in stock market you can dont use SL and TP because the market open from 0800 to 1400 ( in Dubai )
but in Forex Market it is open from Sunday to Friday
you cant know what will happen in between
i think only position trader can trade without SL and TP
SL means that after this price you think there is no way the price will go on your direction again ... so way stay in trade ?
and TP same the the price cant go any more or it is enough prift and you like to go out
also if you think that like us we open 10 to 20 positions on a time so how do you think you will remember what was your strategy on this position
the best way in my view TP and SL
example yesterday i open positions @ 1800 in Dubai time and i put a TP and SL because i have to go to the work 8 hours + i have to sleep when i come back for 8 hours so what can happen in forex in 16 house ?? the price can go 200pip on any direction
i think you get the point
but in Forex Market it is open from Sunday to Friday
you cant know what will happen in between
i think only position trader can trade without SL and TP
SL means that after this price you think there is no way the price will go on your direction again ... so way stay in trade ?
and TP same the the price cant go any more or it is enough prift and you like to go out
also if you think that like us we open 10 to 20 positions on a time so how do you think you will remember what was your strategy on this position
the best way in my view TP and SL
example yesterday i open positions @ 1800 in Dubai time and i put a TP and SL because i have to go to the work 8 hours + i have to sleep when i come back for 8 hours so what can happen in forex in 16 house ?? the price can go 200pip on any direction
i think you get the point