When to use stop loss?

[Melle]

Is it right to set up S/L after opening the position or you need to check first the market movement if it goes down before setting up S/L to minimize losses.

[sanfo]

I advise you to use it in your every deal, you can adjust it when the market moves, it will help you control the risk and it's my habit.

[Magdalena]

It is very helpful to set up the Stop loss in every trade, because in that case you won't lose money that you can not afford. Also it is not necessary in that case to be in front of the computer during the whole trade. Your position will close automatically when it reach the Stop loss level and you won't lose all of your money.

[muhammad Askari]

As a beginner I use stop loss in every trade .It is a way of planning to our trades. I know I can not manage risk quickly if market goes against . That is why I use this tool to stop my loss on preferred pips which I can easily afford to loose.It will not harm my capital unexpectedly.

[[Deleted]]

I think if you only invest a few amount of your assets, sometimes you may set S/L according to the changes of market, instead of a fixed S/L.

[Alan Mcclain]

We should use stop loss every time we enter trades. That is the protector of our account . However it is important to place stop loss at the right places.

[Mak Disuza]

I think it good to use Stop loss in every trading and most important when you are planing to invest big capital in your investment.

[techmac]

Trailing stop loss is probably one of the best things ever introduced in trading - I use it whenever I can

[Anthony Tan]

Stop Loss has to be planned before entering the market and should have in place when we enter the market. As the sayings, plan your trade and trade your plan and that include stop loss. No matter it's mental stop or hard stop.

[irbforex]

Just Antony said, the SL has to be predetermined before opening the trade.

For MT4 users, you should always place your SL together with the order

[FXZoK.com]

I think we should have a stop right after opening a position, just to protect ourselves from crazy moves of the market (like the JPY moves after Japan tsunami).