how to control losses - page 2
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I am only use stop loss to control the risk, and often look on history price on low and high on certain timeframe to determine stop loss
but sometime also work with tight stop loss and small target depending with style if scalping will tight but if swing will larger
Hi everyone, I am not against of using stop loss but I never used it since I started trading currency.
The indicator that I use is BB and EMA only and noting else.
I have a trading rules in my ENTRY and that's all I need. If the price falls into my rules then that's my ENTRY point.
Exit can be predetermined by setting TP evel or I do it manually.
I trade only on H4 and above time frame. Less number of trade but yet profitable.
I maintain 3 account in 3 broker. All account are interconnected to my trading activities. That's part of my hedging strategy.
My target is to maintain 95% to 100% winning trade for my 2 accounts which is possible if you will not use SL on your trade.
Happy Trading Everyone....
Hi everyone, I am not against of using stop loss but I never used it since I started trading currency.
The indicator that I use is BB and EMA only and noting else.
I have a trading rules in my ENTRY and that's all I need. If the price falls into my rules then that's my ENTRY point.
Exit can be predetermined by setting TP evel or I do it manually.
I trade only on H4 and above time frame. Less number of trade but yet profitable.
I maintain 3 account in 3 broker. All account are interconnected to my trading activities. That's part of my hedging strategy.
My target is to maintain 95% to 100% winning trade for my 2 accounts which is possible if you will not use SL on your trade.
Happy Trading Everyone....
Without your limits and setting goals in trading you can not survive for longer, World running in uncertainty situation anything can happen anytime so you must set a basic protection always.
Without your limits and setting goals in trading you can not survive for longer, World running in uncertainty situation anything can happen anytime so you must set a basic protection always.
I dont have to talk about which particular indicators you will use in setting a stop loss or what level you set a stop loss, because practically any indicators or approach works, but their is one basic principle about trading that a trader must give emphasis upon, you said that you are winning 60% of your trades which is a pretty decent success rate, but on the other end you have also to look on the RR, if you are averaging below 1 then you are losing trades are way bigger than your winning trades which explain the reason why you are still losing, my advice is to improve you RR ratio, find ways to improve your exit strategy so that you can minimize your loses further and you will end up in a profitable situation.
Hi everyone, I am not against of using stop loss but I never used it since I started trading currency.
The indicator that I use is BB and EMA only and noting else.
I have a trading rules in my ENTRY and that's all I need. If the price falls into my rules then that's my ENTRY point.
Exit can be predetermined by setting TP evel or I do it manually.
I trade only on H4 and above time frame. Less number of trade but yet profitable.
I maintain 3 account in 3 broker. All account are interconnected to my trading activities. That's part of my hedging strategy.
My target is to maintain 95% to 100% winning trade for my 2 accounts which is possible if you will not use SL on your trade.
Happy Trading Everyone....
Me too do not use stop loss. I lose whenever I use stop loss.
Me too do not use stop loss. I lose whenever I use stop loss.
Of course loses are part of trading and as long that you keep it small compare with your winners it is just fine, most traders hate to loss but trading without stop loss is way much a very risky approach.
Of course loses are part of trading and as long that you keep it small compare with your winners it is just fine, most traders hate to loss but trading without stop loss is way much a very risky approach.
If it's too risky means your trading volume is too big. I trade small. I do average down. I exit at small profit. So far so good.
If it's too risky means your trading volume is too big. I trade small. I do average down. I exit at small profit. So far so good.
Whether you are losing big volume or small volume, I am talking based on experience, it is not a good practice to trade without using stop loss, you will always come to a point that the market will eat up your account slowly, yes things workout now or in the next few weeks or months but for how long, in short this is not a sustainable and safe strategy to use, professional and successful traders dont apply such approach, you can see it for yourself at the right time, good luck on your trading!
"Traders cannot avoid loses, but you can minimize it"