Do you use stoploss?

I use EA. It doesn't require SL, as I use martingale one.

1. Do you use stoploss or not?
Yes
2. Why do you use stoploss and why you don't?
I use stop loss to manage my risk, if it hits then my trading plan was wrong and I need to re asses before entering another trade
3. How many pips do you use your stoploss?
Depends, as long as I don't lose more than 1%

I've attached my loss just recently because I broke my rules.
1) Moving / Deleting stop loss
2) Open more of the same positions each with higher lot size hoping to recover loss
3) Open more opposite positions
4) Over trading

I always use stop loss because I always need a complete plan for a trade. I need to know where is for example the last low for a long trade to set stopp loss there because it will be the next resistance. Like you decide on which level you want to take profit you always should be clear about where your stopp loss has to be.

If resistance levels are crossed, you can also take your stop loss in profit if the situation changes and it starts to look more and more bearish if you are trading long. So yea to set a stop loss is never a bad decision especially if you are at the beginning of your trading career.

1. Do you use stoploss or not?

Without a doubt, yes

2. Why do you use stoploss and why you don't?

Any trade can run away from you, in a direction you do not expect or result in devastating losses, if you do not.

3. How many pips do you use your stoploss?

I typically place stop losses no more than 10 pips from the position opening price.

Learning the hard way about stop losses, mistakes that could have been avoided...*heavy sigh*

1. Do you use stoploss or not? STop losses are an absolute must for me.
2. Why do you use stoploss and why you don't? Use it because I've lost more than I intended on some trades, those were some rough days.
3. How many pips do you use your stoploss? I have a differing take on this one, completely depends on the type of asset I'm focused on. Average lately is about 5-10 pips, 10 pips if I'm expecting some more volatile swings in market price.

I use stop loss for leveraged positions but when it comes to long-term trades where I target 1000+ pips I don't set stop loss at all because price swings can be really wide before it starts to gradually move to your direction.

Yes, I always use stop loss.

Please always use stop loss on leveraged accounts. Sometimes market moves too quick (unexpected news for example) and the loses can damage your account seriously. Sometimes even with a stop loss configured some news can give you extremely bad price before closing the trade.

stop loss is essential on my trading strategy, that made me still afloat till today

Solid advice except the SL pips. this depends from the strategy. I personally set SL at 2% risk.

A stop loss is a protection to the trade and I put it irrespective of whether I am trading on the long side or on the short side.

I believe every strategy needs some form of stop loss. Even grid/martingale EA's. Doesn't have to be physical, it can be average loss based.

I use a stop-loss order to limit my losses in the trading. By placing a stop-loss order, I can manage risk by exiting a position if the price of their security begins to move in the opposite direction of the position.

No stoploss. If your position requires a stoploss, your position size is too big. Stoploss should actually be renamed to takeloss. It doesn't stop you from losing, it guarantees your loss if anything.

To each their own. If stoplosses are actually working for you, keep at it!

Trading without stop losses is a game of russian roulette.

1. Using a stoploss
If applied correctly, stoploss means that you know what you are doing. It allows you to trade bigger position size. If you are using stoploss and following you strategy and know exactly what you are doing, then after a few months you will gather a lot of information about you trading. The most important is that you will know that you are able to make money taking losses. You will know that overall your actions generate profit. So if you are going to make consistent profit from trading - stoploss is a must.
2. NOT using a stoploss
I understand that there are many ways to trade, but I can't imagine trading without a stoploss. Let's say for some reason you think that the price will go up, you take a buy. Now the price starts to go down, you are holding your trade. But why? Some time ago you were pretty sure the the price will go up, you took a trade, now the price goes down. So your analysis is wrong, now you are in a situation where you don't know what you are doing.
I can see only 1 way of trading without a stoploss. If you are using real fundamental analysis (not all these yellow/red reports from forex calendar). But you don't need a broker to trade this way, you can just exchange the currency in your bank account.

Thanks to ashur123 we can analyze his trading a little and I can show you what I mean.
Let's take a look at gbp/usd trades.
Closed gbp/usd trades made CA$90 Profit, 3442 pips. 34 trades. The average wining trade is somewhere around 101 pips.
Now let's look at the equity and gbp/usd trades so we can add open trades to this stats.
Closed and open gbp/usd trades made -CA$19 Profit, -590 pips. So we have 7 open trades that wipe out all these profits made from the 34 trades before. These trades with 800, 700, 500 pips drawdown. How long are you going to hold them? What if gbp/usd will move up another 800 pips? And that's the problem I see. You have a strategy to take profit, but have no strategy to take a loss. Now you have a negative expectation so your win rate must be pretty high to be breakeven. Look at this Swap for holding trades overnight, it is already -CA$113. Think about how hard it will be to scale up trading like this. You will not be able to make some reasonable money with 2000 account. Let's say you have 20 000 account, will you be able to hold 10 000 drawdown? And the scariest part is that you don't know what will happen next. You don't know where the price will go. You are now at the situation when you can lose everything in one trade.

Everyone using a stoploss. Some 2%, some 10%, some 100%.

"Brothers everywhere
Raise your hands into the air
We're warriors
Warriors of the world"

I don't use physical stoploss, everything is in mental health ;-)

My strategy is based on trading all of the currencies. Currently on gbpusd pair I only have sells that is correct, but take a look at the other gbp pairs. I've got both long and shorts on them. So some trades are directly hedged, others are indirectly hedged through other pairs. The position size of the trades increases when the account balance increases. While I don't have any confirmed losses at the moment, if I ever do need to close trades at a loss it will be trades that were opened first. Consistent scalable money management is key. You don't have any control on price movement, but you do have control of position size and exit points. That is the edge. To use a stoploss is proof that your position size is too big in my books. Hedging mitigates losses, you do not need a stoploss to force you out. If you look at my equity chart on the weekly time frame you'll see 1 week we have a rise, next week we have a slight pull back, then rise again following week. Compared to the account balance it does lag, which I'm ok with. So far my equity hasn't had any negative drawdown. It's only been minimal drawdown into existing profits. What I'm getting at is as long as there is consistent growth in both balance and equity, there isn't anything to really worry about. When I do need to cash out I can close out as many positions as I need to take whatever amount I need, till then keep the money printing machine running.

PS glad to see someone acknowledge Manowar!!!

That's a great explanation. We can see that in the forex market anyone can use any strategy. But you must understand what you are doing. I understand hedge, but not so good to use it in trading. So I use a different strategy.
Let your money printing machine running.

One key benefit of using a stop-loss order is you don't need to monitor your holdings. Using stop-loss is very necessary because it does no harm rather protects us from risk.