.) Take the difference between currency pair price and S/L. Say 100 pips Divide $50 by 100 pips = $0.50/pip To get lot amount=> $0.50/10 = 0.05 Lot or 5 micro lots (I don't...
Fine calculations actually. Couldn't find any adjustments of your MM to slippage, however don't know maybe you're up to flat market trading and surf on quiet waves
  • #107
  • Mar 23, 2015 4:18am Mar 23, 2015 4:18am
I use stop loss always.
No one knows what can happen to market...but what is more no one knows what can happen with computor and internet, !
  • #108
  • Mar 24, 2015 3:40am Mar 24, 2015 3:40am
Quoting XXiXX
Do you use stoploss? YES and everyone should.
Exactly!!
  • #109
  • Mar 25, 2015 2:14am Mar 25, 2015 2:14am
I also use stop loss in my trades, it is a way to manage my risk and make my trading a little bit safer.
  • #110
  • Mar 25, 2015 5:00am Mar 25, 2015 5:00am
Quoting sweaty
I use stop loss always. No one knows what can happen to market...but what is more no one knows what can happen with computor and internet, !
+1
  • #111
  • Mar 25, 2015 7:20am Mar 25, 2015 7:20am
without any shadow of doubt !!

always use STOPLOSS

I put it below the first support or above the resistance
  • #112
  • Mar 31, 2015 3:33am Mar 31, 2015 3:33am
How do you understand where is support and resistanse level?
  • #113
  • Mar 31, 2015 4:14pm Mar 31, 2015 4:14pm
consider the day when SNB announced dropping 1.20 and you did not set a stop loss on your EUR/CHF long order
  • #114
  • Apr 1, 2015 2:15am Apr 1, 2015 2:15am
Quoting KickAss
consider the day when SNB announced dropping 1.20 and you did not set a stop loss on your EUR/CHF long order
I think after that everyone should use a sl. You use it to protect yourself and your trades. But i have a question which criteria do you use to set either your stop loss or take profit ?
  • #115
  • Apr 1, 2015 4:43am Apr 1, 2015 4:43am
I use stop losss. How many pips depends on strategy....which strategy do you use?
  • #116
  • Apr 2, 2015 2:16am Apr 2, 2015 2:16am
i do not use any specific strategy as i am on the process of learning and experiencing, do you have any recommendation ?
  • #117
  • Apr 5, 2015 6:04am Apr 5, 2015 6:04am
I divide stop loss into two categories.

1) Hard Stop Loss
2) Soft Stop Loss

Hard Stop Loss - Exiting Trades after calculated loss, I mostly use when I am trading against Trend.
Soft Stop Loss - Hedging the Trades, when market moves against the trend but eventually will join the trend, but with care.
practice makes a man perfect!
  • #118
  • Apr 5, 2015 11:15am Apr 5, 2015 11:15am
only few words: Don't ever trade with the money you cannot afford to loose
DON'T TRADE THE DIRECTION, TRADE THE MOVE
  • #119
  • Apr 5, 2015 1:01pm Apr 5, 2015 1:01pm
I never use stoploss, because disaster in forex happen only when a thing like usdchf happen and even place stoploss will never execute.
so I only pray and hope if that happen I lucky enough.
we don't predict, we only ride
  • #120
  • Apr 5, 2015 1:26pm Apr 5, 2015 1:26pm
Sure, I use stop loss every time.
Because I have my money management plan 2% of account risk per trade.
If you want be professional forex trader you must use stop loss on every trade.
My stop loss is very small because I know when I must entry in trade so my stop loss is for daily trading 8-15 pips and for H4 and D1 30-50 pips
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