Is using stop loss the best way in your trading?

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Sugeng Moh Arifin
225
Sugeng Moh Arifin  
Hi....Every body

I want to ask question for all trader, Is using stop loss the best way in your trading?

When I open position, i am never using stop loss but I am setting take profit in my mt4. Because in my mind that broker can manipulated chart, so I am scared to set stop loss.I am using ea to trade.

so what about you guys ?

I hope you response my question...

Thank You...
Mohammed Mounir
1014
Mohammed Mounir  
Sugeng Moh Arifin:
Hi....Every body

I want to ask question for all trader, Is using stop loss the best way in your trading?

When I open position, i am never using stop loss but I am setting take profit in my mt4. Because in my mind that broker can manipulated chart, so I am scared to set stop loss.I am using ea to trade.

so what about you guys ?

I hope you response my question...

Thank You...

it depends on your strategy, i prefer to set stop loss and take profit 

for being "SCARED" that means you don't accept loosing trades in my opinion don't let your emotion control your thinking in Forex

Khalil Abokwaik
13425
Khalil Abokwaik  

Since you are using an EA to trade, you can hide your SL from your broker, using a virtual SL or a DD% as an exit option.

But never trade without any sort of SL, unless:

  • Your leverage is very very low
  • You are a scalper, trading manually in front of the charts, and have an excellent control on your emotions, so that you don't hesitate to close a trade at loss when it is invalidated
SL is meant to limit the risk in trading. What you are doing is limiting the profits and letting the losses run !

If you are using a large percentage of your capital in trading , be careful.

 

Safe Trading, 

hao nguyen xuan
414
hao nguyen xuan  
My strategy: I will open order when I see signal and will close previous order. Maybe not good, but I will have less profit. Always, hold your money in your pocket 
Josip Vukelja
197
Josip Vukelja  
Trading with SL is THE ONLY way. 
honest_knave
Moderator
2302
honest_knave  

There is no "one size fits all" in trading.

You will find winning traders who set stop losses... you will find losing traders who set stop losses.

You will find winning traders who don't set stop losses... you will find losing traders who don't set stop losses.

You need to find what works for you. 

erlan8585
790
erlan8585  
Traders cannot predict future with 100% probability sometimes market crush like CHF and trader will be lost own deposit. Possible trader will not lose only deposit he can be become a debtor.
Keith Watford
Moderator
13970
Keith Watford  
If you don't trust your broker - stop trading with them!
honest_knave
Moderator
2302
honest_knave  
Keith Watford:
If you don't trust your broker - stop trading with them!
I've always wondered why people do that too.
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