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Do you use stoploss?

  • #221
  • Feb 19, 2016 3:53am Feb 19, 2016 3:53am
I have just started out and would hate to think what would happen if I didn't use a stop loss, I know someone at work who doesn't but you just cant predict what is going to happen. I have read a great deal about risk and only trading what you are prepared to loose, if you don't have a stop loss, you are going to eventually loose more than you are prepared too.
  • #222
  • Feb 21, 2016 3:28am Feb 21, 2016 3:28am
Quoting mocksy
I have just started out and would hate to think what would happen if I didn't use a stop loss, I know someone at work who doesn't but you just cant predict what is going to happen. I have read a great deal about risk and only trading what you are prepared to loose, if you don't have a stop loss, you are going to eventually loose more than you are prepared too.
I actually don't agree with "no stop-loss" trading as it only takes one bad trade to wipe out all the profits you've made or even your entire account.
  • #223
  • Feb 22, 2016 1:08am Feb 22, 2016 1:08am
I always use stoploss, it's necessary risk control plan for forex trading, especially there are too many sudden events around the world now.
  • #224
  • Mar 3, 2016 7:00pm Mar 3, 2016 7:00pm
yes, I always use a stop loss in trading forex is due to stop loss then I could to minimize the risks of forex properly. we do not know how big the forex risk for that we need to always use a stop loss so that we will be able to minimize the risk well
  • #225
  • Mar 4, 2016 11:48am Mar 4, 2016 11:48am
1. Do you use stoploss or not?
No, I don't
2. Why do you use stoploss and why you don't?
Instead of stoploss, I lock the loss with hedging
3. How many pips do you use your stoploss?
About 100 pips
Risk comes from not knowing what you're doing.
  • #226
  • Apr 25, 2017 8:02pm Apr 25, 2017 8:02pm
There is no specific set up for your stop loss as it will be entirely differ or vary in your trading plan and in your target pips. we need indeed to know how to volatile the market we are trading before , we can set what will be our T/P and S/L/ and we always suggest that every trade will need to use this method as part of their risk management.
  • #227
  • Apr 27, 2017 2:33am Apr 27, 2017 2:33am
In Fx trading stop loss is a favorite tool of traders especially beginners feel confident with stop loss. They know they will stop their loss in trading. However main aim of stop loss is manage your account at the limit so that you will not face full loss.
  • #228
  • Apr 27, 2017 4:09am Apr 27, 2017 4:09am
Stop loss is an important tool for risk management and every trader should use it so that we can save our money from loss. I always use SL for my trading.
  • #229
  • Apr 27, 2017 4:49am Apr 27, 2017 4:49am
IF you use hard stop loss or soft stop loss ( mental ) or none is essentially only dependent on LOT size of a trade and your money management.

So for example:

1. You trade small positions that even larger swings wouldn't hurt you much, then no stop loss is viable ( soft stop loss - manual closing will be used here if the price drifts away further ).

2. You scalp - and normally that comes with bigger lot sizes. In that case you should always have hard stop loss, because of noise and increased $/pip value.

3. You have a system that risks x % to gain x * 2 (3,4,5... etc.) % - risk to reward ratio. That can be applied to both above examples as well. So if you use a system like that, which is in my opinion "the holy grail" - based on probability and mathematics, then you use soft or more preferable hard stop loss, so your risk is always specific and known in advance.


Take care,
Valentino
  • #230
  • Apr 27, 2017 6:51am Apr 27, 2017 6:51am
Quoting ValentinoFx.
IF you use hard stop loss or soft stop loss ( mental ) or none is essentially only dependent on LOT size of a trade and your money management. So for example: 1. You trade small positions that even larger swings wouldn't hurt you much, then no stop loss is viable ( soft stop loss - manual closing will be used here if the price drifts away further ). 2. You scalp - and normally that comes with bigger lot sizes. In that case you should always have hard stop loss, because of noise and increased $/pip value. 3. You have a system that risks x % to gain...
I think it's not so bad of an idea to use a hard stop loss even for a small position just as a precaution. Losing money always hurts, even if it's a small amount of money.
  • #231
  • Apr 27, 2017 11:31am Apr 27, 2017 11:31am
Well, I do scalping trading mainly so I can’t trade here without stop loss trading tool! But I don’t have any specific target on SL position. Usually, I need to use 15-19 pips SL! In addition, I always try to use minimum 1:3 profit ratio here! For swing trading I set 50-80 pips SL! So, my SL points depend on my trading style!
  • #232
  • Apr 29, 2017 1:29am Apr 29, 2017 1:29am
Ironically, I have always used a fixed stop attached to different currency pairs –statistically speaking, if placed after a ‘round number’ level in price. It has a higher probability of holding than if placed on non-round numbers levels.
  • #233
  • Apr 29, 2017 6:47am Apr 29, 2017 6:47am
Quoting BenDunk
Ironically, I have always used a fixed stop attached to different currency pairs statistically speaking, if placed after a round number level in price. It has a higher probability of holding than if placed on non-round numbers levels.
I think that's because the majority of traders instinctively view round numbers as major support and resistance levels and they make them so through their trading. It's a self-perpetuating prophecy of a sort.
  • #234
  • May 3, 2017 9:45pm May 3, 2017 9:45pm
I use stops-&-reverses at the last confirmed peak/valley of the chart ...
Market is not random but unpredictable
  • #235
  • May 4, 2017 12:37pm May 4, 2017 12:37pm
Quoting ronald_fsm
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

1. Yes , always !
2. Because I want lose only part of my capital when I am wrong and sometimes I have problem with connection. SL make me safe.
3. Last peak valley + spread , I am trading with trend like LL , HL.
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #236
  • May 5, 2017 8:06am May 5, 2017 8:06am
Quoting NPTrader
{quote} 1. Yes , always ! 2. Because I want lose only part of my capital when I am wrong and sometimes I have problem with connection. SL make me safe. 3. Last peak valley + spread , I am trading with trend like LL , HL.
What if you are wrong about the way you've placed the SL? I am very much in favour of using stop loss, but I don't think that it's a universal remedy.
  • #237
  • May 5, 2017 9:15am May 5, 2017 9:15am
I always use stop loss, it is very risky to go without, some events can turn the market around many pips and you may not have the time to withdraw.
  • #238
  • Aug 4, 2017 2:29pm Aug 4, 2017 2:29pm
Quoting prokopisl
I always use stop loss, it is very risky to go without, some events can turn the market around many pips and you may not have the time to withdraw.
Right , when market moves at random you could not close your order and if there is no SL , then your trade obviously will face a great lose. So, for avoiding loss it is more appropriate to use SL at all times. It’s a part of real trading discipline
  • #239
  • Aug 6, 2017 4:46am Aug 6, 2017 4:46am
I am sure, all of successful Forex traders are using stop loss trading tool according to their trading plan! The main advantage of using stop loss trading tool is account security! In order to your 3rd point, I don’t have any particular target link 40-50 pips, for scalping I use small SL & for swing trading I use big SL.
  • #240
  • Aug 6, 2017 8:53am Aug 6, 2017 8:53am
I actually tend to use a mixture of both.

When I use SL, it would be for short term / day trading / scalping.
This would contribute to my risk management strategy.

But when I have some long term trades, then I will hedge my way out instead.
That way I will still emerge with an aggregate profit.
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