When to use stop loss? - page 2
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It depends what strategy are you using. When I enter to the trade I know exact level where I am wrong and trade signal is not valid anymore
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).
I would rather prefer to open trade with a stop loss. Then move SL accordingly to the market reaction
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.
i recommend you to use a sl in every trade before entering the market. no stops generally equals a high risk of ruin. in my opinion no sl means that you're 100% sure where the price will move. forex is not a bank where you can put your money and come in a year to take it out with the profit. forex is the place to invest risk capital and there is always a chance that something will happen and effect your trade. just my 2 cents.
All the time. Next question.
Placing stop loss is not important and we can save our account from huge losses and we can develop our money management skills also to minimize the losses.
I am using stop loss when I can see that I am near losing my profit. Stop loss is really a better way to avoid loosing all your money so every trader should use this.
Stop loss is not necessary part of trading . It is your choicw use it or skip in trading. This is effective tool to manage our risk and liit it to a certain point of loss. Stop loss is beneficial for new comers specially . It controls trading when we are not watching market continuously.
I enter the market based on where I believe the stop loss should be and always put one in upon entering the trade. I then bring the stop loss down accordingly until I know I am in a profitable trade.
I use stop loss when i feel that there is not much chance of profit or when the risk is high.
Dear coder gurus Mr.tools and Mr.mladen how can i get the scrip or currency name in the chart main window in a very light colour same as tsd in all the charts. i want to use it for currencies and indian stocks too. Thanks in advance