Stop Loss
Jan 03, 2020 at 14:19
ForexViking69 posted:
I calculate stop losses visually as per beginning of this thread, dependant on pairs I’ve learned how much to leverage and lot size. You can get an estimate for how much pairs like to move visually like on EURUSD where the markets can fluctuate like a yo-yo. I came to my estimates through trial and error when first starting :)
That’s great; by the way, what’s your trading style? Short-term or long term?
Member Since Jul 23, 2020
759 posts
Aug 30, 2020 at 15:24
I usually set my SL according the support and resistance and TP according the risk reward ratio. However, I never take more than 2% risk in a single trade.
Aug 31, 2020 at 08:00
Michihito posted:Agree. Stop loss is a good strategy that should be implemented in your trading. Never avoid it.
Stop loss should be based on your strategy. You also need to consider support and resistance level to put stop loss. Sometimes a little bit bad calculation can get you hit your stop loss. You need to be smart.
Member Since Jul 23, 2020
869 posts
Oct 08, 2020 at 21:16
Michihito posted:You are right. Support and resistance level is important to identify proper stop loss.
Stop loss should be based on your strategy. You also need to consider support and resistance level to put stop loss. Sometimes a little bit bad calculation can get you hit your stop loss. You need to be smart.
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