Stop loss, take profit and risk management is required to manage our transactions without making losses, efficiently.
Stop loss, take profit and risk management is required to manage our transactions without making losses, efficiently.
Anyone not using a stop loss is asking for trouble. I cant understand why you would not use one?
In my experience I found that trading with no stop loss is a bad idea. I usually target for 3 to 1 win loss ratio, and risking a reduction maximum of 1% of my total capital.
If you are investing and something news worthy occurs and the price goes in the bad direction for you, you wish you had a stop loss.
Trading without a stop loss was quite worried, because the stop loss will help to limit the risk in accordance with the analysis that has been done. And if it is not maximized in the placement of the analysis we could do in running trading nicely in a demo account in order to escape the risk and could hone and improve trading
It may be tempting not to use cease but reduction can be enormous if something happens during night when you are not there to close commerce.
That's the 1 issue when using SL -- it's difficult to place it properly so that would not occur.
I only trade whith Mental SL, I dont like my own operations to being stoped at a particular price, I shut my operations when price actions informs me its over, I don't let my positions open overnight.
Aren't you worried about random spikes that could happen too quickly for you to shut your positions?
I will open a thread about my strategy wen I can, I still a junior member as I'm new to the forum,
I commerce full time, I'm in front of my computer for approximately 15 hours a day. I'm not worried about spikes, they usually dont take more and MOST of the days they dont reach my mental stop loss, my mental stop loss was most of those times approximately 200 pips.
It cant be harmful if you can not control your emotions to close a situation.
I exchange the daily charts.