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
Ignored
1. I use stop loss to limit my trade.
2. The goal of trading is to make profit, not to lose the account.
3. It depends on the market conditions at the time.
If you want to make a lot of money, go to where money is in abundance.
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
Ignored
1. Ofcourse stop loss is a really good tool if you know what you are going
2. It usually covers what Im doing better than just keeping track of the trades
3. Depends on what Im trading
Yes, I do use stop loss and it serves as trade protection. Regardless of whether I am trading on the long or short sides, I set stop loss.
Ignored
Yes, that’s the process! Stop loss is such an important tool; whatever trading strategy you are using you need to use stop loss according to your own calculation!
{quote} 1. Ofcourse stop loss is a really good tool if you know what you are going 2. It usually covers what Im doing better than just keeping track of the trades 3. Depends on what Im trading
Ignored
Yes Stop loss automatically close a trading position within the trader's risk profile.
{quote} That’s really mandatory! In my trading I am also using stop loss; since I know the value of money management!
Ignored
No, it's not mandatory, and people should stop repeating this 'mantra' over and over again. SL is a TOOL, which people can decide to use where applicable, if desired. If you know how to manage your trading, with reasonable sizes and understanding how/when to hedge (or manually close trades, as desired), then you do NOT need to use SL's.
In fact, I would say a huge percentage of losses of traders are solely down to the regular use of SL's for trades, where they are tight, or at least far too tight given the rather chaotic volatility of the market at times.
I know the value of money management...and TRADE management, which is why I'm not very concerned about having SL's in place, nor having my trades closed at random intervals, just due to a minor move of the price around an entry point.
{quote} No, it's not mandatory, and people should stop repeating this 'mantra' over and over again. SL is a TOOL, which people can decide to use where applicable, if desired. If you know how to manage your trading, with reasonable sizes and understanding how/when to hedge (or manually close trades, as desired), then you do NOT need to use SL's. In fact, I would say a huge percentage of losses of traders are solely down to the regular use of SL's for trades, where they are tight, or at least far too tight given the rather chaotic volatility of the...
Ignored
Yup, same for me. I use sometime tight SL just to see it being hit during a spike and then going my way. Also on a side note during rollover some brokers widen the spread. For example I trade on FTMO and I got hit several times with SL despite that I was in profit of at least 20 pip. I woke up next morning just to see my SL being hit and on chart I saw that candle price was not there so I just remove SL during rollover or put it like 100+ pips above my entry. I also use hedge if I have a basket of trades on same pair and I see it going away from my entries and slowly switch sides.
SL is better I think. Hedging is basically saying I want to take another opportunity for buying or selling. Immediately going against your first position could be a useful tool.
{quote} SL is better I think. Hedging is basically saying I want to take another opportunity for buying or selling. Immediately going against your first position could be a useful tool.
Ignored
What you're saying is not hedging. Hedging is about diviserfying your risk exposure to several currencies. Need triangular arbitrage to time the market and portfolio management to control bankroll risk.
{quote} What you're saying is not hedging. Hedging is about diviserfying your risk exposure to several currencies. Need triangular arbitrage to time the market and portfolio management to control bankroll risk.
Ignored
In forex that is also called hedging. Furthermore I am curious about hedging with options. However, I don't know how that works and how much it would cost.
{quote} No, it's not mandatory, and people should stop repeating this 'mantra' over and over again. SL is a TOOL, which people can decide to use where applicable, if desired. If you know how to manage your trading, with reasonable sizes and understanding how/when to hedge (or manually close trades, as desired), then you do NOT need to use SL's. In fact, I would say a huge percentage of losses of traders are solely down to the regular use of SL's for trades, where they are tight, or at least far too tight given the rather chaotic volatility of the...
Ignored
Well, according to my own trading system; I am using stop loss trading tool? What’s wrong on that?
