What ways do you calculate your Stop Loss & Take Profit?
Jun 23, 2019 at 06:14
1,317 Views
10 Replies
Member Since Apr 09, 2019
1 posts
Jun 23, 2019 at 06:14
HOW DO YOU CALCULATE YOUR SL AND TP WHEN PLACING AN ORDER?
I seen people count the pips and subtracting and multiplying, I have also hear people using trading system to tell them, what do you use?
I seen people count the pips and subtracting and multiplying, I have also hear people using trading system to tell them, what do you use?
Jun 26, 2019 at 12:48
Hi Bsolo,
I think there is a little more to it than that, which currency pair are you trading? How much are you willing to risk on the trade?
I generally use the currency pair's ATR to assist in determining my TP or SL levels as some pairs are more volatile than others, therefore, may need a little more room to breath. That then affects the lot sizing etc.
Hope that makes some sense...
Russell
I think there is a little more to it than that, which currency pair are you trading? How much are you willing to risk on the trade?
I generally use the currency pair's ATR to assist in determining my TP or SL levels as some pairs are more volatile than others, therefore, may need a little more room to breath. That then affects the lot sizing etc.
Hope that makes some sense...
Russell
Member Since Jan 05, 2016
1189 posts
Jun 27, 2019 at 07:46
Bsolo posted:
Let's assume I have $100 in my account, @Teejy88 How will I calculate my sl and tp for buy/sell
What are the SL and TP requirements of YOUR specific strategy?
There are numerous factors which could be used to determine SL and TP price levels, however there is no 'one size fits all' solution that will work for all circumstances. What works well for one trader, may not work at all for another.
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Member Since Feb 22, 2011
4862 posts
Jun 27, 2019 at 11:55
alexbernal posted:NormalizeDouble(Bid-(SL*Point),Digits)
HOW DO YOU CALCULATE YOUR SL AND TP WHEN PLACING AN ORDER?
I seen people count the pips and subtracting and multiplying, I have also hear people using trading system to tell them, what do you use?
Member Since Jun 27, 2019
13 posts
Jun 27, 2019 at 12:01
I use key resistance levels. Everything else seems arbitrary to me
Member Since May 28, 2019
12 posts
Jul 02, 2019 at 06:57
EmilioV posted:Very dangerous! Hope it works well for you!
I do not use stop loss. I enter trades with small Lot size and just keep open. Markets are ranging now so this tactic can work well. Fingers crosses prices do not start trending!
Member Since May 28, 2019
12 posts
Jul 02, 2019 at 06:58
The best way in my experience to use SL levels is to put them where you'd no longer like to be in the trade, I don't base it on percentages as this is silly and will lead to putting your SL at an arbitrary value. I use percentage risk for my lot size AFTER I determine where I'd like my SL to be.
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